Candlewood Suites Odessa in Odessa, TX Listed for Sale

CBRE Lodges solicits provides to accumulate the fee-simple curiosity within the Candlewood Suites in Odessa, Texas. The property is ideally located on the intersection of John Ben Shepperd Parkway and Interstate 20, simply minutes away from Medical Middle Hospital, Music Metropolis Mall, and quite a few eating places and leisure areas. Due to this prime location, the 83-room lodge receives enterprise from a various inhabitants of each company and leisure vacationers in Odessa-Midland space.​​​​​​​

• Excessive In-Place Money Move with Upside Potential – For the 2024 12 months-end interval, the Candlewood Suites posted roughly $2.5 million in complete revenues and achieved a internet working earnings margin of 36.3%. With a refreshed product following the completion of the PIP, the lodge’s sturdy money movement and market share potential make it a lovely alternative for a brand new operator.
• Vacant Lot Included within the Sale – There’s a vacant lot adjoining to the Candlewood Suites that shall be included on this providing. Please ask dealer for extra particulars.
  Handy Location & Various Demand Drivers – The property is strategically located on the intersection of John Ben Shepperd Parkway and Interstate 20, providing quick access to the area’s important oil and gasoline fields. As well as, the lodge is in proximity to a number of corporates, sights and schools, together with Saulsbury Ventures, PB Supplies Company, Cudd Power Companies, Rextac, Schlemeyer Area Airport, Odessa Regional Medical Middle, Ellen Noël Artwork Museum, Ratliff Ranch Golf Hyperlinks, and Odessa Faculty. Additionally it is inside a brief distance to Music Metropolis Mall and the College of Texas Permian Basin.
• Oil & Fuel Offshore Exploration – President Donald Trump issued a day-one government order to reverse a ban on future oil and gasoline drilling in over 625 million acres of federal waters, rescinding former President Joe Biden’s Jan. 6 order. He additionally issued an order for the U.S. to renew processing export allow functions for brand spanking new liquefied pure gasoline (LNG) initiatives to spice up power output.
• ​​​​​​Rising and Diversified Financial system – Odessa is a dynamic metropolis on the coronary heart of the Permian Basin, famend for its pivotal function within the oil and gasoline business. This financial powerhouse considerably contributes to the nation’s power independence, with main firms like Occidental Petroleum investing in revolutionary initiatives right here. Town’s financial progress is additional bolstered by various industries, together with know-how, logistics, and manufacturing, making Odessa a key participant in each regional and nationwide financial improvement.​​​​​​​
• The Permian Basin – America’s Power Powerhouse – The Permian Basin, spanning southwestern Texas and southeastern New Mexico, is a key participant in America’s power sector. Recognized for its huge oil and gasoline reserves, it contributes practically 40% of the nation’s oil and 15% of its pure gasoline. Cities like Midland and Odessa are central to its operations, driving the U.S. in the direction of power independence and financial progress. Because the nation shifts to renewable power, Odessa stays a hub of alternative.

For inquiries go to CBRE.