Comfort Suite San Marcos, Texas

Highlights

• Based on 2019 revenue and expenses, the hotel operated slightly above 38% profit margin with an NOI of over $385K and a CAP rate of 9% on 2019 Actuals
• 2019 room revenue was $1,013,916 with an average $92 ADR and 56% Occupancy
• Comfort Suites is located within the Austin, Texas MSA, the 13th most populous region in the United States and the 4th most populous region in the State. Austin is the 3rd largest state capital in the United States
• The hotel offers many corporate demand generators as part of the expanding Texas State University campus, which is the 4th largest University in the state with an enrollment of more than 38,000 undergraduate and graduate students
• The Greater San Marcos area is found within the Texas Triangle – the area of Texas outlined by Dallas-Fort Worth, Houston, and San Antonio-Austin
• I-35 stretch between San Antonio and Austin is booming, making this hotel an ideal choice for operators
• Points of interest in the area include the Tanger Outlet Center, Prime Outlet Center, and the athletic facilities surrounding the university campus
• There are ample restaurants within close proximity to the property including Plucker’s Wing Bar, Chili’s, Red Lobster, Whataburger, Johnny Carino’s, Casa Maria and Garcia’s Mexican Food
• The hotel is being offered unencumbered by its current management agreement which started 5 yrs ago, thereby providing an excellent opportunity for an owner to fully control the property’s operations and cut extra expenses

Description

The Comfort Suites is a 53 all suites room, limited service, interior corridor hotel located in San Marcos, Texas (Austin MSA). The three-story hotel was built in 2006 using stone and stucco exterior, and pitched shingle roof. The hotel features large spacious guest suites, consistent with the Comfort Suites franchise, with small living area adjacent to beds with a sleeper sofa and table and a seasonal outdoor pool. The hotel is well-maintained, and recently went thru the Move to Modern PIP from the current owner. New owner will get a chance to own a great flag 2 miles from Texas State University and very close to Premium outlet malls within the Austin MSA!

The Comfort Suites is being offered unencumbered by its current management agreement which started 5 yrs ago, thereby providing an excellent opportunity for an owner to fully control the property’s operations and cut extra expenses.

The Comfort Suites is located along Interstate 35, the NAFTA Highway, and within close proximity to downtown San Marcos, Texas State University, and its attractions and demand generators. Approximately 70% of all Mexican exports enter the United States along the Interstate 35 corridor, entering through Laredo, Texas, approximately 200 miles south. Interstate 10 is located approximately 25 mile south and provides incredible access across the country in an east-west direction.

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