Shark Reef Resort 314 Cut Off Rd 52 Room Hotel Port Aransas, TX 78373 $9,698,290 CAD ($186,506 CAD/Room)
INVESTMENT HIGHLIGHTS
- 52 updated rooms with remodeled interiors, modern furniture, and kitchenettes in select units.
- Leased retail space on-site, offering an additional income stream.
- Recent mechanical systems, windows, and a recently replaced roof ensure low maintenance for years to come.
- 6 standalone cottages, perfect for extended stays or family getaways.
- 2-bedroom on-site condo, ideal for owner-operators or converting into additional rental space.
- Recently updated pool and a relaxing hot tub for guest enjoyment.
EXECUTIVE SUMMARY
Seize the chance to own an iconic and well-established motel in the heart of downtown Port Aransas. Nestled on just under 2 acres of prime land along Cut Off Road, Shark Reef Resort offers unmatched potential for continued success or expansion. This turnkey property includes 52 well-maintained rooms, 6 charming cottages, and a leased retail space, offering diverse revenue streams. Sitting on nearly 2 acres of prime real estate along the Cutoff Road, this property offers endless possibilities for creative expansion. The current configuration includes a spacious lounge area that could easily be transformed into a breakfast café, wine tasting room, or other unique guest experiences. Imagination is your only limit!
PROPERTY FACTS
| Price | $9,698,290 CAD |
| Price Per Room | $186,506 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.94 AC |
| Building Size | 28,365 SF |
| No. Rooms | 52 |
| No. Stories | 1 |
| Year Built/Renovated | 1966/1986 |
| Parking Ratio | 3.84/1,000 SF |
| Corridor | Exterior |
| Zoning | C-2 |
AMENITIES
- Pool
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 52 | $117.76 CAD | - |
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PROPERTY TAXES
| Parcel Number | 200102744 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $6,022,046 CAD |
