8051 Lyndon B Johnson Fwy Dallas, TX 75251
8051 Lyndon B Johnson Fwy Dallas, TX 75251Basics
- Date added: Added 1 year ago
- Category: Hotel
- Sold: Sold
Description
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Description:
INVESTMENT HIGHLIGHTS
- Featuring 3,900 SF of event space, the hotel’s convention center offers four polished venues.
- Easy access to Dallas Arboretum and Botanical Garden, Southern Methodist University® and major Dallas companies.
- Excellent value-add opportunity through booking of convention center for events and conference center & lease up of freestanding 5,000 SF building.
- Convenient location just four miles from Galleria Dallas & The Shops at Park Lane and just minutes from downtown to Dealey Plaza & American Airlines.
- Just 12 miles from Dallas Love Field Airport (DAL) and 19 miles from Dallas Fort Worth International Airport (DFW).
EXECUTIVE SUMMARY
IBAN Hotel, Trademark Collection by Wyndham is a 160-room hotel located at the northwest corner of the intersection of Central Expressway (US 75N) and LBJ in an area commonly referred to as Park Central. The hotel welcomes one with breakfast at The Spot, gym & fitness center, outdoor swimming pool, complimentary WiFi, parking and a well-stocked lobby lounge. Featuring 3,900 square feet of event space, the hotel’s convention center offers four polished venues (including a ballroom, banquet facility, and meeting rooms) that accommodate up to 352 conference guests or 250 banquet guests. The hotel was originally developed as a Conference Center Hotel and the entire property has recently emerged from a property wide re-positioning effort by current ownership. Conveniently down the road is the upscale shopping at the nearby Galleria Mall and a variety of dining choices at “Restaurant Row.” Whether traveling on business or pleasure, IBAN Hotel, Trademark Collection by Wyndham is positioned to meet all guest needs.FINANCIAL SUMMARY (PRO FORMA - 2023)Click Here to Access
ANNUAL ANNUAL PER SF Gross Rental Income - - Other Income - - Vacancy Loss - - Effective Gross Income - - Net Operating Income $99,999 $9.99 PROPERTY FACTS
Price $16,000,000 Lot Size 3.50 AC Price Per Room $100,000 Building Size 203,562 SF Sale Type Investment No. Rooms 160 Cap Rate 9.97% No. Stories 6 Property Type Hospitality Year Built/Renovated 1973/2021 Property Subtype Hotel Parking Ratio 3.36/1,000 SF Building Class B Corridor Interior AMENITIES
- Business Center
- Fitness Center
- Pool
- Restaurant
- High Speed Internet Access
- On-Site Bar
Building Details
- Floor covering: Concrete, Tile
- Exterior material: Brick, Stucco
- Parking: Parking Lot
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