6800 I-40 Amarillo, TX 79106
- Hospitality properties
- 81,123 SF
- 3.05 lot acres
Current Use by Public Records
- Hospitality properties
Property Details for 6800 I-40
- Year built
- 1984
- Lot size
- 3.05 lot acres
- Property size
- 81,123 SF
- Property type
- Hospitality properties
- Property subtype
- Motels
Description
Exceptional investment opportunity: a dual-branded Red Roof Inn and HomeTowne Studios in Amarillo, Texas. This 81,123 square foot property boasts 120 keys across four, two-story buildings situated on a 3.05-acre lot. Completely renovated in 2023, the hotel features modern amenities and kitchenettes in each unit. Currently operating at 59% occupancy, the property offers significant upside potential. The asking price is $5,000,000, translating to $61.63 per square foot and $41,666.67 per key. Built in 1984 and zoned R, this versatile property presents opportunities beyond its current use. Its prime location near the medical district, Westgate Mall, and historic Route 66 ensures high visibility and accessibility. The property's strong location offers easy access for travelers between major cities like Albuquerque, Oklahoma City, Dallas, and Denver. The area also benefits from corporate conventions, school sporting tournaments, and a growing tourism sector. The 3.5x GRM further underscores the attractive return on investment. This is a rare opportunity to acquire a fully renovated, dual-branded hotel in a thriving Texas 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
- Amarillo
- County
- Amarillo Country
- State
- Texas
- Longitude
- -101.933
- Latitude
- 35.1869
