HOSPITALITY FOR SALE EONO LODGE ROKPORT SALE PRIE: $3,900,000 PRIE PER UNIT: $49,367 LOT SIZE: 3.26 Acres # OF ROOMS: 79 BUILDING SIZE: 46,554 SF 2017 NOI: $657,646 AP RATE: 16.8% (2017) O/ADR: 70% ADR $90 YEAR BUILT: 1986 RENOVATED: 1995/2017 ZONING: -1 PROPERTY OVERVIEW The Econo Lodge Inn & Suites Fulton Rockport near Blue Wave Beach is a 79 room, exterior corridor, two-story hotel located in Fulton (Rockport) Texas. The hotel was built in 1986 and fully updates in 1995. The most recent renovation was completed in 2017 with all ooring redone in rooms per hoice approval. Rooms were repainted, new roof was installed, bathrooms remodeled, lobby and breakfast areas were renovated and LED lights were installed. New drapes and The property is offered with minimal to no PIP for new buyer. urrent ownership is absentee and the property is currently being overseen by onsite manager, but is unencumbered. This investment provides an owner operator the opportunity to purchase the hotel below replacement cost and increase NOI. Extra land is available for future development.
HOSPITALITY FOR SALE EONO LODGE ROKPORT PROPERTY HIGHLIGHTS 16.8% ap Rate on 2017 actuals with a 84% ash ROI for 2017 with 20% down at current commercial mortgage rates Based on 2017 revenue Bgures and annualized expenses, the hotel is currently operating slightly above 50 percent probt margin or a $657,646 NOI 2018 revenue is projected to do over $1.5+ Million, therefore, cap rate and ROI will be even stronger Property includes an outdoor pool along many amenities for guest convenience urrently the hotel is run with an onsite manager and would therefore offer new ownership strong upside potential with proper management in place 2 bedroom owners/manager's house is included in the sale Average ADR $90; Average O 70+%
HOSPITALITY FOR SALE EONO LODGE ROKPORT
HOSPITALITY FOR SALE EONO LODGE ROKPORT
HOSPITALITY FOR SALE EONO LODGE ROKPORT
HOSPITALITY FOR SALE EONO LODGE ROKPORT
HOSPITALITY FOR SALE EONO LODGE ROKPORT 3902 HWY 35 N
HOSPITALITY FOR SALE EONO LODGE ROKPORT POPULATION 1 MILE 10 MILES 30 MILES TOTAL POPULATION 183 12,327 58,861 MEDIAN AGE 47.2 44.4 38.5 MEDIAN AGE (MALE) 48.1 45.1 37.5 MEDIAN AGE (FEMALE) 46.5 43.8 38.5 HOUSEHOLDS & INOME 1 MILE 10 MILES 30 MILES TOTAL HOUSEHOLDS 79 5,146 22,297 # OF PERSONS PER HH 2.3 2.4 2.6 AVERAGE HH INOME $64,665 $56,726 $60,717 AVERAGE HOUSE VALUE $102,382 $140,967 RAE 1 MILE 10 MILES 30 MILES % WHITE 95.1% 89.4% 87.2% % BLAK 0.0% 1.4% 2.2% % ASIAN 0.0% 2.2% 1.2% % HAWAIIAN 0.0% 0.0% 0.0% % INDIAN 0.0% 0.1% 0.4% % OTHER 2.2% 3.1% 6.0% ETHNIITY 1 MILE 10 MILES 30 MILES % HISPANI 22.4% 28.6% 37.7% * Demographic data derived from 2010 US ensus
Information About Brokerage Services Texas law requires all real estate license holders to give the following informa on about brokerage services to prospec ve buyers, tenants, sellers and landlords. 11-2-2015 TYPES OF REAL ESTATE LIENSE HOLDERS:. A BROKER is responsible for all brokerage ac vi es, including acts performed by sales agents sponsored by the broker. A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker. A BROKER S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): Put the interests of the client above all others, including the broker s own interests; Inform the client of any material informa on about the property or transac on received by the broker; Answer the client s ques ons and present any o er to or counter-o er from the client; and Treat all par es to a real estate transac on honestly and fairly. A LIENSE HOLDER AN REPRESENT A PARTY IN A REAL ESTATE TRANSATION: AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a wri en lis ng to sell or property management agreement. An owner's agent must perform the broker s minimum du es above and must inform the owner of any material informa on about the property or transac on known by the agent, including informa on disclosed to the agent or subagent by the buyer or buyer s agent. AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a wri en representa on agreement. A buyer's agent must perform the broker s minimum du es above and must inform the buyer of any material informa on about the property or transac on known by the agent, including informa on disclosed to the agent by the seller or seller s agent. AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the par es the broker must first obtain the wri en agreement of each party to the transac on. The wri en agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obliga ons as an intermediary. A broker who acts as an intermediary: Must treat all par es to the transac on impar ally and fairly; May, with the par es' wri en consent, appoint a di erent license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to, and carry out the instruc ons of each party to the transac on. Must not, unless specifically authorized in wri ng to do so by the party, disclose: that the owner will accept a price less than the wri en asking price; that the buyer/tenant will pay a price greater than the price submi ed in a wri en o er; and any confiden al informa on or any other informa on that a party specifically instructs the broker in wri ng not to disclose, unless required to do so by law. AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transac on without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND LEARLY ESTABLISH: The broker s du es and responsibili es to you, and your obliga ons under the representa on agreement. Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated. LIENSE HOLDER ONTAT INFORMATION: This no ce is being provided for informa on purposes. It does not create an obliga on for you to use the broker s services. Please acknowledge receipt of this no ce below and retain a copy for your records. Keller Williams Realty ity View 547594 legal@kwcityview.com Licensed Broker /Broker Firm Name or Primary Assumed Business Name License No. Email Phone Howard John Flournoy 127300 jflournoy@kw.com 210.853.0753 Designated Broker of Firm License No. Email Phone Jim Mclung 332864 jmcclung@kw.com Licensed Supervisor of Sales Agent/ License No. Email Phone Associate Rav Singh 560351 ravsinghsa@gmail.com Sales Agent/Associate s Name License No. Email Phone Regulated by the Texas Real Estate ommission Buyer/Tenant/Seller/Landlord Initials Date Informa on available at www.trec.texas.gov IABS 1-0