$499,000
For Sale

3062 Highway 277

Carrizo Springs, TX 78834
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Description

Come take a look at this Incredible opportunity to own and operate your own Event Center and 21 room Lodge. A recent surge of new jobs in the area have encouraged the current owners to rehab additional units to bring online and it's substantially paid off. From October - December 2022, they collected $40,183 in Gross Rents. Proforma would give it an NOI of approx $112k! The Event Center used to be a bar with a Liquor License. It is currently being used as a temporary office. New owner will have many possibilities to use the space as they prefer, to additionally cash flow this property.This 21 Room Lodge has one larger unit, with a kitchenette, that would be perfect for a Manager's House. This includes 14 additional acres for future development. Located on Highway 277 in Carrizo Springs, TX with 832 feet of Highway frontage. Units are currently rented on a weekly basis but could easily be changed to daily Motel rental for increased revenue. Newly installed metal roof. A wonderful capital improvement that will last the new owners for many years. Perfect for a savvy investor looking for Core Plus or Value Add Property! Countless possibilities for development of undeveloped land which is located Outside of the City Limits. This will be perfect for an investor that wants to lease out the entire property or for an owner operator that would like to live on/off site. Consider this property for your 1031 Exchange, Buy and Hold property or Flip! Offering Memorandum upon request.
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  • Construction Details
    • Type & Style
      • Property type:Purchase
  • Other
    • Source
      • MLS #:1587566

Location

Alexis AcevedoReal Estate Group
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