9902 Gulf Fwy Houston, TX 77034
136-key hotel near Hobby Airport with strong revenue.
Type:Hospitality
- Added:
- Mar 8, 2023
- Days on Market:
- 1136
- Last Refresh:
- Mar 17 at 1:24 pm
Property Features for 9902 Gulf Fwy
General Information
- Standard status
- Active
- Property subtype
- Hospitality
Building Details
- Year Built
- 1984
Listing agent Rorik Seth License #TX 9015432
Listing office Seth Equities
Listing date Mar 8, 2023
Source Crexi
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 Seth Equities
Overview
Red Roof Inn & Suites
The 136-key Red Roof Inn & Suites near Hobby Airport is available for purchase. The property benefits from multiple revenue streams, including hotel revenue, lease income, and restaurant lease income. The current owner has invested over $600,000 in capital expenditures to renovate the property, including rooms, bathrooms, FF&E, the parking lot, and interior paint. A potential conversion opportunity exists to transform the asset into a dual brand (HomeTowne Studios & Red Roof) to capture additional long-term stays in the Hobby sub-market. Currently, 36 units feature kitchenettes and demonstrate strong occupancy numbers. The property could also be converted to Multi-Family, subject to the City of Houston's entitlement process. Market rents within a 3-mile radius are approximately $859, according to CoStar. The property has approximately 178 parking spaces, meeting the parking requirement. Remaining capital expenditures for Multi-Family conversion would include installing kitchens in the remaining rooms and having the rooms sprinklered.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Red Roof Inn ...
Hotel & Motel
Las Islitas 45 ...
Restaurant
Idk
Hotel & Motel
Hong Kong #5
Clothing Store
Location Insight
- Map
- Local Demand
- City
- Houston
- County
- Fort Bend
- State
- Texas
- Longitude
- -95.2505942
- Latitude
- 29.649752
Nearby Similar for Sale
FAQs
What type of property is this?
Hotel - 136-key hotel near Hobby Airport with strong revenue.
Where is this hotel located?
The property is located at 9902 Gulf Fwy Houston, TX.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: Strong in‑place revenue and NOI with multiple revenue streams.; Over $600k in recent CapEx renovations to rooms, bathrooms, FF&E, parking lot, and interior paint.; Conversion opportunity to a dual‑brand hotel to capture extended stays.
