Bay Front Hotel For
For Sale
$4,500,000
Pending
901 Padre Boulevard, South Padre Island, TX 78597
50-room hotel in high-traffic area of South Padre Island.
Property Size30,258 SF
Days on Market1164
Property Features for 901 Padre Boulevard
General Information
Standard status
Pending
Size
30,258 SF
Property subtype
Commercial
Building Details
Year Built
2000
Listing Agency:
Effective Real Estate
Listed By:
Ryan McDaniel
(956) 299-2111
Source:
Phyllisbrowning
Added: Aug 1, 2023
Changed: Oct 6
Last Checked: Oct 7 at 1:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Effective Real Estate
Investment Insights
Based on property information with market context.
This is an opportunity to acquire a bay front 50-room hotel located in a high-traffic area of South Padre Island, TX. The hotel is situated a short distance from the beach and within walking distance of several retailers. South Padre Island is a popular drive-to-beach destination in the southern part of Texas. The coastline extends for 34 miles and features nature tourism attractions, wind and water recreational activities, an entertainment district, and local restaurants.
Key Highlights
- Bay front location on South Padre Island.
- 50‑room hotel in a high traffic area.
- Short distance to the beach.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$232,835
Cap Rate
5.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,656,700
$4.7M
Cap Rate 7%
$3,326,214
$3.3M
Cap Rate 9%
$2,587,056
$2.6M
Market Conditions
NOI Build-Up for 30,258 SF
Gross rent
$544.6K $18.00/SF
− Vacancy
−$54.5K −$1.80/SF
EGI
$490.2K $16.20/SF
− OpEx
−$257.3K −$8.51/SF
NOI
$232.8K $7.69/SF
Area
Cameron County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,656,700
Cap Rate 7%
$3,326,214
Cap Rate 9%
$2,587,056
Alternative Uses
Best Use
Hotel Hospitality
$3.33M
$2.91M – $3.88M
NOI $232,835 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$5.21M
$4.56M – $6.08M
NOI $364,694 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
Explore this area
Business Placement
Demographics for 78597, TX
2,479
Population
5,895
Households
0.4
Avg Household Size
56
Median Age
53%
College-Educated
92%
High-School Grad
8.8 sq mi
ZIP Area
282
Density / Sq Mi
$61,357
Median Household Income
$36,843
Median Earnings
$1,421
Median Rent
$508,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Hotel - 50-room hotel in high-traffic area of South Padre Island.
Where is this hotel located?
The property is located at 901 Padre Boulevard South Padre Island, TX.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Bay front location on South Padre Island.; 50‑room hotel in a high traffic area.; Short distance to the beach.
