Holiday Inn Express Socorro

Hospitality for Sale
Catylist Listing ID: 30282087
Property Subtypes: Hotel
Number of Units: 776 Units
Building Size (RSF): 55,321 SF
Gross Building Area: See Agent
Gross Land Area: 1.27 Acres
Sale Price: $7,000,000
Unit Price: $9,020.62 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 10.04%
Last Updated: 10/18/2018

Overview / Comments

Marcus & Millichap has been selected to exclusively market for sale the Holiday Inn Express Socorro Hotel, a 77 unit, limited service, interior corridor, three story upper mid-scale hotel property built in 2007 and conveniently situated along Interstate 25. Consistently earning high rankings among customer satisfaction, the Holiday Inn Express Socorro is currently ranked #1 on TripAdvisor out of 15 hotels.

This property presents an opportunity for an owner operator or third party management structure due to its strong revenue performance. With room sales consistently well above $2,000,000 this property demonstrates strong demand in Socorro and Southern New Mexico along Interstate 25 lo- cated one hour south of Albuquerque and two hours North of Las Cruces. Albuquerque currently has a population of over 560,000 residents and Las Cruces currently has over 100,000.

With spacious guest rooms, the Holiday Inn Express includes high speed wireless internet, cable,an indoor pool and hot tub, on-site fitness facility, daily housekeeping, safe deposit box and individually controlled climate control. Additional amenities on the property include a business center, meeting room, and a delicious complimentary breakfast.

Additional Details

Nearest MSA: Albuquerque
County: Socorro

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,708 5,745 5,745
Median Age: 29.91 31.46 31.46
Households: 1,518 2,322 2,322

Contact

Photograph of Listing Agent

Matthew Reeves

Marcus & Millichap CARNM CIE Member
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