Hotels for sale in Tyler, Texas, offer a unique investment opportunity in a city known for its rich history, cultural attractions, and strong economy. With 1 hotels available for sale, investors can tap into the city's growing tourism industry, which is driven by its reputation as the "Rose Capital of America" and its numerous festivals and events. Hotels in Tyler can cater to a diverse range of clients, from business travelers visiting the city's major corporations, such as Brookshire Grocery Company and Trane Technologies, to tourists exploring the city's historic architecture, rose gardens, and outdoor recreational activities. Tyler's strategic location, with easy access to major highways and the Tyler Pounds Regional Airport, makes it an attractive destination for travelers. The city's amenities, including the University of Texas at Tyler, Caldwell Zoo, and Broadway Square Mall, also contribute to its appeal as a tourist destination.
Tyler's hotel market is characterized by an average price per square foot of $121 USD, with an average size of 48,016 square feet and a largest size of 48,016 square feet. The average cap rate for hotels in Tyler is 9.09%. In addition to hotels, Tyler also offers a range of other investment opportunities, including restaurants, apartment buildings, and shopping centers. For example, restaurants in Tyler can benefit from the city's growing food scene, which is driven by its cultural diversity and proximity to major agricultural regions. Apartment buildings in Tyler can cater to the city's growing student population, with institutions like the University of Texas at Tyler and Tyler Junior College driving demand for housing. Shopping centers in Tyler, such as the Broadway Square Mall, can benefit from the city's strong retail sector, which is driven by its major employers and tourist attractions. Overall, Tyler offers a unique blend of cultural, economic, and recreational attractions that make it an attractive destination for investors and travelers alike.
What factors should I consider when buying a hotel in Tyler?
When buying a hotel in Tyler, there are several key factors to consider, including:
- The local economy, which is driven by industries such as manufacturing and retail, and major employers like Brookshire Grocery Company and Trane Technologies, which can impact the demand for hotel rooms.
- The city's amenities, such as the University of Texas at Tyler, Caldwell Zoo, and Tyler State Park, which can attract tourists and business travelers, as well as the availability of CRE loans or commercial real estate loans to finance your investment (learn more at CRE loans).
- The current market conditions, including the average price per square foot of $121 USD, average size of 48,016 square feet, and average cap rate of 9.09%, as well as the number of available listings, 1, which can affect the competitiveness of the market.
How is the value of a hotel for sale typically calculated?
When evaluating a hotel for sale in Tyler, the value is typically calculated through a combination of methods, including an income approach, a sales comparison approach, and an asset-based approach. For a more in-depth understanding of the hotel valuation process, it's essential to consult a CRE appraisal, as outlined in our article at CRE appraisals, which provides a comprehensive guide to commercial real estate appraisals.
