Irving, Texas, is a prime location for investing in hotels, with its strong economy and diverse range of industries. As a hub for business and travel, Irving offers a unique opportunity for hotel owners to capitalize on the city's growing demand for accommodations. With 2 hotels for sale in Irving, investors can choose from a variety of properties that cater to different needs and budgets. Hotels in Irving can represent a range of investments, from boutique hotels to large chain establishments, each offering a unique set of amenities and services. Irving's strategic location, with its proximity to the Dallas Fort Worth International Airport and major highways, makes it an attractive destination for both business and leisure travelers. The city's amenities, including the Irving Arts Center, historical museums, and the Las Colinas Entertainment District, also contribute to its appeal. Additionally, Irving is home to several major corporations, including Nexstar Media Group, 7-Eleven, and Michaels Stores, which can provide a steady stream of business travelers.
Irving's hotels offer a range of characteristics that make them an attractive investment opportunity. With amenities such as restaurants, fitness centers, and meeting spaces, hotels in Irving can cater to a diverse range of clients. The city's infrastructure, including highways, bus routes, and the Trinity Railway Express commuter rail line, also makes it easy for guests to access nearby attractions and businesses. In addition to hotels, Irving is also home to a range of other property types, including restaurants, apartment buildings, and shopping centers. For example, the city's Las Colinas area is known for its upscale living, office spaces, and entertainment options, making it an attractive location for restaurants and shopping centers. Meanwhile, apartment buildings can be found throughout the city, offering a range of options for residents. Overall, Irving's diverse range of properties and amenities make it an attractive location for investors looking to capitalize on the city's growing demand for accommodations and services.
What factors should I consider when buying a hotel in Irving?
When buying a hotel in Irving, there are several key factors to consider, including:
- The local economy, which is driven by industries such as media, finance, manufacturing, energy, chemicals, and technology, and is home to major corporations like Nexstar Media Group, 7-Eleven, and Michaels Stores.
- The city's infrastructure, which includes highways like the Airport Freeway (SH 183), LBJ Freeway (I-635), and John Carpenter Freeway (SH 114), as well as the Dallas Fort Worth International Airport, a major transportation hub.
- The hotel's location and accessibility, with proximity to amenities like the Irving Arts Center, historical museums, and the Las Colinas mixed-use master-planned community, which can impact its appeal to potential guests.
Additionally, it's essential to research the current market conditions, including the average price per square foot of $127 USD, average size of 137,756 square feet, and average cap rate of. With 2 available listings of hotels in Irving, it's crucial to carefully evaluate these factors to find the right property for your investment goals.
For more information on financing your hotel purchase, consider exploring commercial real estate loans (CRE loans) options, as outlined in our article at CRE loans.
How is the value of a hotel for sale typically calculated?
In Irving, Texas, where there are currently 2 available listings of hotels, the value of a hotel for sale is typically calculated through a comprehensive CRE appraisal, which takes into account factors such as the property's income, expenses, and market value. To determine the value of a hotel, appraisers consider the property's average cap rate of , average price per square foot of $127 USD, and average size of 137,756 square feet, as well as the largest size available of 217,789 square feet.
For a more in-depth understanding of the CRE appraisal process and how it affects the value of a hotel for sale, we recommend checking out our article on CRE appraisals at CRE appraisal, which provides valuable insights into the world of commercial real estate.
