123 Huvar St Victoria, TX 77904-1557

Property Details for 123 Huvar St

Year built

2012

Construction

FRAME

Lot size

3.38 lot acres

Property size

90,876 SF

Property type

Hotels

APN

17216-001-00100

APU

1721600100100

Description

This 118-key Hilton Garden Inn in Victoria, Texas, presents a compelling investment opportunity. Built in 2013 and recently renovated in 2024, this four-story, 90,876 square foot hotel sits on a 3.4-acre lot. Boasting the largest meeting space (7,004 sq ft) in its submarket, including a resort-style pool and swim-up bar, it caters to both leisure and corporate travelers. The property enjoys a prime location near major highways, the Victoria Regional Airport, and significant regional employers. Financial performance has been strong, with trailing twelve-month (TTM) June 2024 gross operating profit (GOP) at 39.4% and net operating income (NOI) of approximately $1,162,000. Rooms revenue reached a record high of $3,871,000 in the same period, showing a 19.5% year-over-year increase (YTD July 2024). The hotel consistently outperforms the market, with an average RevPAR penetration index of 120.2% from 2021-2023. The Garden Grille & Bar added over $520,000 in revenue in 2023. A hands-on operator can further enhance profitability, targeting a stabilized GOP margin of 44-48%. The asking price is $13,900,000, representing $152.96 per square foot. The current occupancy rate is 72.4%. A new long-term franchise agreement with Hilton is anticipated upon acquisition. The property is offered free and clear of management encumbrances. The recent $1.3 million renovation minimizes any future property improvement plan (PIP) requirements. This represents a rare opportunity to acquire a high-performing, well-located hotel asset with significant upside potential. The property's APN is 20374344.

Location Insight

City

Victoria

County

Victoria

State

Texas

Longitude

-96.9941

Latitude

28.86

CBSA code

47020

CBSA name

VICTORIA, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments