2313 Loop Carthage, TX 75633
- Hospitality properties
- 60,265 SF
Current Use by Public Records
- The Regal Hotel / Hotel
Property Details for 2313 Loop
- Year built
- 2000
- Property size
- 60,265 SF
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
Exceptional opportunity to acquire The Regal Hotel, a 50-key hospitality property located in Carthage, Texas. This two-story, 60,265 square foot hotel, built in 2000, boasts an interior corridor design and underwent a comprehensive renovation in June 2024, with $125,000 invested in capital expenditures. The renovation included upgraded flooring, plumbing, furniture, and televisions in all 50 rooms. The property also includes a separate three-bedroom, two-bathroom dwelling, ideal for management or owner occupancy. The hotel's prime location offers convenient access to major highways (59, 79, 149, and 315), local attractions, and business centers. Carthage's thriving economy, driven by healthcare, retail, and the oil and gas industry, presents a strong market for this well-maintained hotel. August 2024 metrics show an occupancy rate of 45.64%, an average daily rate (ADR) of $71.49, and a revenue per available room (RevPAR) of $34.64. The hotel's strong location and recent renovations position it for continued success and potential franchising opportunities. The asking price for this turnkey operation is $2,000,000.
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
- Carthage
- County
- Panola
- State
- Texas
- Longitude
- -94.3225
- Latitude
- 32.1482
