La Quinta Inn & Suites Pearland-Houston South | 9002 Broadway St
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La Quinta Inn & Suites Pearland-Houston South 9002 Broadway St
56 Room Hotel Pearland, TX 77584 $7,016,476 CAD ($125,294 CAD/Room)
Investment Highlights
- Hotel's 17-year average room revenue: $1,287,412, showcasing financial strength and success.
- Only three new hotels have been added to Pearland since 2011, creating a market environment with reduced competition.
- Hotel ranks 3rd in average daily rate (ADR), indicating significant room for improvement (Dec 2023 STR Report).
- In 2023, the hotel generated almost $1,300,000 in revenue, which was an 18.0% increase from the previous year.
- The 56-key count, ideal for owner/operators, can expand by adding 5 rooms, providing an avenue for enhanced revenue opportunities.
- Conversion Opportunity in InterContinental Hotels Group's (IHG) Latest Midscale Hotel Venture, Garner Hotels.
Executive Summary
For more information, please visit the HVS marketing website to electronically execute the confidentiality agreement and get access to the Virtual Deal Room (VDR): https://brokerage.hvs.com/listing/?id=144296
HVS Brokerage & Advisory, as the sole and exclusive advisory firm to ownership, is pleased to present the opportunity to acquire the 56-key La Quinta Inn & Suites by Wyndham Pearland – Houston South, a limited-service hotel asset in Pearland, Texas. A more “hands on” investor will have the ability to realize the significant upside of renovating and owning a hotel property with further potential at a price well below replacement cost. The property benefits from its strategic location along Broadway Street in Pearland, within two miles of State Highway 288, which provides an attractive environment for visitors given its numerous retail and dining options, as well as sports and leisure-related facilities.
PRICE REDUCTION: $4,950,000
Ownership is motivated to sell the property and has agreed to reduce the price to $4,950,000, or $88,000 per key (rounded). Please contact Joseph Manuel for more details: jmanuel@hvs.com
HVS Brokerage & Advisory, as the sole and exclusive advisory firm to ownership, is pleased to present the opportunity to acquire the 56-key La Quinta Inn & Suites by Wyndham Pearland – Houston South, a limited-service hotel asset in Pearland, Texas. A more “hands on” investor will have the ability to realize the significant upside of renovating and owning a hotel property with further potential at a price well below replacement cost. The property benefits from its strategic location along Broadway Street in Pearland, within two miles of State Highway 288, which provides an attractive environment for visitors given its numerous retail and dining options, as well as sports and leisure-related facilities.
PRICE REDUCTION: $4,950,000
Ownership is motivated to sell the property and has agreed to reduce the price to $4,950,000, or $88,000 per key (rounded). Please contact Joseph Manuel for more details: jmanuel@hvs.com
Property Facts
| Price | $7,016,476 CAD | Building Size | 33,534 SF |
| Price Per Room | $125,294 CAD | No. Rooms | 56 |
| Sale Type | Investment | No. Stories | 3 |
| Property Type | Hospitality | Year Built | 2007 |
| Property Subtype | Hotel | Parking Ratio | 1.49/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 2.19 AC |
| Price | $7,016,476 CAD |
| Price Per Room | $125,294 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 2.19 AC |
| Building Size | 33,534 SF |
| No. Rooms | 56 |
| No. Stories | 3 |
| Year Built | 2007 |
| Parking Ratio | 1.49/1,000 SF |
| Corridor | Interior |
Amenities
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
- Hot Tub
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 10 | $184.27 CAD | - |
| Guest Room | 46 | $165.84 CAD | - |
PROPERTY TAXES
| Parcel Number | 0309-0006-000 | Improvements Assessment | $4,928,927 CAD |
| Land Assessment | $1,489,647 CAD | Total Assessment | $6,418,573 CAD |
PROPERTY TAXES
Parcel Number
0309-0006-000
Land Assessment
$1,489,647 CAD
Improvements Assessment
$4,928,927 CAD
Total Assessment
$6,418,573 CAD
zoning
| Zoning Code | 0005 |
| 0005 |
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Eric Guerrero -
Andrew Frosch -
Joseph Manuel -
Fadi Rawashdeh -
Kyle Peterek -
HVS
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La Quinta Inn & Suites Pearland-Houston South | 9002 Broadway St
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