400 Spanish Towne Blvd, New Iberia, LA 70560
400 Spanish Towne Blvd, New Iberia, LA 70560
$9,000,000
Basics
- Date added: Added 2 years ago
- Category: Hotel
- Rent Period: Daily
- Type: Limited Service
- Status: For Sale
- Guestrooms: 102
- Bedrooms: 102
- Floors: 3
- Area, sq ft: 63603 sq ft
- Lot size, sq ft: 152460 sq ft
- Year built: 2010
- Price per sq ft: $141.50
- Price Per Key: $88,235.29
- Cap rate: 8.84%
- NOI: $797,917
- Occupancy: 56.77%
- Broker: Hotel Brokers of America
- Agent: Subhash Naik
- Agent Phone: 661-808-4998
- Agent Email: Deals@hbofamerica.com
- Website:: https://hotelbrokersinc.com/
Description
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Description:
Hotel Brokers of America is pleased to offer you the opportunity to acquire the newly renovated Hampton Inn and Suites located in New Iberia Avery Island, LA. This property is located 8 miles from Avery Island, (home to the Tabasco brand factory tour…a very popular tourist destination) and is just off Hwy-90 at LA-14, less than 20 miles from both the Lafayette Regional and Acadiana Regional Airports. New Iberia is renowned for its unique culture and cuisine, which draw from the melting pot of its Native American-Spanish-French-African American-Creole heritage. The city of New Iberia hosts many annual celebrations, festivals, etc…all keeping the public and tourists engaged.
- As part of the Hilton brand, this hotel benefits from the worldwide recognition of the Hampton Inn & Suites brand. It is known nationally as the market leader in limited-service hotels across the U.S.
- Located less than 20 miles from both the Lafayette Regional and Acadiana Regional Airports
- The closest major airport to the hotel is the New Orleans International Airport which is approximately 2 hours away.
- The property was built in 2010 and has been under renovation since 2021. Its underperformance in 2021/2022 can be attributed to the renovation of room blocks.
- The property after PIP will have tremendous upside which we are now starting to see with the recent increase in revenue.
- The property after PIP has tremendous upside which we are now starting to see with the recent increase in revenue reaching $2.2M and targeted to achieve $2.4M-$2.5M
- Owners have spent $2,000,000 on the renovation since owning.
- The new Owner will expect to receive a new 15-20 year license with Hilton.
Show all descriptionInvestment Highlights
- Priced at $9,000,000
- Extensive Forever Young Renovation Completed!
- Priced Extremely Well at $88,235 Per Key
- Includes Spacious Conference and Banquet Center
- Competitive Set Leader in ADR
- Tremendous Upside Potential
Building Details
- Cooling features: PTAC
- Heating features: PTAC
- Floor covering: Carpet, Concrete, Hard wood, Laminate, Linoleum/vinyl, Slate, Softwood, Tile
- Basement: Unfinished
- Exterior material: Brick, Stone, Wood
- Roof: Asphalt
- Parking: Parking lot
Amenities & Features
- Features:
Nearby Schools
- Elementary School: Pesson Elementary School
- Secondary School: Epiphany Day School
- High School: New Iberia Senior High
- College: Louisiana Technical Colege
- University: Life Christian University
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