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t r a n s l a t e

REO Former Wyndham Garden Inn Amarillo | 259 Keys

3100 I-40 W
Amarillo, TX 79102
PRICE : Contact Bull Realty for information
PROPERTY TYPE: Hospitality
SITE SIZE: 6.03 Acres
BUILDING SIZE: 176,979 SF
YEAR BUILT: 1983

Highlights

  • Custom STR Trend Report 2018 Occupancy: 76%
  • Custom STR Trend Report 2018 ADR: $104.85
  • Custom STR Trend Report 2018 RevPAR: $79.63
  • PCA Cost Estimate Year 1: $3,636,233
  • Mortgage-Equity Valuation of Stabilized Property: $25 - $28 million
  • New developments in higher education, healthcare and leisure
  • Central location in the market
  • Located directly off I-40
  • Foreign Trade Zone (FTZ)
  • Competitive Renewable Energy Zone (CREZ)
  • Broker of Record: Randy Reid Company, LLC TX License #: 527773

Description

Bull Realty is pleased to offer, on an exclusive basis, the opportunity to acquire a lender-owned, currently non-operational 259-key former Wyndham Garden Inn in Amarillo, Texas unencumbered by management, and franchise. This opportunity presents a developer an opportunity to restore a full-service property with multiple brand options: currently, there is a PIP from Wyndham Garden in hand, IHG is interested in converting to a Crowne Plaza, and Hilton is interested in discussing a conversion in Q1 of 2020. An STR Trend Report is available of Hilton, Marriott and IHG properties in the market, which was used to forecast a pro forma, mortgage-equity valuation and investment analysis; as well as property condition assessment. A property condition assessment (PCA) is also available with cost estimate to make the property fully operational as an independent.

The city of Amarillo is the economic center of the Texas Panhandle, Oklahoma Panhandle and eastern New Mexico. The market has a diverse mix of demand generators in healthcare, government agencies, manufacturing and leisure with subject property in a central location.

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