22996 Highway 60 Matagorda, TX 77456 1
EXECUTIVE SUMMARY VITAL DATA Price $1,250,000 MAJOR EMPLOYERS Down Payment 25.76% / $321,978 Loan Amount $947,813 Loan Type Proposed New Interest Rate / Amortization 5.75% / 30 Years Price/Room $156,250 Ownership Type Fee Simple Number of Rooms 8 Rentable Square Feet 10,000 Number of Buildings 2 Number of Stories 2 Year Built 2007 Lot Size 0.52 acre(s) EMPLOYER # OF EMPLOYEES River Bend Tavern & Marina 32 Matagorda Volunteer Fire Dept 25 Matagorda Elementary School 21 Arnold Seafood 16 Stanleys Food Market 12 Diamond Marine Services 10 Ernest H Treybig 10 Matagorda County Precinct 2 10 Full Stringer Realty LLC 9 Craig A Hlavinka 8 Coastal Construction Inc 5 Kathryn R Moose 5 DEMOGRAPHICS 1-Miles 3-Miles 5-Miles 2016 Estimate Pop 410 518 750 2016 Census Pop 418 528 764 2016 Estimate HH 174 263 344 2016 Census HH 176 267 350 Median HH Income $52,335 $51,734 $51,224 Per Capita Income $27,855 $33,123 $29,781 Average HH Income $65,842 $65,225 $64,879 # 2
INVESTMENT OVERVIEW Casual elegance along Texas' Gulf Coast, The Lodge offers eight upscale rooms with expanded porches and views of the water. Clientele include wedding parties, corporate retreats, deep sea fishing groups and families. The Sellers have been focused primarily on the retail component, which draws business from all over the State, and have not aggressively pursued the rooms side of the business. Amenities include flat screen TV's, organic bedding, gourmet coffee machines, original artwork and fireplaces. Matagorda County is a picturesque community steeped in historical significance, a history that goes back 500 years. The area supports major industrial groups including Phillips 66, Tenaris, and Celanese Chemical, as well as Major Medical Group and Wharton County Junior College, ranked #1 community college in Texas for 2015/2016. As one of the top-ranked birding spots on the globe, birding enthusiasts from all over the world travel to see more than two hundred species of birds. Offering boating, fishing, golfing, canoeing and kayaking, Matagorda County is also host to the annual Matagorda Livestock Show & Rodeo and is home to the LCRA Matagorda Bay Nature Park, and Matagorda County Birding Nature Center. Travel & Leisure Magazine has declared Matagorda Beach as one of the "Best Secret Beaches on Earth". For more on the property and its offerings, visit: www.karankawavillage.com INVESTMENT HIGHLIGHTS A Luxury Lodge on Texas' Gulf Coast with Adjacent 4,000 SF Mercantile & Art Gallery Midway Between Galveston and Corpus Christi; County Supports a Population of 37,000 Historical: Matagorda is Texas's Third Oldest City and Second Established Port Upscale Amenities; Retail Component; Staged for Food and Beverage Service The Lodge is Offered at Replacement Cost at $1,250,000.00, or $125 PSF 3
PROPERTY OVERVIEW Property Overview: The Lodge at Karankawa Village is an 8-room, exterior corridor, independent lodge, and is a very unique investment property that has both high-end hotel and retail components. There is 10,000 SF total combined space in two buildings. 4,000 SF retail store also features kitchen and bar. The lodge features outdoor fireplace and unique lobby. Each of eight rooms with balcony is uniquely styled, equipped with the finest organic bedding, large bathrooms and original artworks. Gourmet coffees and flat screen televisions are found in each room and two outdoor living rooms with fireplaces are offered. Location Overview: Matagorda, Texas is at the end of State Highway 60 and beginning of Farm to Market Road 2031, which runs over the Intracoastal Waterway and south to the Gulf of Mexico. There are 23 miles of beach accessible by vehicle and 35 additional miles accessible only by boat. Located near the mouth of the Colorado River on the Upper Texas coast, Matagorda is primarily a tourist town with commercial and recreational fishing being the top industries. Besides, Matagorda is known as one of the best kayaking and kayak fishing destinations on the Texas coast due to miles of shallow marsh area only accessible by kayak. There are also miles of designated paddling trails in the area. Common Area Amenities Outdoor Parking Separate Retail Store with Kitchen and Bar Unique Lobby Outdoor Fireplace Guest Room Amenities Air Conditioning Refrigerator/Microwave Flat Screen Televisions Desk with Wooden Chair Wireless Internet Access # 4
PROPERTY SUMMARY THE OFFERING Property The Lodge at Karankawa Village Price $1,250,000 Property Address 22996 Highway 60, Matagorda, TX SITE DESCRIPTION Number of Rooms 8 Year Built/Renovated 2007 Ownership Type Fee Simple Lot Size 0.52 acre(s) PROPOSED FINANCING FIRST TRUST DEED Loan Amount $947,813 Loan Type Proposed New Interest Rate 5.75% Amortization 30 Years Loan Term 10 Years Loan to Value 76% Debt Coverage Ratio 1.32 SECOND TRUST DEED Loan Type All Cash 5
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THE LODGE AT KARANKAWA VILLAGE PROPERTY PHOTO Marcus & Millichap closes more transactions than any other brokerage firm. FOR MORE INFROMATION CALL: Skyler Cooper Vice President, National Hospitality Group Office: (713) 452-4275 Mobile: (540) 522-9115 Lisa Hankamer Senior Associate, National Hospitality Group Office: (713) 452-4247 Mobile: (713) 992-3343 127