Listed by Laurel Real Estate
$11,900,000
Sheraton Four Points
Details
Property Type Hospitality
Sub Type Hotel
Units 143
Cap Rate 11.88%
NOI $1,414,067
Year Built 1976
Year Renovated 2019
Buildings 1
Stories 5
Acreage 6.530
Zoning Commercial
Parking Spaces 200 spaces
Investment Type Institutional
Occupancy Date 06/30/2026
Ownership Fee
Fully Renovated * NOI $1.4M * Priced at 11.9% Cap
Marketing description
- Fee simple interest in 143-unit, interior corridor hotel property.
- Meticulously renovated - current owners did a $5 million conversion PIP in 2019 and have spent another $400k in improvements since then.
- Strong revenue and cash flow: Room Revenue $3,117,517 * Total Revenue $3,435,326 * NOI $1,414,067.
- Onsite restaurant, bar/lounge and banquet hall.
- Upside opportunity: despite steady cash flow, property is ranked 4/4 for occupancy, 3/4 for ADR, and 3/4 for RevPAR within its STR competitive set.
Investment highlights
- 143 units
- Room Revenue: $3.1M
- Total Revenue: $3.4M
- NOI: $1.4M
- Built in 1976 and fully renovated in 2019
- New Roof, windows, electrical, plumbing, etc.
- 1 building
- 5 stories
- 6.53 acres
- Concrete construction
- Indoor pool, fitness center, restaurant, bar, event space
- 4 elevators
Listing Contacts
Listed by Laurel Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,414,067.00
$117,838.92/mo
Valuation Metrics
0
DSCR
11.88%
Cap Rate
11.88%
ROI
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