CBRE Motels solicits gives to amass the fee-simple curiosity within the La Quinta Inns & Suites Austin, Texas. Minutes away from the fastest-growing airport within the nation, Austin-Bergstrom Worldwide Airport, the 142-room resort is positioned off of State Freeway 71 and U.S. Freeway 183. Due to its superb location, the resort receives enterprise from a various inhabitants of each company and leisure segments.
Funding Highlights
- La Quinta Inns & Suites That includes Minimal PIP – Alternative to amass a 142-room, five-story, inside hall, La Quinta Inns & Suites that has lately gone by way of a main renovation. Subsequently, the property is in wonderful situation, requiring minimal capital enhancements for a brand new possession.
- Robust In-Place Money Move – From March to December 2023, the La Quinta posted roughly $3.6 million in complete revenues and achieved a web working revenue (“NOI”) of $1.9 million, to 53.7%. The resort’s sturdy money stream and potential for elevated market share make it a horny alternative for a brand new operator, particularly with the growth of the close by Austin Airport.
- Minutes to Austin-Bergstrom Worldwide Airport and Downtown Austin – The resort is located lower than 3 miles to Austin-Bergstrom Worldwide Airport. As well as, the property is inside minutes from Downtown Austin with many tech and monetary corporations reminiscent of Deloitte, EY, TikTok, and extra. Tesla Austin Gigafactory can be 12 minutes away from the resort.
- $6.5B Austin-Bergstrom Worldwide Airport Growth – A $6.5B growth, initially scheduled to be accomplished by 2040, has been escalated a full decade earlier, with staged expansions already starting to maintain tempo with passenger demand. In 2023 the airport serviced over 22M passengers, a 27.2% elevated over the 2019 passenger depend.
- Austin’s Fast Progress Driving Ever Rising Resort Revenues – Over 32.6 million guests flocked to Austin in 2022, contributing to $5.9 billion in annual financial affect from customer spending. With Austin’s globally acknowledged music, artwork and movie festivals, together with SXSW and Austin Metropolis Limits Music Pageant, expansive parks, culinary scene, famend universities, and a various tradition, Austin has made a reputation for itself for tourism and hospitality.
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