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Hotel for Sale in Austin Texas
Price Reduced
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Property Description
The North Austin Plaza Hotel & Suites is located in North Austin on the IH-35 corridor.
The hotel is very convenient to Highland Mall, downtown Austin, and the University of Texas. |
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The hotel is an exterior corridor property and was originally constructed as a full service Holiday Inn.
The property appears to be in good condition and has been continually updated. |
| Project amenities include reportedly the largest outdoor pool in the area, fitness center, business center, two large meeting/banquet rooms, high speed internet, and plentiful parking. |
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Included in the purchase is a large free standing restaurant fronting on IH-35 and fully leased to Bikini's Sports Bar and Grill. This is a successful restaurant concept in multiple cities with a second location opening soon in Austin.
The restaurant is leased for $146,000 annually on a triple net basis. |
Guest Room Features:
- Cable TV with Remote Control
- AM/FM Radio - Alarm Clock
- Phone with Data Port & Voicemail
- High-Speed Wireless Internet Access
- Work Desk with Lamp & Spare Electrical Outlet
- Coffee/Tea Maker
- Closets
- Hairdryer
- Iron & Full-Size Ironing Board
- Electronic Locks
- Fire Alarms
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Financial Summary
| Price Reduced |
$6,250,000 |
$5,500,000 |
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| Number of Units |
288 |
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2006 |
2007 |
2008 |
2009 YTD(Jan-Sept) |
| Room Revenue |
$1,582,493 |
$1,681,350 |
$1,758,111 |
$1,050,736 |
| Occupancy |
31.81% |
36.74% |
46.94% |
43.28% |
| Average Daily Rate |
$48.02 |
$42.19 |
$38.13 |
$37.65 |
| RevPAR |
$15.28 |
$42.19 |
$17.90 |
$16.29 |
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