Property Overview
The Cobblestone in Andrews is an excellent opportunity to acquire a hotel at under 3x room revenue multiplier, with revenues continuing to grow year-over-year.
The property was newly constructed in 2020 and is in excellent condition. T-12 revenues are approaching $1.2M under absentee ownership and third-party management — presenting significant upside for an involved operator.
Highlights:
• Under 3x room revenue multiplier
• T-12 revenue near $1.2M and growing YOY
• Absentee Owned
• Third party managed (can be terminated at sale)
• Newly constructed in 2020 - excellent condition
• Permian Basin location, 30 mins north of Midland/Odessa
• Strong upside for hands-on ownership
Please do not contact the property directly. For more information and to schedule a tour, contact Ted Holmes after executing a confidentially agreement.
Property Highlights
| Asking Price | $3,300,000 |
| Location | U.S. Highway 385 and State Highway 176 |
| Property Description | Limited Service |
| Number of Rooms | 54 |
| Major Source of Business | Energy, Industrial, Medical, Transient, Leisure, Corporate, Agriculture & Retail |
| Site Size | +/- 3.13 |
| Year Built |
2020 |
| Common Area Amenities | Breakfast area, business center, fitness center, elevator, meeting room, guest laundry, indoor pool, beer and wine bar/lounge, onsite convenience store & RV/truck/trailer parking |