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Classic Auction - Hospitality

REO | Holiday Inn Corpus Christi

5549 Leopard Street, Corpus Christi, TX 78408

  • Asset Type
  • Real Estate
  • Property Type
  • Hospitality
  • Land Area
  • 8.12 Acres
  • Year Built
  • 1982
  • Number of Floors
  • 6
  • Number of Buildings
  • 2
  • Parking Count
  • 280
  • Hospitality Type
  • Full Service
  • Number of Rooms
  • 237 Rooms
  • Function Space Area
  • 10,979 Sq Ft

REO | Lender Sale | Value-Add Full Service Hotel

Investment Highlights

  • Large Footprint & Ideal Key Count - The Property includes over 11,000 SF of event space and sits on a footprint of more than 8 acres
  • Exceptional Central Location - Situated just off Interstate 37, near the entrance to Corpus Christi International Airport with convenient access to Downtown
  • Tremendous Upside - Currently REO, the Property offers a true value-add opportunity to step into a rapidly improving market and evaluate up-branding as well as new branding
  • Offered Unencumbered of Management 


Property Tours 

Tours Available on:

  • Tues 10/26 – Wed 10/27 – Thurs 10/28
  • Tues 11/2 – Wed 11/3 – Thurs 11/4

Please reach out to the HWE team to schedule your tour now.


Offering Overview

Hodges Ward Elliott, in conjunction with RealINSIGHT Marketplace, is pleased to present the opportunity to acquire the fee-simple interest in the 237-room Holiday Inn Corpus Christi Airport ("Property") a well-located hotel that is currently lender-owned, offering tremendous upside and repositioning potential for a new owner.

The Property features an excellent location within the booming Corpus Christi market, central to its International Airport, Downtown, Gulf Coast beaches, and the expanding Port (currently being widened and deepened for increased capacity). In addition to the Port of Corpus Christi channel expansion, another massive multi-year development is underway nearby in the Harbor Bridge Project – a $930-million investment that is the largest publicly funded infrastructure effort in Texas.

The Holiday Inn has historically generated significant cash flow (revenue of ±$4.6M just prior to Covid) and been well maintained, however now offers a unique opportunity to renovate within the existing IHG program, or convert to a different brand or alternative use (e.g. residential).

The non-union Property is offered unencumbered of management and debt.
 

Corpus Christi Highlights

  • Located 200 miles southwest of Houston, 130 miles southeast of San Antonio, and three hours north of the US-Mexico border, Corpus Christi is a popular drive-to destinations from these mega-regions, and also offers ample airlift via American, United, and Southwest Airlines.
  • Corpus Christi is home to the Naval Air Station and one of the largest ports in the nation – which is currently being expanded to double capacity.
  • With over $50 billion in capital investment over the last decade, the region is a magnet for education, tourism, commerce, and high-paying jobs.
  • Corpus Christi boasts a highly educated workforce featuring 19 independent school districts in addition to higher education options including Texas A&M Corpus Christi and Del Mar College.
  • Notable attractions Corpus Christi offers include the Texas State Aquarium, the USS Lexington Museum on the Bay, Whataburger Field, the Corpus Christi Museum of Science & History, the Selena Museum, and the Art Museum of South Texas.
  • Corpus Christi residents enjoy the benefits of a lower-than-average cost of living, short commute times, and over 180 miles of stunning beachfront along the Gulf Coast. 

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Platform Fee

The platform fee for this transaction is the greater of 5.00% or a minimum of $25,000.

Need Help?

Have questions about Marketplace? You can reach us at 800.915.7015 or info@rimarketplace.com.

Auctioneer

  • Lamar P. Fisher

    Fisher Auction Company Inc.

    License: 10344