Garland, Texas, is a prime location for investing in hotels, with its rich history, diverse economy, and convenient access to downtown Dallas. Hotels in Garland offer a unique blend of comfort, amenities, and location, making them an attractive investment opportunity. Whether you're looking for a limited-service hotel or a full-service resort, Garland has a range of options to suit your investment goals. With its strong infrastructure, including Garland Power and Light, North Texas Municipal Water District, and the Garland wastewater treatment plant, the city provides a solid foundation for hotel operations. Additionally, Garland's proximity to major highways, including Interstate 30 and President George Bush Turnpike, makes it an ideal location for travelers. The city's amenities, such as the Granville Arts Center, Pace House, and Garland Landmark Museum, also attract visitors and locals alike, creating a strong demand for hotel accommodations.
Garland's hotel market is part of a larger commercial real estate landscape that includes 2 hotels for sale. The city's economy is diversified, with major industries in electronics, steel fabrication, oilfield equipment, and food processing, ensuring a steady stream of business travelers. In addition to hotels, Garland is also home to 2 restaurants, 2 apartment buildings, and 2 shopping centers for sale, offering investors a range of opportunities to diversify their portfolios. With its strong economy, convenient location, and rich history, Garland is an attractive destination for travelers and investors alike. The city's hotels, in particular, offer a unique blend of comfort, amenities, and location, making them an attractive investment opportunity in the heart of the Dallas-Fort Worth metroplex.
What factors should I consider when buying a hotel in Garland?
When considering buying a hotel in Garland, there are several key factors to take into account, including:
- Average cap rate, which is currently , to ensure a strong return on investment.
- The size and layout of the property, with average sizes ranging from 42,758 square feet to 47,528 square feet, to accommodate your target market and operational needs.
- The local economy and demand for hospitality services, driven by major industries such as electronics, steel fabrication, and food processing, as well as the presence of major employers like Kraft Foods and Baylor Scott and White hospital.
Additionally, it's essential to research the local market and consider factors like the average price per square foot, currently , and the number of available listings, with 2 hotels currently on the market. For more information on financing options, be sure to explore our article on CRE loans, which can provide valuable insights into commercial real estate financing.
How is the value of a hotel for sale typically calculated?
In the process of determining the value of a hotel for sale in Garland, Texas, a CRE appraisal is typically conducted to assess the property's worth. This involves evaluating factors such as the hotel's income, expenses, and market value, as well as its location, size, and amenities, to arrive at a fair market value, which can be influenced by the local economy, tourism industry, and competition.
For instance, with 2 available listings of hotels in Garland, the average price per square foot is , and the average size is 42,758 square feet, with the largest size being 47,528 square feet. Additionally, the average cap rate for hotels in Garland is , which can impact the overall value of the property.
For a more in-depth understanding of the CRE appraisal process, visit our article at CRE appraisals, which provides valuable insights into the methods and considerations involved in determining the value of commercial properties like hotels.
