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Historic Hotel And Event Venue East Texas For Sale

Texas, US
Asking Price:
$1,850,000 Furniture / Fixtures included
Sales Revenue:
$100K - $250K
Cash Flow:
$50K - $100K

INVESTMENT HIGHLIGHTS

  • Opportunity Zone -- potential capital gains deferral + exclusion for qualifying investors; consult a tax advisor
  • Federal + Texas Historic Tax Credits -- up to 45% of qualified rehab spend recoverable; consult a preservation tax advisor
  • SBA 504 compatible -- asset class may support as low as $277K down at 15% equity; buyers should confirm with their lender
  • Avg NOI $74,817 (2024-2025) -- 2026 revenue tracking 10%+ above 2025 pace
  • Pro forma Year 3 NOI: $155,000+ -- through STR activation and ballroom programming
  • STR upside: $3,900-$8,100/month -- 4 rooms currently leased at $225/room; STR redeployment at market rates
  • Below-market ground floor lease -- $1,200/month vs. ~$2,000 market; +$9,600/yr at 2027 renewal
  • 125-person ballroom underactivated -- $3,500-$8,000/event; minimal current marketing
  • $92.50/sqft -- below replacement cost; ~20,000 SF operating historic asset
  • Amtrak-adjacent -- only historic hotel in Texas steps from a working Amtrak station
  • Three buyer models -- pure investor, owner-operator, or live/work lifestyle buyer

FINANCIALS
Year Gross Revenue Net Operating Income
2025 $102,640 $71,913
2024 $107,132 $77,720
Avg NOI 2024-2025 -- $74,817
Jun 2026 YTD $56,536 $26,609*

*2026 YTD NOI includes $8,919 one-time capital improvement expense and full-year property taxes paid in H1. Adjusted NOI tracking ~$71,000 annualized. 2026 gross revenue pace (~$113K annualized) is running 10%+ above 2025.
Pro Forma Upside
Scenario Gross Revenue NOI
Year 1 - Stabilized $135,000 $93,000
Year 2 - Optimized $165,000 $117,000
Year 3 - Fully Activated $210,000 $155,000

At $155K NOI and a 6.5%-8% cap rate, the property supports asking price. Upside is real and documented -- not speculative.

PROPERTY HIGHLIGHTS

  • ~20,000 SF | 3-story | 13 guest rooms | 125-person grand ballroom | Street-level retail
  • Built 1892 | Fully restored | Texas Historical Commission Landmark
  • 1st floor (~9,000 SF): 8 commercial units -- fully leased, stabilized income on day one
  • 2nd floor (~6,100 SF): 4 rooms on residential lease at $900/mo total ($225/room) -- documented income. STR redeployment at $80-$150/night yields $1,200-$2,250+/room/month at 50% occupancy, a $3,900-$8,100/month gap. Also includes 1,250 SF opportunity space (currently storage) + 2,156 SF grand ballroom with the oldest floating spring dance floor in Texas
  • 3rd floor (~4,200 SF): 13-room short-term rental operation (7 baths + work room)
  • Diversified revenue: long-term commercial leases + short-term rentals + hotel operations + event bookings
  • Federally designated Opportunity Zone -- potential capital gains deferral and exclusion for qualifying investors; consult a tax advisor
  • Directly adjacent to Amtrak Mineola Station with private parking lot -- rare transit-oriented hospitality asset in East Texas
  • Walking distance to galleries, historic depot, Iron Horse Festival, Fiesta de Mayo, NatureFest

MARKET POSITION
Mineola sits at the intersection of the Dallas-Tyler-Longview corridor, drawing visitors from a combined metro population of 8M+. The property anchors Mineola's emerging arts and cultural district and benefits from consistent tourism traffic to the Mineola Nature Preserve, Lake Fork (one of Texas' top bass fishing destinations), and the broader East Texas leisure market.
Independent boutique hotels are outperforming branded properties nationally -- JLL data shows a 55% liquidity increase for independent assets post-pandemic vs. 3% for branded. It franchise fees, no PIP exposure, and full operational flexibility.

Property Information

Real Estate:

Real Property Included

Living Accommodation:

There are some existing spaces on the premises that owner could live/operate form- owner could also build to suit in the unfinished space on 2nd floor or could live offsite, or convert 2nd building to living quarters and not detract from revenue generating spaces

Location:

Downtown Mineola, Texas. 90 minutes from Dallas, 60 minutes from Tyler. Anchors Mineola's historic arts and cultural district.

Premises Details:

The hotel has stood at the center of downtown Mineola since 1892. Three stories, ~20,000 square feet, directly across from the only Amtrak station between Dallas and Shreveport -- it is the kind of asset that does not come available twice. Fully restored, operating day one, and priced at $92.50/sqft below replacement cost.
This is not a repositioning story. It is already producing -- avg NOI of $74,817 across 2024-2025, with 2026 gross revenue tracking 10%+ above last year. What makes it a value-add play is what the current operator hasn't done: the 125-person ballroom runs on minimal marketing, four second-floor rooms are leased at $225/room when STR market rates would yield $1,200-$2,250+ per room at 50% occupancy, and the ground floor restaurant/gallery space is $800/month below market ahead of a 2027 renewal. None of these require capital. They require a more active operator.
The property sits in a federally designated Opportunity Zone, may be compatible with SBA 504 financing, and carries Texas Historical Commission Landmark status -- a potential pathway toward the 20% Federal Historic Tax Credit on qualified rehabilitation spend. The tax stack alone materially changes the effective acquisition cost for the right buyer structure. Buyers should consult their tax and legal advisors to determine eligibility and structure.
Three distinct buyer models work here: a pure investor deploying all rooms as STR and activating the ballroom as a primary event venue; an owner-operator who runs the hotel and lives on-site while commercial ground floor leases offset carrying costs; or a lifestyle buyer acquiring 20,000 SF of irreplaceable Texas landmark real estate at a basis unavailable anywhere else in the state. Pro forma Year 3 NOI: $155,000+. Full financials available upon request.

Size in square feet:
20,000

Business Operation

Expansion Potential:

GROWTH LEVERS (IMMEDIATE)
1. STR conversion of 2nd-floor rooms -- 4 rooms currently leased at $225/room/month; STR redeployment at market rates adds $3,900-$8,100/month before touching 3rd-floor inventory
2. Ballroom event activation -- 125-person capacity; comparable East Texas historic venues book weddings and private events at $3,500-$8,000+ per event; peak season (spring/fall) supports 2-3 weekend bookings/month with active marketing
3. Ground floor lease normalization -- restaurant/gallery space currently at $1,200/month vs. ~$2,000 market rate; lease renewal (anticipated 2027) adds ~$9,600/year to baseline NOI with zero operational changes
4. Full 3rd-floor room activation -- 13 guest rooms with partial current operation; full STR/hotel deployment drives core revenue growth
5. 2nd-floor opportunity space conversion -- 1,250 SF currently storage; potential for additional guest rooms or flex office/retail

Competition / Market:

No comparable boutique hotel or event venue exists in Mineola or the immediate surrounding area. It operates as the only full-service historic inn and event venue in Wood County, drawing guests from the Dallas–Tyler–Longview corridor. Nearest comparable boutique hospitality is 45+ miles away.

Reasons for selling:

Seller is ready to pass the torch on a fully operational landmark - the hard work is done- needs buyer with vision to take it to next level

Trading hours:

Thursday - Saturday, 4-11

Employees:
3
Years established:
134

Other Information

Support & training:

Negotiable - depends on what's needed

Furniture / Fixtures value:
$100,000 - included in the asking price
Home based:
This business can be run from home