La Quinta Inn by Wyndham Austin Oltorf | 1603 E Oltorf Blvd
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La Quinta Inn by Wyndham Austin Oltorf 1603 E Oltorf Blvd
132 Room Hotel Austin, TX 78741 $13,465,965 CAD ($102,015 CAD/Room)
Investment Highlights
- 132-room, two-story, La Quinta Inn and a restaurant that sits on 3 acres of land on a hard corner that is located in a prime location.
- Current below-market lease runs out in November. Restaurant is approximately 5,000 SF. The market rent is estimated to be around $175,000 annually.
- Underperforming Nearby Competitors’ RevPAR by $20-$30 - The property is absentee-owned and operated by an owner located out of state.
- Minutes to Downtown Austin - The hotel is situated close to the Oracle Austin Campus (1.7 miles), Google (2.9 miles), and Meta (2.9 miles).
Executive Summary
CBRE Hotels is pleased to solicit offers to acquire the fee-simple interest in the La Quinta Inn and a restaurant in Austin, Texas. The 132-room hotel is located off Interstate 35, near Oracle Austin Campus, Google, and Meta in Austin, one of the fastest growing cities in the nation, and one of the best managed cities in Texas.
Property Facts
| Price | $13,465,965 CAD | Building Size | 52,380 SF |
| Price Per Room | $102,015 CAD | No. Rooms | 132 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1975/2011 |
| Property Subtype | Hotel | Parking Ratio | 2.31/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 2.32 AC | Opportunity Zone |
Yes
|
| Price | $13,465,965 CAD |
| Price Per Room | $102,015 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.32 AC |
| Building Size | 52,380 SF |
| No. Rooms | 132 |
| No. Stories | 2 |
| Year Built/Renovated | 1975/2011 |
| Parking Ratio | 2.31/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
Amenities
- Pool
- High Speed Internet Access
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 4 | $153.09 CAD | - |
| Guest Room | 128 | $133.24 CAD | - |
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Bike Score ®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 285901 | Improvements Assessment | $6,202,423 CAD |
| Land Assessment | $3,578,119 CAD | Total Assessment | $9,780,543 CAD |
PROPERTY TAXES
Parcel Number
285901
Land Assessment
$3,578,119 CAD
Improvements Assessment
$6,202,423 CAD
Total Assessment
$9,780,543 CAD
zoning
| Zoning Code | GR |
| GR |
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La Quinta Inn by Wyndham Austin Oltorf | 1603 E Oltorf Blvd
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