Studio 6 Lubbock - Lubbock, TX
About This Property
- 56 Units
- 2 Story, Exterior Corridor Hotel
- Net Income in 2023: $343,616, a Cap Rate of 9%
- Separate 4-Bedroom, 3-Bathroom Complete Manager's Apartment in Lobby Building - Perfect for Owner Operator
- Recently Updated Property: Seller Expects Minimal Remaining Items Required by Franchisor, with Flexibility to Change the Flag
- Direct Access to TX-62 Freeway
- Extended Stay Rooms with Kitchenettes
- Fantastic Location Just a Few Minutes from Texas Tech University and Lubbock Preston H. Smith International Airport
56 unit, 2 story exterior corridor Franchised Hotel located a few minutes from Texas Tech University, Lubbock Preston H. Smith International Airport, and Historic Depot District in Lubbock, TX.
The hotel was built in 1979 and is in excellent condition. Revenue in 2023 was $814,398, with room for growth with an Owner-Operator since current Ownership is not full-time onsite.
There is a complete 2-story manager's apartment in the separate lobby building that features 4 bedrooms, 3 bathrooms, living room, kitchen, and additional study room.
The hotel has direct access to TX-62 Freeway. Lubbock, Texas, with a growing population of 255,000 and 10% city growth rate (2020-2022), boasts strong hotel demand generators, primarily Texas Tech University, drawing students, faculty, and visitors. Additionally, Covenant Medical Center and University General Hospital drive occupancy with patients and medical professionals. Major events at the United Supermarkets Arena and Lubbock Memorial Civic Center also significantly impact hotel demand.
Full details available after signing a Confidentiality Agreement.
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:
- 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.
- 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.
- 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.