Historic Texas Hotel Sells in Two WeeksBy Angela Smith, Communications Manager
October 29, 2021
After nine years on the market for sale by owner, United Country agent lists and sells hotel in two weeks.
United Country Real Estate agent Doug Allen listed and sold a historic downtown hotel in Brownwood, Texas, in less than two weeks. The hotel features 12 stories, 93,000 square feet and 90 guest rooms. It opened in 1930 and was used as a hotel until 1969 before becoming a dorm for men for Howard Payne University. It has been vacant since the 1980’s.
The seller had originally tried to sell the hotel on their own and were unsuccessful for nine years. Allen said he worked with the seller on other transactions and finally convinced her to allow him to list the property.
“I think what brought her to us in our reputation and visibility,” said Allen. “From day one, I’ve been trying to list the hotel. She wanted to try and sell it on her own. Actually, the man/group that bought the property had been in conversation with her for several years. So, when the seller finally listed it with me, this buyer got serious. It’s one of the many reason to have a Realtor. That is the main reason I got in under contract so quickly.”
The seller originally asked $500,000 for the property, but with Allen’s help and marketing, the deal closed for $650,000 and had nine other credible offers. The buyer plans to revitalize the building and preserve its history.
If you’re trying to sell your commercial (or historic) property, contact one of our knowledgeable agents to help you get the most value for your property. Visit www.UCCommercialProperties.com for more information.