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3508 N Interstate 35 E RdLancaster, TX 75134
Dual Branded – Sleep Inn / MainStay Suites Lancaster Dallas South
Asset ClassHotel & Hospitality
# Keys80
Dual Branded Choice Hotel Located in Lancaster, TX
overview of deal

Overview

The Sleep Inn & Mainstay Suites Lancaster Dallas South is a Dual Branded 80-room, three-story Hotel built in 2019 and located at 3508 N Interstate 35 East in Lancaster, Texas. Amenities at the hotel include an outdoor pool, fitness center, picnic area, laundry services, and a business center.

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Investment Highlights

  • 41 rooms Sleep Inn and 39 rooms MainStay Suites – Dual Branded
  • Institutionally (non-hotelier) owned and third party managed
  • 2019 built; minimal PIP for new owner
  • Asset currently underperforming; significant upside potential for a hands-on owner/operator; comp set RevPAR ranging between $77 and $117 for similar hotels
  • Offered significantly under replacement cost; additional land parcel with Interstate frontage sold along with the hotel

Offering Summary

TTM July 2023
Year 1 ProFormaa
Listing Price
Call for Offers
Call for Offers
RevPar
$66.42
$76.71
ADR
$89.52
$98.46
Occupancy
74.2%
77.9%
NOI
$68,436
$593,870
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3508 N Interstate 35 E RdLancaster, TX 75134
Lancaster Community Park
University of North Texas at Dallas
Bahama Beach Waterpark
VA North Texas Health Care System
Dallas Zoo
Kay Bailey Hutchinson Convention Center
The Dallas World Aquarium
Dallas Museum of Art
Dallas Arboretum & Botanical Gardens
Dallas Love Field Aiport

Sales Team

Chris GomesExecutive Managing Director Investments(972) 786-2719chris.gomes@marcusmillichap.com

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Listing provided by Revere CRE