Basic Information
We are pleased to present presents an exceptional investment opportunity - the Howard Johnson Hotel located at 105 Lamar St, Houma, Louisiana. This exclusive offering comes with a significant price reduction, making it a highly attractive venture with substantial returns. Pricing Options: Current Purchase Price: $5,000,000 + 5% Buyer's Fee Alternative Option: Seller pays real estate commission - Purchase Price: $5,250,000 Cap Rate Advantage: Previous Price: $7,200,000 Current Price: $5,000,000 Approximate Cap Rate: 25% Transaction Guidelines for 2023: Interested buyers must submit a complete Buyers Package for consideration. A Naked Letter of Intent (LOI) without corresponding documentation will not be considered. Upon execution of the Purchase and Sale Agreement and opening of the contracted escrow trust account, the seller will provide a pre-diligence package with updated financials, rent rolls, tenant leases, and vendor contracts. Buyer Requirements: To move forward, the buyer is expected to: Sign the Asset-Specific Master Fee Agreement (based on the executed purchase price). Provide an Asset-Specific Letter of Intent, including purchase price, due diligence period, and closing date. Submit a detailed Commercial Bio showcasing commercial assets held in their investment portfolio. Furnish verifiable Proof of Funds in the form of a bank or fund statement of account. Strictly no transactional or assignable contracts, and no engagement with unlicensed wholesalers. Property Features: Two-Story, 57-Room, Economy, Interior-Corridor, Wyndham-Branded Hotel. Priced at a 38.54% Cap Rate Based on August 2022 T-12. Corporate and federal contracts with offshore oil, painting, power, and entertainment companies. Strong NOI: Approximately $1.7 million in 2022. Subject to a PIP, but not due until the end of 2024. Property in excellent condition, built in 2008 with renovations in 2018-2019. Investment Highlights: 30 Oil and Gas Companies Operating in the Surrounding Area. Priced Below Replacement Cost at $50,789 Per Key. Leading Hotel in STR-Defined Competitive Set for RevPAR Growth. Projected Total Return of 171%. Location and Accessibility: Houma, Louisiana, strategically located 58 miles from New Orleans. Accessible amenities and facilities designed for guests with disabilities. Property Details: Address: 105 Lamar St, Houma, LA 70360 Building Size: 23,156 SF Lot Size: 2.95 AC No. of Rooms: 57 Year Built: 2008 Zoning Code: C-2 (General Commercial District) This exclusive hotel property offers a rare opportunity to acquire a well-performing asset at a significantly reduced price. Act swiftly as this opportunity is time-sensitive. Thank you for considering this lucrative investment opportunity.
