1517 Stuart Ave Monahans, TX 79756
- Hospitality properties
- 48,746 SF
- 2.00 lot acres
Current Use by Public Records
- Isalis / Jewelry Store / Gift Shop
- Party City / Costume Store / Party Store
- Skunk Funk / Corporate Campus / Wholesaler
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop
Property Details for 1517 Stuart Ave
- Year built
- 2021
- Lot size
- 2.00 lot acres
- Property size
- 48,746 SF
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This exceptional 95-key Fairfield Inn & Suites by Marriott, built in 2021 and opened in July of the same year, presents a compelling investment opportunity. Located at 1517 E Stuart Ave, Monahans, TX 79756, this four-story, 48,746 square foot hotel sits on a 2-acre lot with 100 parking spaces and is zoned GC-General Commercial. The property boasts a strong financial performance, achieving a 9.52% pro-forma cap rate and a $1,000,000 pro-forma NOI. The asking price is $10,500,000, representing a price per key of $110,526.32. Year-to-date (August 2024) room revenue stands at $1,639,061, projecting to reach $2.5 million by year-end. The hotel's location in Monahans, the heart of the Permian Basin, benefits from the region's robust energy sector. This thriving West Texas energy market continues to demonstrate strong upward growth, making this a highly attractive, stabilized investment with a 127.7% RevPAR penetration index (running 12 months) and a 9.5% increase from the previous year. The hotel features numerous modern amenities, including an indoor swimming pool. This below-replacement-cost offering presents a rare chance to acquire a high-performing asset in a dynamic market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Monahans
- County
- Ward
- State
- Texas
- Longitude
- -102.869
- Latitude
- 31.5865
