3695 Cerrillos Rd - Hospitality FOR SALE


Santa Fe, NM 87507- Southwest Santa Fe
$6,500,000 USD
253-486-3467
3695 Cerrillos Rd, Santa Fe, NM for Sale
$6,500,000 USD
Hospitality - FOR SALE
1/4
null | 9% Cap Rate

3695 Cerrillos Rd
Santa Fe, NM 87507
Southwest Santa Fe


HIGHLIGHTS

  • RevPAR and occupancy ~25% below compset — significant value-add upside opportunity
  • Converted from GreenTree Inn in 2023 with new paint, furniture, and guestroom upgrades
  • Located just 10 minutes from Historic Downtown Santa Fe and top cultural attractions
  • Proximity to LANL — a $5B annual economic engine driving government lodging demand
  • Diverse demand from tourism, government, cultural events, and year-round visitation
  • Located along Cerrillos Rd, Santa Fe's #1 retail corridor with ±51,100 VPD

OVERVIEW

Matthews Real Estate is pleased to exclusively represent the seller in the disposition of the Quality Inn Santa Fe, an underperforming hotel offering a strong value-add opportunity in one of the Southwest’s most established cultural and tourism markets. The property currently trails its competitive set, with RevPAR and occupancy roughly 25% below nearby Baymont, Days Inn, Ramada, and Econo Lodge, creating clear upside for a new owner to reposition the asset toward market norms. Santa Fe’s demand base is broad and resilient, driven by Historic Downtown, Canyon Road, the Georgia O’Keeffe Museum, Meow Wolf, and major annual events such as Indian Market, Spanish Market, Wine & Chile Fiesta, and the International Folk Art Market. Ski Santa Fe and the surrounding Sangre de Cristo Mountains further support year-round visitation. Converted from a GreenTree Inn in 2023, the hotel received substantial renovations including new paint, furniture, and guestroom upgrades, reducing near-term capital needs. Located just 10 minutes from Historic Downtown, the property offers convenient access to Santa Fe’s top attractions, restaurants, galleries, and museums. Additional demand stems from Los Alamos National Laboratory, a major economic engine for Northern New Mexico, along with state government offices and regional institutions. Santa Fe’s balanced mix of leisure, cultural, government, and institutional demand supports consistent occupancy and ADR throughout the year, reinforcing the long-term stability and upside of the asset. Broker Of Record Brian Brockman Bang Realty-New Mexico, Inc. 20241, 9568 (NM) 2939 Vernon Place, Cincinnati, OH 45219 (866) 889-0550

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$200 USD /SF

# OF ROOMS

116

PRICE/ROOM

$56,034 {currency}

CAP RATE

9%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Quality Inn & Suites

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1985

PARKING SPACES

138

LAND DETAILS

LAND ACRES

2.75 AC

LAND SF

119,790 SF

ZONING

C-2

APN/PARCEL ID

018500575

ASK ABOUT THIS PROPERTY

Hunter DavisMatthews Real Estate Investment ServicesMore Info
253-486-3467

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Hunter DavisMatthews Real Estate Investment ServicesMore Info
253-486-3467

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