5001 Hwy 80 Odessa, TX 79761

Property Details for 5001 Hwy 80

Year built

1980

Lot size

3.93 lot acres

Property size

40,000 SF

Zone code

EF7

Property type

Motels

APN

32660.06720.00000

APU

326600672000000

Description

This fee-simple, 122-key La Quinta Inn by Wyndham hotel in Odessa, Texas, is offered at $6,000,000 ($49,180 per key). Built in 1981, this two-story, mixed-corridor property sits on a 3.93-acre lot at 5001 W Hwy 80 E, boasting high visibility and easy access to East Business Interstate 20, with an average daily traffic count of approximately 19,000 vehicles. The hotel is conveniently located less than 10 miles from Midland International Airport. Amenities include an outdoor pool, business center, breakfast area, outdoor barbecue grill, on-site guest laundry, and a sundry shop. Recent capital expenditures totaling $230,000 have enhanced key areas of the hotel, and partial room renovations are nearing completion with furniture, fixtures, and equipment already on-site. The hotel achieved a 108 percent RevPAR (RGI) Index in the trailing twelve months ending May 2024. Odessa's robust economy, driven by the energy sector and supported by major employers like Halliburton, Liberty Oilfield Services, and Saulsbury Industries, fuels strong demand for lodging. The hotel's proximity to attractions such as the West Texas Event Center, Stonehenge Replica, and Music City Mall further enhances its appeal. This investment presents a compelling opportunity for long-term value and profitability.

Location Insight

City

Odessa

County

Ector

State

Texas

Longitude

-102.313

Latitude

31.8739

CBSA code

36220

CBSA name

ODESSA, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments