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    9902 Gulf Fwy Houston, TX 77034

    Sponsored
    For Sale
    $5,200,000

    136-key hotel, high NOI, redevelopment potential.

    Property size:
    50,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 136-key hotel, the Red Roof Inn & Suites Hobby Airport, situated on a 3.5-acre lot at 9902 Gulf Fwy, Houston, TX 77034. The property, with APN 0342030030315, boasts two three-story buildings totaling 50,000-55,000 square feet, constructed in 1984 and significantly renovated in 2006 and 2019. Currently operating as a hotel with 128 keys and three 3-bedroom apartments, the property offers a compelling 9.62% cap rate and a strong net operating income (NOI) of $500,000. The asking price is $5,200,000, translating to a price per key of $38,235.29. Financial records indicate a 2023 room revenue of $1.268 million and a projected 2024 revenue of $1.4 million. The property's strategic location, just two miles from Hobby Airport and eleven miles from downtown Houston, provides excellent access to a robust market. The property includes approximately 178 parking spaces. Currently, 36 rooms feature kitchenettes, demonstrating the viability of a conversion to extended-stay or multi-family units. Market analysis suggests potential for significant rental income based on comparable properties in the area. This asset offers multiple operational strategies, including continued operation as a hotel, conversion to a dual-brand hotel (HomeTowne Studios & Red Roof), or a complete transformation into multi-family housing. Detailed financial information and operational data are available upon request.

    Property Features for 9902 Gulf Fwy

    General Information

    Property type
    Motels
    Square Feet
    50,000 SF
    Lot Size
    152,460 SF

    Building Details

    Year Built/Renovated
    1984/2006
    Buildings
    2
    Stories
    3

    HighLights

    • $5,200,000 asking price for a 136‑key hotel redevelopment opportunity.
    • 9.62% cap rate with a $500,000 NOI.
    • 50,000‑55,000 square feet on a 3.5‑acre lot in Houston, TX.
    • Two three‑story buildings built in 1984, renovated in 2006 and 2019.
    • Fee simple ownership with strong in‑place revenue and multiple operational strategies, including conversion to multi‑family or dual‑brand hotel.
    Property Profile Location Intelligence

    Current Use by Public Records

    Red Roof Inn ... Hotel Las Islitas 45 ... Seafood Restaurant Idk Inn Hong Kong #5 Clothing Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.2517408
    Latitude
    29.6501382

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    FAQs

    What type of property is this?
    Motel - 136-key hotel, high NOI, redevelopment potential.
    Where is this motel located?
    The property is located at 9902 Gulf Fwy Houston, TX.
    What is the asking price?
    The asking price for this property is $5,200,000.
    What are key features of this property?
    This property features: $5,200,000 asking price for a 136-key hotel redevelopment opportunity.; 9.62% cap rate with a $500,000 NOI.; 50,000-55,000 square feet on a 3.5-acre lot in Houston, TX.
    Request Owner's contact information
    9902 Gulf Fwy Houston, TX 77034
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    Houston, TX 77034
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    9902 Gulf Fwy Houston, TX 77034
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