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THE POLLARD COMPANY Hal Pollard, Broker
Investment and Development Real Estate CalDRE# 00431712
phone: 858-384-7143 | Email: [email protected], 1232 River Glen Row #54, San Diego, Ca 92111
FOR SALE BY "DUTCH AUCTION"BUDGET LODGE SAN ANTONIO
2635 NE LOOP 410 San Antonio, Texas 78217
CONTACT: HAL POLLARD, BROKER
NOTICE: THE INFORMATION CONTAINED HEREIN WAS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE, BUT IT IS NOT GUARANTEED BY BROKER. PROSPECTIVE PURCHASERS ARE STRONGLY ADVISED TO INDEPENDENTLY VERIFY ALL REPRESENTATIONS. ALL MEASUREMENTS ARE APPROXIMATE.
PRICE: The price this week (7-27-2020) is $3,750,000. The price will be reduced $25,000 per week on Monday until sold or notice of withdrawal from the market. Offers less than the asking price will be held in abeyance until that price is reached via the weekly price reductions. Number of Rooms: 198 of which approximately 102 in service as of June 24, 2020. Approximately 39 require minor renovation to get back on line and 60 require major repair. Rooms in service changes almost daily.
The property also has a free-standing restaurant of 5,029 SF leased to Casa Guadalajara restaurant.
Land Area: 2.9760 acres or 129,635 SF +/- Frontage: 290 Feet. Year Built: 1975
Room Count: 120 Double/Doubles, 78 King Rooms, Two Room sizes: 19 x 12 and 21 x 12 2017 Gross Revenue with Restaurant: $1,324,764. 2018 Gross Revenue: $1,483,8312019 Gross revenue: $1,226,870Location: Fronts Loop 410, 7.5 miles from Downtown River Walk and the "Alamo" tourist attractions. 3.5 miles East of San Antonio International Airport. Three miles from the 1.5 million SF San Antonio Military Medical Center. Traffic Count on Loop 410 in front of the property in 2017 was 157,822. REPOSITIONING OPPORTUNITY: The property is un-flagged at this time. Conversion of the building to a multi-family project is possible.
San Antonio is the second-largest city in Texas and the seventh-largest city in the United States with more than 1.4 million residents. The city has
grown by nearly ten percent since 2010, and San Antonio has the largest population gain in the country over the past year with an average of 66
new residents per day. This substantial population growth is in part due to San Antonio’s business-friendly environment and low cost of living.
The city has spent $1 billion toward investments in infrastructure, assisted favorable tax incentives, which has led to an educated workforce.
These assets have attracted businesses to open operations in San Antonio, including 12 Fortune-ranked company headquarters. This pro-
business climate has led to impressive economic growth in San Antonio over the past decade. Over the past ten years, San Antonio’s GDP has
grown by 30 percent to $109 billion. Home to 15 colleges and universities with 150,000 students, San Antonio, has direct access to a young and
educated workforce. Brooke Army Medical Center is located near the Budget Lodge of San Antonio.
Location Highlights – San Antonio, TX
MARKET
OVERVIEW
• San Antonio has a GDP of $109 billion, marking a 30 percent increase over
the past decade. It is the third fastest-growing economy among large cities.
• Sixty-six new residents move to San Antonio daily, and the city is on pace to
have 1 million additional residents over the next 25 years.
• The San Antonio metropolitan area has added more than 150,000 workers
over the past decade, increasing its labor force by 18 percent.
• With a median home value of $131,000, no state income tax, and 20 per-
cent income growth over the past decade, San Antonio is one of the most affordable
large cities in the United States.
@2020 The Pollard Company, All Rights Reserved
LOOP 410 FREEWAY
Interstate 410, known locally as Loop 410 or just "The Loop", is really a tale of two
freeways. The southern half (south of US 90) generally demarks the edge of the city
and resembles and functions more like a rural or urban fringe Interstate than an ur-
ban freeway. Meanwhile, the northern arc is the most heavily traveled freeway in the
region and is home to a major chunk of the area's suburban office space and several
major shopping centers. The Loop also provides access to San Antonio International
Airport, the South Texas Medical Center, the Southwest Research Institute and Texas
Biomedical Research Institute, the Westover Hills area and Sea World of Texas, the
National Security Agency campus, Ft. Sam Houston, Lackland AFB, Brooks City-Base,
Stinson Municipal Airport, the San Antonio Missions Trail National Park, Palo Alto
College, Texas A&M University - San Antonio, the Toyota assembly plant and adjacent
facilities, and the cities of Castle Hills, Balcones Heights, Leon Valley, Kirby, and Wind-
crest. Average daily Traffic count in front of the Budget Lodge was 158,807 in 2017.
BUDGET LODGE OF SAN ANTONIO, TEXAS
Northeast LOOP 410
BUDGET LODGE OF SAN ANTONIO, TEXAS
BUDGET LODGE
Huge Fish Pond Lobby area.
Banquet Hall Breakfast area.
Outdoor Fountain Typical Double Room
New Pole Sign Guadalajara Restaurant and Sport Bar
Budget Lodge San Antonio, Site and Interior Photos
The information contained herein does not purport to provide a complete or fully accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective buyers may need or desire.All financial projections are based on assumptions relating to the general economy, competi-tion, and other factors beyond the control of the Owner and Broker and, therefore, are subjectto material deviations. This Marketing Package does not constitute an indication that therehas been no change in the business or affairs of the Property or the Owner since the date ofpreparation of the information herein. Additional information and an opportunity to inspect theProperty will be made available to interested and qualified prospective buyers.
Neither Owner nor Broker nor any of their respective officers, Agents or principals has made or will make any representations or warranties, express or implied, as to the accuracy or com-pleteness of this Marketing Package or any of its contents, and no legal commitment or obli-gation shall arise by reason of the Marketing Package or its contents. Analysis and verifica-tion of the information contained in the Marketing Package is solely the responsibility of the prospective buyer, with the Property to be sold on an “as-is”, “where-is” basis without any rep-resentations as to the physical, financial or environmental condition of the Property.
Owner and Broker expressly reserve the right, at their sole discretion, to reject any or all ex-pressions of interest or offers to purchase the Property and/or terminate discussions with any entity at any time with or without notice. Owner has no legal commitment or obligations to any entity reviewing this Marketing Package or making an offer to purchase the Property un-less and until such sale of the Property is approved by Owner it its sole discretion, a written agreement for the purchase of the Property has been fully delivered, and approved by Owner, its legal counsel and any conditions to the Owner’s obligations thereunder have been satis-fied or waived.
This Marketing Package and its contents, except such information which is a matter of public record or is provided in sources available to the public (such contents as so limited herein called the “Contents”), are of a confidential nature. By accepting this Marketing Package, you unconditionally agree that you will hold and treat the Marketing Package and the Contents in the strictest confidence, that you will not disclose the Marketing Package or any of the Con-tents to any other entity (except in the case of a principal, who shall be permitted to disclose to your employees, contractors, investors and outside advisors retained by you, or to third-party institutional lenders for financing sought by you, if necessary, in your opinion, to assist in your determinations of whether or not to make a proposal) without the prior authorization of the Owner or Broker, and that you will not use the Marketing Package or any of the Contents in any fashion or manner detrimental to the interest of the Owner or Broker.
THE POLLARD COMPANY Hal Pollard, Broker
Investment and Development Real Estate California BRE #00431712
CONFIDENTIAL OFFERING
SPECIAL COVID-19 NOTICE
All potential buyers are strongly advised to take advantage of their opportunities and obligations to
conduct thorough due diligence and seek expert opinions as they may deem necessary, especially
given the unpredictable changes resulting from the continuing COVID-19 pandemic. The Pollard
Company has not been retained to perform, and cannot conduct, due diligence on behalf of any pro-
spective purchaser. The Pollard Companies principal expertise is in marketing investment properties
and acting as intermediaries between buyers and sellers. The Pollard Company and its investment
professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All poten-
tial buyers are admonished and advised to engage other professionals on legal issues, tax, regula-
tory, financial, environmental, design, survey and accounting matters, and for questions involving
the property’s physical condition or financial outlook. Projections and pro forma financial statements
are not guarantees and, given the potential volatility created by COVID-19, all potential buyers
should be comfortable with and rely solely on their own projections, analyses, and decision-making.
11-2-2015
TYPES OF REAL ESTATE LICENSE HOLDERS: A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker. A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.
A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): Put the interests of the client above all others, including the broker’s own interests; Inform the client of any material information about the property or transaction received by the broker; Answer the client’s questions and present any offer to or counter-offer from the client; and Treat all parties to a real estate transaction honestly and fairly.
A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:
AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.
AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.
AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:
Must treat all parties to the transaction impartially and fairly; May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and
buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction. Must not, unless specifically authorized in writing to do so by the party, disclose:
ᴑ that the owner will accept a price less than the written asking price;ᴑ that the buyer/tenant will pay a price greater than the price submitted in a written offer; andᴑ any confidential information or any other information that a party specifically instructs the broker in writing not to
disclose, unless required to do so by law.
AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.
TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: The broker’s duties and responsibilities to you, and your obligations under the representation agreement. Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.
LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.
Information About Brokerage Services Texas law requires all real estate license holders to give the following information about
brokerage services to prospective buyers, tenants, sellers and landlords.
.
Designated Broker of Firm License No. Email Phone
Licensed Supervisor of Sales Agent/Associate
License No. Email Phone
Licensed Broker /Broker Firm Name or Primary Assumed Business Name
License No. Email Phone
Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov
IABS 1-0
Date Buyer/Tenant/Seller/Landlord Initials
Sales Agent/Associate’s Name License No. Email Phone
Harold B. Pollard, II CalBRE #431712 [email protected] 858-384-7143