1517 S Stuart Ave Monahans, TX 79756

Property Details for 1517 S Stuart Ave

Year built

2021

Property type

Hotels

Property subtype

Hospitality properties

Description

Bharat Vakil of NewGen Advisory has been exclusively retained to offer this beautiful, 3 year old Fairfield Inn & Suites – Monahans, TX. Fairfield Inn & Suites was built in 2021 and opened its doors for business in July of 2021. The hotel consists of 95 beautifully appointed guest rooms & suites with many modern amenities including indoor swimming pool. Since opening, the Fairfield Inn & Suites – Monahans, TX has been getting excellent penetration index with its competitive set of hotels. The hotel was fully stabilized within 30 months as of December 2023. This Fairfield Inn & Suites is offered significantly below replacement cost at only $110,526 per key to qualified hoteliers and investors. Based on 2024 first quarter room revenue, projected 2024 Revenue will be estimated at $2.5M. Location Description The Fairfield Inn & Suites – Monahans, TX is located on Interstate 20 in West Texas. The Permian Basin, home to Monahans and Midland-Odessa have a combined statistical area, and is 250 miles wide and 300 miles long; Monahans is “The Center of the Permian Basin”. The Permian Basin lends its name to a large oil and natural gas producing area, part of the Mid-Continent Oil Producing Area. The Permian Basin, America’s largest, most productive oil basin, is estimated to hold 71 billion barrels of technically recoverable oil, according to the U.S. Geological Survey, and accounts for almost 40% of oil and 15% of all natural gas produced in the United States. The Texas cities of Midland, Odessa, Monahans and San Angelo serve as the headquarters for oil production activities in the basin.

Location Insight

City

Monahans

County

State

Texas

Longitude

-102.869

Latitude

31.5876