1620 East I-40, Amarillo, TX
Motel for Sale - $3,500,000 - 39,000 Sq. Ft. on 3.1 acres
Property Info
| CIMLS# | 814398 |
| Location 1620 East I-40 Amarillo TX 79103 | |
| Updated | May 16th, 2016 |
| Type | Motel |
| Price | $3,500,000 |
| Building | 39,000 Sq. Ft. |
| Land | 3.1 acres |
Property Description
The Red Roof Inn Amarillo is a pet friendly, outside corridor hotel built in 1985 and had been updated various time. It was last updated in 2004. The hotel has 104 guest rooms and has a 3 bedroom managers quarters. Property is close to the Convention Center and less than 3 miles from the Coliseum. Hotel features free WiFi, continental breakfast, guest laundry, and an outdoor pool.
Extra land behind the property is now part of the sale. Amarillo is a trucking junction and is known as the beef capital of the world. Amarillo ranches and feedlots produce 30 percent of the nation
Financials
Sales Info:
>> Cap rate: 14.0%
>> NOI: $461359