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Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
34298836
34298837

103 S Pecan St, Hico, TX 76457 For Sale

BH
Clark Real Estate Group Weatherford
Listed by Clark Real Estate Group Weatherford
$2,800,000
16 days on market
Updated 16 days ago

103 S Pecan St

Details
Property Type Hospitality, Retail
Sub Type Hotel, Restaurant (+1)
Square Footage 16,722
Units 13
NOI $81,050
Year Built 1896
Year Renovated 2018
Stories 2
Acreage 0.190
Zoning Commercial
Ground Lease No

Historic Charm Meets Prime Commercial Opportunity

Marketing description

Historic Charm Meets Prime Commercial Opportunity! Located on a prominent corner in the Heart of Hico, the iconic *Midland Hotel and Chophouse* is ready for its next chapter. Originally constructed in 1896 and completely restored in 2016-18, this landmark property boasts incredible visibility, historic architectural character, and immense potential for a boutique hotel, premier dining destination, or a multi-use commercial venture. The Hotel and Restaurant-Bar have been in operation since the opening in 2018 and have built a strong reputation and clientele for great food, inviting atmosphere, quality service and hospitality, featuring clean, spacious, comfortable rooms. Situated on the northeast corner of N Pecan St and E 1st St, it offers excellent foot traffic and a commanding street presence. Conveniently located between the DFW Metroplex and Texas Hill Country, Hico has been attracting weekend travelers for the past several years and the Hico Economic Development Corporation along with local investors and developers are well on the way to completely revitalizing the downtown area. Bring your vision to this legendary piece of local history and Turnkey Operation with established branding and an active revenue stream. NOW is your Golden Opportunity to invest in Hico, Texas!!! Included in Sale: *Real Estate (land and building) *All guest room furnishings, restaurant and lobby decor, furniture and fixtures *Complete commercial kitchen and bar (turnkey physical setup) Excluded from Sale: *Current tenant's business entity, personal equipment, software, operational goodwill and customer data *All proprietary recipes, menus and culinary intellectual property *Advertising and social media accounts

Investment highlights

  • ICONIC DOWNTOWN HICO LANDMARK
  • ORIGINALLY BUILT IN 1896
  • FULLY RESTORED BETWEEN 2016–2018
  • OPERATING HOTEL, RESTAURANT, AND BAR
  • PROMINENT CORNER LOCATION
  • HIGH VISIBILITY AND STRONG STREET PRESENCE
  • ESTABLISHED BRANDING AND REVENUE STREAM
  • BOUTIQUE HOTEL, DINING, OR MULTI-USE POTENTIAL
  • TURNKEY PHYSICAL SETUP INCLUDED
  • LOCATED BETWEEN DFW AND THE TEXAS HILL COUNTRY

Listing Contacts

BH
Clark Real Estate Group Weatherford
Listed by Clark Real Estate Group Weatherford

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$81,050.00
$6,754.17/mo

Valuation Metrics

0
DSCR
2.89%
Cap Rate
2.89%
ROI

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