Current Use by Public Records
- Hospitality properties
Property Details for 0 1St St
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This exceptional, newly constructed Marriott hotel boasts 115 keys and is ideally situated in Waco, Texas, at 1st St, 76708, McLennan County. The property benefits from its affiliation with a highly sought-after Marriott brand, offering a strong foundation for profitability. Currently experiencing improving room revenue performance, this asset presents a compelling value-added opportunity. The hotel's location is strategically advantageous, positioned near the state-of-the-art Foster Pavilion basketball stadium (opened 2024), a 7,500-seat arena that is part of a significant $700 million riverfront development. This development, in partnership with Baylor University and the city of Waco, is a major driver of increased tourism and demand. The property is offered fee simple, unencumbered by management agreements and operates as a non-union establishment. While previous management has resulted in suboptimal performance, a new owner can capitalize on the significant upside potential (estimated 10-20%) by optimizing operations and leveraging the strong market demand fueled by the nearby stadium and broader Waco development. This presents a rare opportunity to acquire a high-quality, newly built Marriott hotel in a rapidly growing market.
Value Estimations
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Waco
- County
- McLennan
- State
- Texas
- Longitude
- -97.2205
- Latitude
- 31.6058
