1501 E Santa Fe Ave - Hospitality FOR SALE


Grants, NM 87020
$2,690,000 USD
818-851-3304
1501 E Santa Fe Ave, Grants, NM for Sale
$2,690,000 USD
Hospitality - FOR SALE
1/5
null | Request Cap Rate

1501 E Santa Fe Ave
Grants, NM 87020


HIGHLIGHTS

  • 127 Unit Closed Hotel Ready for Renovation and Rebranding
  • Constructed of Concrete Block Walls and Concrete Slab Floors and Roof
  • Located in a Thriving Hotel Market off I-40 Midway Between Albuquerque and Gallup, NM
  • Wyndham Garden Inn and Choice Clarion Interest and PIPs are Available
  • Single Two-Story Building with an Attractive Central Atrium including a Pool, Hot Tub, and Cafe

OVERVIEW

This closed 127-unit hotel in Grants, NM offers a repositioning opportunity in a primary hotel market well-situated on Interstate 40 with excellent accessibility to and from the freeway, and ideally situated between the busy city of Gallup and the metropolitan center of Albuquerque. It is also located just a 10-minute drive from Grants-Milan Municipal Airport, making this asset a well-positioned hotel for traveler demand. Despite being closed, it presents a unique opportunity to capitalize on the local market. Preliminary Property Improvement Plans (PIPs) are available from both Wyndham Garden Inn and Choice Clarion, offering clear pathways for a new owner to re-brand and revitalize the asset into a well-performing hotel. This two-story, single-building property features existing amenities such as a restaurant, bar, cafe and large central atrium with an indoor pool and hot-tub, and approximately 6,100 square feet of flexible meeting space, enabling diverse operational setups.

FOR SALE DETAILS

PRICE

$2,690,000 USD

PRICE/SF

$15 USD /SF

# OF ROOMS

127

PRICE/ROOM

$21,181 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Former Red Lion Hotel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1968

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.15 AC

LAND SF

224,334 SF

ZONING

C2

APN/PARCEL ID

2054060291487

ASK ABOUT THIS PROPERTY

Steve PostAmber Hotel CompanyMore Info
818-851-3304

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Steve PostAmber Hotel CompanyMore Info
818-851-3304

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.