Leisure Lodge

Hospitality for Sale
Catylist Listing ID: 30515872
Property Subtypes: Motel
Number of Units: 32 Units
Building Size (RSF): 8,598 SF
Gross Building Area: See Agent
Gross Land Area: 1.52 - 3.17 Acres
Sale Price: $798,000 - 946,000
Unit Price: $24,937.50 Per Unit
Property Use Type: Vacant/Owner-User, Business
Building Name: Leisure Lodge
Name of Establishment: Leisure Lodge
Sale Terms: Cash to Seller
Cap Rate: 26.6%
Last Updated: 3/31/2020

Overview / Comments

eXp Realty LLC is proud to offer the 32 Room Leisure Lodge Motel located conveniently off the Historic Route 66, with access to Interstate 40. This renovated vintage motel is visible to travelers heading both north and south on Route 66 and is a three-minute drive to the New Mexico Mining Museum and the Route 66 Neon Drive-Thru Sign. Less than two miles from Northwest New Mexico Visitor Center and entrance to the El Malpais National Monument. Grants is expecting 35.1% job growth over the next 9 years.
Features: Sean Penn filmed cult classic 21 Grams here!
Vintage tile and vanities
High Speed Wifi equally distributed
Direct TV equally distributed to all rooms
New water heater and softener
Plumbing re-done
Semi-Truck Parking
Heat pump heating and air conditioning
New paint and carpet.
New block wall to south
Secure foundation
One-bedroom manager’s unit
Additional 1.65 Acres of land to North
Call Coralee at 505.639.1266 to see it.

Attachments & Media

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $3,918 (Annual)
Potential Rental Income $287,503 (Annual)
Gross Operating Income $287,503 (Annual)
Net Operating Income $222,385 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Grants
County: Cibola
Taxing Authority: Cibola County
Tax ID/APN: R15157
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Located Between: I-40 and Main Street
Largest Nearby Street: Santa Fe or Route 66
Feet of Frontage: 200
Highway Access: I-40 via Santa Fe Avenue/Old Route 66
Nearby Attractions: This renovated vintage motel is visible to travelers heading both north and south on Route 66 and is a three-minute drive to the New Mexico Mining Museum and the Route 66 Neon Drive-Thru Sign. Less than two miles from Northwest New Mexico Visitor Center and entrance to the El Malpais National Monument, the motel is only a fifteen-minute walk from Downtown Grants. The town of Grants, most known for its historic pueblos, art and culture, offers a wide variety of outdoor recreations, restaurants, motels, and much more! The region is surrounded by beautiful scenic vistas of mountains and mesas, historical attractions, and mustsee state parks! This is a high traffic area for outdoor recreational travelers and a great place to do business.
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Excellent
Year Built: 1960
Year Renovated: 2019
Roof Type: Flat
Construction/Siding: Block
Average Occupancy Rate: 547
Parking Type: Surface
Parking Description: 22 spaces for cars, over 2 acres for semi-trucks available.
Heat Type: Electricity
Heat Source: Wall Units
Air Conditioning: Package Unit
Interior Description: Each room is about 252 SF with vintage tile shower. 8 units have bathtub and are all downstairs. Rooms have a circa 1960 vanity as well as a closet.
Zoning Description: Commercial zoning
Part of Planned Development?: Yes
Lot Frontage: 200
Lot Depth: 210
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,401 9,094 11,358
Median Age: 33.07 35.13 35.15
Households: 1,301 3,293 4,146

Contact

Photograph of Listing Agent

Coralee Quintana, MBA

EXP Realty, LLC
CARNM CIE Member
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