16931 Texas Ave, Unit 58 Webster, TX 77598-4029

Property Details for 16931 Texas Ave

Year built

2006

Construction

FRAME

Lot size

1.78 lot acres

Property size

41,642 SF

Property type

Hotels

Property subtype

Motels

APN

1275800010001

APU

1275800010001

Description

This 58-key Comfort Suites hotel in Webster, Texas, presents a compelling investment opportunity. Located on a 1.78-acre lot, this three-story, 40,178-square-foot property boasts a prime location near NASA Johnson Space Center, Baybrook Mall, and Kemah Boardwalk, attracting both business and leisure travelers. Its proximity to the University of Houston-Clear Lake and three major hospitals further enhances its appeal. Built in 2006, the hotel underwent recent renovations totaling $400,000, encompassing public areas and guest rooms. This translates to a cost of approximately $6,900 per key, offering a significant below-replacement-cost acquisition opportunity at $75,862 per key. The hotel's strong historical performance, averaging approximately $1,134,912 in annual revenue from 2014 to 2019, is complemented by recent revenue growth. Rooms revenue increased 15.38% from 2022 to 2023, and a remarkable 21.65% year-to-date increase through April 2024. The trailing twelve-month RevPAR increased by 12.8% through March 2024, outperforming submarket growth. Furthermore, the hotel's location benefits from significant upcoming developments, including the Great Wolf Lodge and the Flyway mixed-use project, promising continued market expansion and increased demand. The property's strong performance indicators, coupled with its strategic location and recent renovations, make it an attractive investment prospect with substantial upside potential for an experienced owner-operator. The asking price is $4,400,000.

Location Insight

City

Webster

County

Harris

State

Texas

Longitude

-95.1327

Latitude

29.5431

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments