10296 Us-290 Fredericksburg, TX 78624

Property Details for 10296 Us-290

Year built

2015

Property type

Hospitality properties

Property subtype

Motels

Description

This exceptional 14-unit motel, known as Vineyard Trail Cottages, presents a lucrative investment opportunity in the thriving Fredericksburg, TX wine region. Located on 6+ acres along US-290, just 10 miles east of Fredericksburg, this property enjoys a prime location in Gillespie County's fastest-growing area, near the Pedernales River. The complex comprises 11 buildings, each a single-story structure, built in 2015. The 14 units offer a blend of comfort and convenience, with 12 featuring kitchenettes equipped with mini-fridges, microwaves, and sinks, and 2 boasting full kitchens. All units are meticulously maintained and boast granite countertops, ceiling fans, walk-in tile showers, vaulted tin ceilings, custom trim, central heating and air conditioning, and individual hot water heaters. One unique unit, a one-bedroom, one-bathroom cabin with a separate living area and covered porch, is attached to an 800+-square-foot RV barn, complete with two overhead doors (one electric), water and electricity hookups, and designed to accommodate a 40-foot Class A RV with slide-outs. The property also features paved roads, driveways, ample parking, a walking trail leading to the Pedernales River, and a party barn with an outdoor fireplace, enhancing its appeal and potential for diverse revenue streams. With a Net Operating Income (NOI) of $236,910 and an asking price of $2,695,000, this property offers a compelling 8.79% capitalization rate. The APN is 56843. This turnkey operation is ready for a new owner to continue its success in this desirable Texas Hill Country location.

Location Insight

City

Fredericksburg

County

Gillespie

State

Texas

Longitude

-98.7272

Latitude

30.2246