909 66th StreetLubbock, TX 79412

For Sale
$4,950,000

Motel 6/Studio 6 – Lubbock, TX

Overview

Added:
Jan 28
Days on market:
44
The Bowman Post Group of NewGen Advisory is pleased to present for sale the Motel 6/Studio 6 – Lubbock, TX. This dual branded property, featuring 171 units—Motel 6: 122 and Studio 6: 49—is located at the interchange of I-27, SE Loop 29, and Hwy 84. Its prime location is located 10 miles from the Lubbock Airport, the Silent Wings Museum, and 5 miles away from Texas Tech University – the sixth largest university in the state. Offered at a 3.6x multiplier of the 2023 room revenue, there is great upside for a new owner as the Studio 6 is poised to provide a new stream of revenue.

Location Description
Lubbock, Texas goes by the nickname of “Hub City,” as it is known for being the economic, educational, and healthcare hub of the multi-county region. Lubbock, the 10th largest city in Texas, has a population of 266,873, further enhancing the appeal of this investment.

This city is home to rich culture and art. In Lubbock you’ll be greeted with a hospitable atmosphere, great dining options, and delightful musical acts. Additionally, Lubbock hosts a variety of festivals and events throughout the year, celebrating its vibrant community and diverse heritage.

Highlights

  • Dual branded with 171 total units: 122 Motel 6 and 49 Studio 6 Priced to sell at $28,947/key 2023 room revenue: $1,496,141 Studio 6 opened Jan 2024 with rooms continuing to be added to inventory Offered at a 3.3x multiplier of the 2023 room revenue 10th largest city in Texas with a population of 266,873

Property Details for 909 66th Street

Property type
Motels, Other hospitality properties
Square Feet
68,674 SF
Price / Square Foot
$72.08
Year Built
1979
Buildings
1
Stories
2
Elevators
N/A
Units
171

Location Insight

City
Lubbock
County
State
Texas

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909 66th Street
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