250 Municipal Dr Richardson, TX 75080-3539

This exceptional 75-key extended-stay hotel in Richardson, Texas presents a compelling value-add investment opportunity. The property, totaling 53,681 square feet across three two-story buildings, underwent a complete renovation in 2022. Situated on a 2.41-acre lot zoned F1, it boasts a prime location near major corporations and thriving local businesses, ensuring consistent occupancy. Amenities include a fully equipped business center, modern fitness facilities, a conference space (506 sq ft), and a banquet hall, catering to both business and leisure travelers. The property also features a fully renovated four-bedroom apartment on-site. Its strategic location offers easy access to major thoroughfares like US Highway 75, the George Bush Tollway, and the Dallas North Tollway, placing it within minutes of the University of Texas at Dallas, and a short drive from Dallas Love Field (15 miles) and DFW International Airport (23 miles). Nearby attractions include the Charles W. Eisenman Center for Performing Arts, NorthPark Center, Dallas Galleria, the Dallas Museum of Art, and the Perot Museum of Nature and Science. The high entry barrier for hotels and multi-family properties in this market makes this a particularly attractive investment. The asking price is $6,700,000. This property is ideally suited for conversion to multi-family housing.