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Independent Motel for Sale
Snyder, Texas
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Property Description
| The 45-unit Purple Sage Motel sits on approximately 2.26 acres of fee simple land (owned) and is conveniently located at the on-off west ramp 180/84/208. Access and visibility are both good from 84/180 (Coliseum Dr.) |
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Snyder, Texas is located in the center of the West Texas triangle with Lubbock, Midland, San Angelo and Abilene all approximately 80-100 miles away. |
| The property is divided into four sections: the front two sections are the oldest and built in 1949 and 1950 which includes the office. The middle section was built in 1976 and includes six guest rooms consisting of four-queen singles and two-king singles, and a storage room. The back section houses 20 guest rooms built in 1982. There are 11 singles: two-queens; 9-kings and 9-with two queen beds each. |
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The entire property is wired for cable internet and cable TV. A video security system located in the office monitors the Laundromat, back and middle sections. |
| The Laundromat was built in 2003. Other property highlights are: Free Breakfast Buffet; Meeting Room; Gift Shop; Dog Kennels and Storage Building. |
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Financial Summary
| Price |
$1,850,000 |
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| Number of Units |
45 |
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| 12 Months Ending |
December 2007 |
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| Room Revenue |
$687,958 |
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| Total Revenue |
$751,442 |
| Occupancy |
75.4% |
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| Average Daily Rate |
$55.65 |
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| Net Operating Income |
$148,605 |
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