La Quinta Jacksonville

1902 South Jackson Street, Jacksonville, TX

$2,650,000

Price

2650000%

Cap Rate

$204,906

NOI

Overview
Cap Rate
2650000%
NOI
$204,906
Building Size
59,158 sqft
Lot Area
1.8 acres
Keys
62
Year Built
2009
Price Per Unit
$42,742
Management
Unencumbered
Floors
3
Description

Investment Overview:

Marcus & Millichap’s National Hospitality Group, as an exclusive representative of the seller, is pleased to offer for sale the La Quinta Inn & Suites in Jacksonville, Texas. The offering is a 62-room, three-story, midscale, interior corridor hotel built in 2009. The hotel is priced at $2,650,000 or $42,742 per key at 3.42 times March’s trailing-twelve-month room revenue. The subject property is currently managed by an absentee owner with a full staff, and may present upside potential for an astute hands-on owner/operator. The asset is presented for sale at significantly below replacement cost. The property is located off Interstate 69 with convenient access, visibility and excellent curb appeal from the highway. Several restaurants and fast foods are located along I-69 within walking distance from the La Quinta Inn & Suites.

Property Overview:

The La Quinta Inn & Suites Jacksonville is a 62-room, three-story, interior corridor hotel built in 2009. The hotel boasts a wide range of common area and guest room amenities. Common area amenities include an indoor pool, fitness center, business center, conference space, free continental breakfast, a safe-deposit box, and complimentary community-wide internet. The guest room specific amenities include a microwave, refrigerator, flat-screen television with premium cable channels, and a work desk.

Location Overview:

Jacksonville, Texas is a city located in Cherokee County, about 55 miles northwest of Nacogdoches and 115 miles southeast of Dallas. The hotel is positioned right off I-69 in close proximity to many of the city's top employers including CHRISTUS Mother Frances Hospital just down the highway (0.4 miles), Cardinal Health (2.8 miles), Walmart Supercenter (2.3 miles), Stream Global (3.6 miles), and Stage Stores Distribution Center (5 miles). The property is also located near many of the city’s entertainment and revenue generators including Bolton Park (2.9 miles) and Tomato Bowl Stadium (3.5 miles). Also, a short distance drive from the hotel are popular amusement activities like Adrenaline Rush Zip Line (6.6 miles) and Cherokee Trace Drive-Thru Safari (15 miles).

Highlights
  • Excellent Access and Visibility from I-69
  • $42,742 Price Per Key
  • Priced at 3.42 Room Revenue Multiplier
  • Revenue Trending Up
Documents
Title
LQ Jacksonville Exec Summary.pdf
Location
Gallery