For Auction

Holiday Inn Express & Suites - Cleveland TX

600 Hwy 59 South,
Cleveland, TX 77327Represented by
Hunter Hotel Advisors

Asset Snapshot

Real Estate
Asset Type
Hospitality
Property Type
Select Service
Hospitality Subtype
2011
Year Built
3
Floor Count
1
Building Count
73
Parking Spots
68
Number of Rooms

Offering Summary

Investment Highlights:

  • Fee simple interest in the 68-room Holiday Inn Express Cleveland TX offered at a substantial discount to replacement cost 
  • Absentee-owned hotel with significant upside for a prospective buyer taking over for current management 
  • Ability to retain the Holiday Inn Express flag for a long-term license upon completing the Formula Blue or assume the remaining term until December 2023 without a new change of ownership PIP
  • Elements of the Formula Blue PIP have been completed thus reducing future renovation budgets
  • Situated directly adjacent to and directly visible from US Interstate 69, the primary commercial corridor for Cleveland and Northeast Houston with more than 25,000 vehicles passing the location daily
  • Optimal time to be investing in the Houston MSA with the city home to nearly 7MM residents, the second highest number of Fortune 500 headquarters within the US, and a highly favorable tax climate that will incentivize economic growth and diversification in the midst of the national economic recovery
  • Houston was the second fastest growing metropolitan area from 2010-2019 with approximately 1.28MM new residents and is projected to gain another 1.24MM residents by 2029, which will make Houston one of the fastest growing metro areas in the US for two consecutive decades


The Offering:

Paramount Lodging Advisors and RealINSIGHT Marketplace are pleased to present for sale the fee simple, absentee owned, 68-room Holiday Inn Express & Suites Cleveland, TX. The Property, built in 2011, is located in the northern section of the Houston, TX MSA along Interstate 69. This unique opportunity allows an investor to acquire a well-maintained, positive cash flowing asset that is unencumbered of management and is ideally located in 5th largest MSA in the U.S.

Property Tours: 

Tours will be by appointment only. Please reach out to the Paramount Lodging Advisors team to schedule your tour. 

  • Tuesday, January 26th to Thursday, January 28th
  • Tuesday, February 9th to Thursday, February 11th

 

Due Diligence

Platform Fee

Buyer pays a minimum platform fee of 5% or $25,000 at closing.

How it Works

Learn about bidding, reserve prices, and closing.

Read the auction guide

Auctioneer

Lamar P. Fisher
Fisher Auction Company Inc.
License: 10344

Need Help?

Your transaction managers are your first point of contact for any auction or process questions. For additional support:

info@rimarketplace.com800-915-7015

Call For More Information

This auction has ended. Interested in additional investment opportunities?
Financing Available

Investment Sales Brokers

Kami Burnette
Hunter Hotel Advisors
TX License: 688841
(512) 574-1786kamiburnette@gmail.com
MM
Mason McDavid
Paramount Lodging Advisors
TX License: 731557
(214) 549-2125mmcdavid@paramountlodging.com

Debt Placement Brokers

JP
John Pascal
Paramount Capital Advisors
(847) 922-2767JOHN@PARAMOUNTCAPITALADVISORS.COM
TC
Tyler Cornelius
Paramount Capital Advisors
(312) 584-1360tyler@paramountcapitaladvisors.com

Disclaimers

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.