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6229 Richmond Avenue

Seth Equities Represents Seller In Sale Of 72-Key Best Western Galleria Inn & Suites In Houston
SOLDHotel

Seth Equities Represents Seller In Sale Of 72-Key Best Western Galleria Inn & Suites In Houston

6229 Richmond Avenue

Building Size

41,540 SF

Asset Type

Hotel

Closing

Jul 28, 2026

AI

The asset involved in the transaction is a hotel located at 6229 Richmond Avenue in Houston, known as the Best Western Galleria Inn & Suites. It features 72 keys and encompasses a square footage of 41,540. The property is situated in Houston’s Galleria/Uptown submarket.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: Not disclosed
  • Address: 6229 Richmond Avenue
  • Market: Houston
  • Seller's Representative: Rorik Seth - Seth Equities
  • Seller's Attorney: Kishan Patel - KDP Law PLLC
  • Number of Executed Confidentiality Agreements: 140
  • Number of Offers: Seven
  • Seller Financing: Available

Seth Equities successfully represented the seller in this transaction, implementing a targeted marketing campaign that attracted significant buyer interest. Their involvement included maintaining active participation from the initial marketing stage through to the closing of the deal. The professionalism and responsiveness of Kishan Patel of KDP Law were instrumental in facilitating a smooth transaction process.

Players

Rorik Seth

Seth Equities

Broker

$3.4M

vol

10 deals

Broker

Houston Hotel Market Snapshot

Boundary boundary · Hotel · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93