1008 Sheppard Rd

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Address: 1008 Sheppard Rd, Burkburnett, Texas, US
Created date: February 19, 2024
Date last updated: February 19, 2024
  • Offered at 12.5% current cap rate. Proforma Cap Rate is valued at 13% or more.
  • Offered at $53,750 per key, well below replacement cost.
  • 26% Cash-On-Cash return
  • Ideal size for owner-operator
  • Owner Absentee property. Potential for a new operator to cut down on expenses and increase NOI.
  • Currently operating at a 66% Occupancy and RevPAR Index compared to Compset. Perfect opportunity for an owner-operator to boost revenue and occupancy over time.
  • New ownership may have to complete a new PIP. We are projecting an annual increase of 10% - 15% in topline revenue.
  • Last Renovated in 2016
  • 8 minutes from River Creek Golf Course
  • 8 minutes from the Kiowa and Camanche Casinos
  • Under 2 hour drive to Dallas-Fort Worth, Texas

Property Description

We are pleased to present the sale of the former Best Western located in Burkburnett, Texas, listed exclusively with Tabani Realty. The hotel is currently operating independently, however, the property can be converted to a Comfort Suites, Sparks by Hilton, or Hampton Inn & Suites. The 36,281-square-foot hotel has 80 rooms and is listed at $53,750 per key, well below replacement value, and offered at a 12.5% Cap Rate. The former Best Western is currently operating at a 66% Occupancy and RevPAR index compared to Compset, providing an excellent opportunity for an owner-operator to boost revenue and occupancy over time. The newly renovated hospitality property offers guests spacious, renovated rooms, and access to the property’s indoor pool, fitness room, and business center. Located off Highway 44, the hotel is an 8-minute drive from the River Creek Golf Course, the Kiowa Casino, and the Camanche Casino. The subject property is also within a 2-hour drive from the Dallas-Fort Worth metroplex and only 13 miles from Wichita Falls, Texas.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings | Hospitality
Price: $4,300,000
No. of Units: 80
Year Built: 2006
Lot Size: 1.66 Sq ft
Opportunity Zone: No
Price per unit: $53,750
Property Website Click Here
Address: 1008 Sheppard Rd, Burkburnett, TX 76354, USA
Provided by:

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