2401 Market St Baytown, TX 77520
- Hospitality properties
- 23,781 SF
Current Use by Public Records
- Baytown City Accounting / City Government Office
- Baytown Engineering / City Government Office
- Baytown Community Development / Urban Planning Department
- Baytown City Clerk / City Government Office
- Planning Department / City Government Office
Property Details for 2401 Market St
- Property size
- 23,781 SF
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This 62-room hotel in Baytown, Texas, is offered at $3,000,000. Boasting 23,781 square feet, it features a 9.04% cap rate and a current NOI of $271,283. The property, located at 2401 Market St, Baytown, TX 77520 (APN: 059-150-019-0122 | Block-19), has shown impressive occupancy growth, reaching 52.34% in 2023. While the hotel was renovated in 2001, a new owner Property Improvement Plan (PIP) will be required upon transfer of ownership. Situated near major employers like ExxonMobil and Chevron Phillips Chemical Company, and conveniently located near Houston's three major airports (IAH, HOU, EFD), this hotel benefits from strong corporate demand and a consistently competitive market performance. Nearby cities include Pasadena, Deer Park, La Porte, and Channelview, offering additional attractions and amenities. The property presents a compelling investment opportunity for those seeking a strong return in the Houston East Texas market. The hotel's success is attributed to smart strategies and high standards, leading to improved occupancy, ADR, and RevPAR. Despite market challenges, the hotel consistently delivered solid RevPAR performance, showcasing its resilience and ability to optimize revenue.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Baytown
- County
- Harris
- State
- Texas
- Longitude
- -94.9965
- Latitude
- 29.7278
