Renovated 92-Unit Hotel Investment
For Sale
$2,900,000
6030 I-40 West, Amarillo, TX 79106
Relax Inn – Amarillo, TX
Property Size27,525 SF
Lot Size1.53 Acres
Price / SF$105.36
Days on Market624
Property Features for 6030 I-40 West
General Information
Standard status
Active
Property type
Hotels, Other hospitality properties, Other residential income properties, Hospitality properties, Residential income properties
Size
27,525 SF
Elevators
N/A
Lot size
1.53 Acres
Building Details
Year Built
1980
Year Renovated
2023
Buildings
1
Stories
3
Units
92
Listed By:
Devesh “devo” Ragha
(806) 584-1454
Added: Jan 28, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This 27,525 square foot hotel in Amarillo, TX, presents an investment opportunity. The property, featuring 92 units, is situated on a 1.53-acre lot with ample parking. Renovated in 2023, the well-maintained property is zoned HC, allowing for flexible commercial use. Its location in Amarillo, near the medical district and historic Route 66, provides access to a diverse range of clientele, including business travelers, tourists, and those attending nearby corporate conventions and sporting events. The property's proximity to major cities like Albuquerque, Oklahoma City, Dallas, and Denver makes it an ideal stopover for travelers. A three-bedroom manager's apartment is located on-site. This property offers a proven track record in the hospitality sector and presents a chance to capitalize on Amarillo's thriving economy and tourism.
Key Highlights
- Includes a 3‑bedroom manager’s apartment onsite
- Proven track record in the hospitality/economy sector
- Big city feels without the traffic
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$182,552
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,651,040
$3.7M
Cap Rate 7%
$2,607,886
$2.6M
Cap Rate 9%
$2,028,356
$2.0M
Market Conditions
NOI Build-Up for 27,525 SF
Gross rent
$350.1K $12.72/SF
− Vacancy
−$18.2K −$0.66/SF
EGI
$331.9K $12.06/SF
− OpEx
−$149.4K −$5.43/SF
NOI
$182.6K $6.63/SF
Area
Amarillo, TX
Vacancy
5.20%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,651,040
Cap Rate 7%
$2,607,886
Cap Rate 9%
$2,028,356
Alternative Uses
Best Use
Apartment 5plus
$2.61M
$2.28M – $3.04M
NOI $182,552 @ 7.0% cap · market cap 6.29%
Second Best
Hotel Hospitality
$1.85M
$1.62M – $2.16M
NOI $129,436 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$6.15M
$5.38M – $7.17M
NOI $430,183 @ 7.0% cap · market cap 14.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 79106, TX
27,692
Population
13,385
Households
2.1
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
8.6 sq mi
ZIP Area
3,220
Density / Sq Mi
$54,407
Median Household Income
$36,061
Median Earnings
$995
Median Rent
$163,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Relax Inn – Amarillo, TX
Where is this hotel located?
The property is located at 6030 I-40 West Amarillo, TX.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Includes a 3‑bedroom manager’s apartment onsite; Proven track record in the hospitality/economy sector; Big city feels without the traffic
