Hospitality•Limited Service•For Sale

100-Room Rodeway Inn - Note Sale

2502 Loop 306, San Angelo, Texas 76904

Sale Price Market
Zoning C-G - General Commercial
Year Built 1986
Stories 2
Gross Bldg 50,688 SqFt
Land Area 3.3 Acres
Market San Angelo
On-Site Inspections: February 6, 11:00 am - 12:30 pm Hilco Real Estate is pleased to announce the opportunity for investors to acquire the Bank Note on the 100-Room Rodeway Inn in San Angelo, Texas. This is a Sale of a Non-Performing Note. The hotel includes both restaurant and lounge outlets that are leased and are producing additional income. Important Details: The note will mature on 5/28/2019. The note is due for the 10/28/2018 payment (74 Days Past Due) Principal Balance $3,720,833.51 plus accrued interest. The foreclosure process has been initiated, an acceleration letter was mailed the week of 1/7/19 Rodeway Inn San Angelo is a 100-unit exterior corridor economy hotel located off Loop 306 in San Angelo, Texas. The hotel provides easy access to Angelo State University and, San Angelo Community Medical Center, Sunset Mall and Goodfellow Air Force Base. The hotel is situated less than seven miles from the Mathis Field Airport, the only commercial airport serving the Concho Valley. Downtown San Angelo and the historic district are only minutes away from the property. Rodeway Inn San Angelo was built in 1986 and has been maintained in excellent condition. The hotel was recently renovated to include new case goods, carpet, vanity counter tops, flat panel televisions and new lighting packages in all guest rooms. A lounge and a restaurant are attached to the property which are currently leased to third parties and generates continuous rental income for the ownership.
  • On-Site Inspections: February 6, 11:00 am - 12:30 pm
  • Non-Performing Note
  • Note Par Value: $3,965,000
  • Gross Revenue: $931,726 (2017)
  • Bank Financing Available
  • 15% Down for Qualified Buyers
1/11/2019 3:38:28 PM 3/14/2019 10:17:45 PM
Abraham Mizrahi
Project Manager
Hilco Real Estate

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