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3902 HWY 35 N, Fulton, TX 78358
ECONO LODGE ROCKPORT
HOSPITALITY FOR SALE
PROPERTY OVERVIEW
The Econo Lodge Inn & Suites Fulton Rockport near Blue Wave
Beach is a 79 room, exterior corridor, two-story hotel located in
Fulton (Rockport) Texas. The hotel was built in 1986 and fully
updates in 1995. The most recent renovation was completed in 2017
with all Cooring redone in rooms per Choice approval. Rooms were
repainted, new roof was installed, bathrooms remodeled, lobby and
breakfast areas were renovated and LED lights were installed. New
drapes and The property is offered with minimal to no PIP for new
buyer.
Current ownership is absentee and the property is currently being
overseen by onsite manager, but is unencumbered. This investment
provides an owner operator the opportunity to purchase the hotel
below replacement cost and increase NOI.
Extra land is available for future development.
SALE PRICE: $3,900,000
PRICE PER UNIT: $49,367
LOT SIZE: 3.26 Acres
# OF ROOMS: 79
BUILDING SIZE: 46,554 SF
2017 NOI: $657,646
CAP RATE: 16.8% (2017)
OCC/ADR: 70% ADR $90
YEAR BUILT: 1986
RENOVATED: 1995/2017
ZONING: C-1
SINGH COMMERCIAL GROUP210.696.9996
10999 IH-10 West,
Ste. 175
San Antonio, TX 78230
www.singhcommercialgroup.com/
We obtained the information above from sources we believe to be reliable. However, we have not veri4ed its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or 4nancing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
RAV SINGH, CCIMDirector0 [email protected] #0560351
3902 HWY 35 N, Fulton, TX 78358
ECONO LODGE ROCKPORT
HOSPITALITY FOR SALE
PROPERTY HIGHLIGHTS
• 16.8% Cap Rate on 2017 actuals with a 84% Cash ROI for2017 with 20% down at current commercial mortgagerates
• Based on 2017 revenue Bgures and annualized expenses,the hotel is currently operating slightly above 50 percentproBt margin or a $657,646 NOI
• 2018 revenue is projected to do over $1.5+ Million,therefore, cap rate and ROI will be even stronger
• Property includes an outdoor pool along many amenitiesfor guest convenience
• Currently the hotel is run with an onsite manager andwould therefore offer new ownership strong upsidepotential with proper management in place
• 2 bedroom owners/manager's house is included in the sale
• Average ADR $90; Average OCC 70+%
SINGH COMMERCIAL GROUP210.696.9996
10999 IH-10 West,
Ste. 175
San Antonio, TX 78230
www.singhcommercialgroup.com/
We obtained the information above from sources we believe to be reliable. However, we have not veri4ed its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or 4nancing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
RAV SINGH, CCIMDirector0 [email protected] #0560351
SINGH COMMERCIAL GROUP210.696.9996
10999 IH-10 West,
Ste. 175
San Antonio, TX 78230
www.singhcommercialgroup.com/
We obtained the information above from sources we believe to be reliable. However, we have not veri4ed its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or 4nancing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
RAV SINGH, CCIMDirector0 [email protected] #0560351
3902 HWY 35 N, Fulton, TX 78358
ECONO LODGE ROCKPORT
HOSPITALITY FOR SALE
SINGH COMMERCIAL GROUP210.696.9996
10999 IH-10 West,
Ste. 175
San Antonio, TX 78230
www.singhcommercialgroup.com/
We obtained the information above from sources we believe to be reliable. However, we have not veri4ed its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or 4nancing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
RAV SINGH, CCIMDirector0 [email protected] #0560351
3902 HWY 35 N, Fulton, TX 78358
ECONO LODGE ROCKPORT
HOSPITALITY FOR SALE
SINGH COMMERCIAL GROUP210.696.9996
10999 IH-10 West,
Ste. 175
San Antonio, TX 78230
www.singhcommercialgroup.com/
We obtained the information above from sources we believe to be reliable. However, we have not veri4ed its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or 4nancing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
RAV SINGH, CCIMDirector0 [email protected] #0560351
3902 HWY 35 N, Fulton, TX 78358
ECONO LODGE ROCKPORT
HOSPITALITY FOR SALE
SINGH COMMERCIAL GROUP210.696.9996
10999 IH-10 West,
Ste. 175
San Antonio, TX 78230
www.singhcommercialgroup.com/
We obtained the information above from sources we believe to be reliable. However, we have not veri4ed its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or 4nancing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
RAV SINGH, CCIMDirector0 [email protected] #0560351
3902 HWY 35 N, Fulton, TX 78358
ECONO LODGE ROCKPORT
HOSPITALITY FOR SALE
3902 HWY 35 N
3902 HWY 35 N, Fulton, TX 78358
ECONO LODGE ROCKPORT
HOSPITALITY FOR SALE
SINGH COMMERCIAL GROUP210.696.9996
10999 IH-10 West,
Ste. 175
San Antonio, TX 78230
www.singhcommercialgroup.com/
We obtained the information above from sources we believe to be reliable. However, we have not veri4ed its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or 4nancing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
RAV SINGH, CCIMDirector0 [email protected] #0560351
SINGH COMMERCIAL GROUP210.696.9996
10999 IH-10 West,
Ste. 175
San Antonio, TX 78230
www.singhcommercialgroup.com/
We obtained the information above from sources we believe to be reliable. However, we have not veri4ed its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or 4nancing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
RAV SINGH, CCIMDirector0 [email protected] #0560351
* Demographic data derived from 2010 US Census
3902 HWY 35 N, Fulton, TX 78358
ECONO LODGE ROCKPORT
HOSPITALITY FOR SALE
ETHNICITY 1 MILE 10 MILES 30 MILES
% HISPANIC 22.4% 28.6% 37.7%
RACE 1 MILE 10 MILES 30 MILES
% WHITE 95.1% 89.4% 87.2%
% BLACK 0.0% 1.4% 2.2%
% ASIAN 0.0% 2.2% 1.2%
% HAWAIIAN 0.0% 0.0% 0.0%
% INDIAN 0.0% 0.1% 0.4%
% OTHER 2.2% 3.1% 6.0%
POPULATION 1 MILE 10 MILES 30 MILES
TOTAL POPULATION 183 12,327 58,861
MEDIAN AGE 47.2 44.4 38.5
MEDIAN AGE (MALE) 48.1 45.1 37.5
MEDIAN AGE (FEMALE) 46.5 43.8 38.5
HOUSEHOLDS & INCOME 1 MILE 10 MILES 30 MILES
TOTAL HOUSEHOLDS 79 5,146 22,297
# OF PERSONS PER HH 2.3 2.4 2.6
AVERAGE HH INCOME $64,665 $56,726 $60,717
AVERAGE HOUSE VALUE $102,382 $140,967
� � � �
11-2-2015
Information About Brokerage Services Texas law requires all real estate license holders to give the following informaƟon about
brokerage services to prospecƟve buyers, tenants, sellers and landlords.
TYPES OF REAL ESTATE LICENSE HOLDERS: .• A BROKER is responsible for all brokerage acƟviƟes, 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 informaƟon about the property or transacƟon received by the broker; • Answer the client’s quesƟons and present any oīer to or counter-oīer from the client; and • Treat all parƟes to a real estate transacƟon 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 wriƩen lisƟng to sell or property management agreement. An owner's agent must perform the broker’s minimum duƟes above and must inform the owner of any material informaƟon about the property or transacƟon known by the agent, including informaƟon 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 wriƩen representaƟon agreement. A buyer's agent must perform the broker’s minimum duƟes above and must inform the buyer of any material informaƟon about the property or transacƟon known by the agent, including informaƟon disclosed to the agent by the seller or seller’s agent.
AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parƟes the broker must first obtain the wriƩen agreement of each party to the transacƟon. The wriƩen agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligaƟons as an intermediary. A broker who acts as an intermediary:
• Must treat all parƟes to the transacƟon imparƟally and fairly; • May, with the parƟes' wriƩen consent, appoint a diīerent license holder associated with the broker to each party (owner and
buyer) to communicate with, provide opinions and advice to, and carry out the instrucƟons of each party to the transacƟon. • Must not, unless specifically authorized in wriƟng to do so by the party, disclose:
େ that the owner will accept a price less than the wriƩen asking price; େ that the buyer/tenant will pay a price greater than the price submiƩed in a wriƩen oīer; and େ any confidenƟal informaƟon or any other informaƟon that a party specifically instructs the broker in wriƟng 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 transacƟon 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 duƟes and responsibiliƟes to you, and your obligaƟons under the representaƟon 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 noƟce is being provided for informaƟon purposes. It does not create an obligaƟon for you to use the broker’s services. Please acknowledge receipt of this noƟce below and retain a copy for your records.
Licensed Broker /Broker Firm Name or Primary Assumed Business Name
License No. Email Phone
Designated Broker of Firm License No. Email Phone
Licensed Supervisor of Sales Agent/Associate
License No. Email Phone
Sales Agent/Associate’s Name License No. Email Phone
Regulated by the Texas Real Estate Commission
Buyer/Tenant/Seller/Landlord Initials
InformaƟon available at www.trec.texas.gov IABS 1-0
Date
Keller Williams Realty City View 547594 [email protected] 210.696.9996
Howard John Flournoy 127300 [email protected] 210.853.0753
Jim McClung 332864 [email protected] 210.696.9996
Rav Singh [email protected] 210.696.9996560351
