Unbranded Hotel in Amarillo, TX - Amarillo, TX

  • Property Name Unbranded Hotel in Amarillo, TX
  • Asking Price $Best Offer
  • Units 104
  • Location Amarillo, TX

About This Property

  • 104 rooms, 2 Stories
  • Centrally Located in Amarillo, TX
  • High Visibility and Convenient Access to Interstate 40
  • $1,225,857 Annual Revenue During Previous Ownership (2016)
  • $1,017,581 Annual Projected Revenue Based on Market Average RevPar (Sept 2023)
  • Zoning Allows for a Range of Uses Including Multifamily Housing

This offering is for a 2-story, 104-room hotel built in 1985. It is situated on a 3.17 acre site with high visibility and convenient access along Interstate 40 in Amarillo, TX. Amarillo is the 15th largest city in Texas with a population over 200,000.

The hotel was last sold in 2016. At that time the hotel was operated as a Red Roof Inn with annual revenue of $1,225,857 and Net Income of $384,212 (2015), and the property appraised for $3,160,000.

An STR Trend Report of 11 economy hotels in the Amarillo area yielded a trailing 12 months RevPAR of $26.80 (STR data as of September 2023). If the subject property were to perform at the market average projected revenue would be $1,017,581.

The property is zoned Light Commercial District (LC) allowing for a range of uses including multifamily housing.

The hotel was foreclosed in 2024 and the property is now overseen by a management company. No rooms are being rented.

Due diligence information available for the property is limited. All buyers are advised to perform their own due diligence prior to offer selection. The property is offered in AS-IS condition.

Deadline to submit offer: July 10, 2024.

Interested buyers are invited to contact us if you have further interest in this opportunity, would like to visit the property, or submit an offer. All property visits are by appointment only. Please do not contact the hotel or speak with the staff.

This agreement (“Agreement”) is between Amber Hotel Company (“Amber”) and the undersigned party (“Buyer”) who is interested in buying investment real estate.

The investment real estate is exclusively listed for sale with Amber. Amber shall provide Buyer with related confidential information, subject to the terms and conditions of this Agreement.

By checking the below box and viewing this property, you agree that:

  1. The related confidential information is provided for the sole purpose of having a Buyer evaluate the purchase of the property for itself or its affiliates. Buyer and its affiliates shall keep the related information confidential, and not reproduce, distribute or disclose such information to third parties, except to the extent third party consultants, lenders, or other agents of Buyer are required, in which case such third parties will be held to the same confidentiality standards as Buyer. Amber shall not be responsible for the accuracy or completeness of the information provided, or for any loss or expense, whether direct or indirect, arising from Buyer’s or Buyer’s affiliate’s use and reliance on the information.
  2. The undersigned principal or any company or entity in which the undersigned principal has controlling interest, including real estate brokerage companies, shall not be paid any form of commission or fee by the owner of the property for the purchase of the property.
  3. All offers and purchase agreements for the property from Buyer or its affiliates shall be submitted through Amber. Buyer shall not contact the owner of the property directly or act either directly, indirectly, through any third parties including affiliates, clients or other brokers to circumvent the purpose of this Agreement. Amber may solicit, represent and accept offers for the property from other potential buyers without obligation to this Buyer. Buyer acknowledges that real estate brokers are not qualified as experts for legal, financial, accounting, environmental, construction, soils, geological or engineering advice.

This property information, market information, and other information on this page as well as any related documents have been provided by the seller or other outside sources. Interested parties are highly encouraged to verify the information independently. Amber has not independently verified any information.