Fairfield Inn & Suites Roswell
Hospitality
for Sale
| Catylist Listing ID: |
30487249 |
| Property Subtypes: |
Hotel
|
| Number of Units: |
67 Units |
| Building Size (RSF): |
37,008 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
1.59 Acres
|
| Sale Price: |
$8,800,000 |
| Unit Price: |
$131,343.28 Per Unit |
| Property Use Type: |
Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
10.56% |
| Last Updated: |
7/9/2020 |
Overview / Comments
Marcus & Millichap presents for sale the TownePlace Suites and the Fairfield Inn & Suites in Roswell, New Mexico. This 138-room portfolio offers a premium Marriott-branded opportunity in a diverse market. Both properties are located along the main thoroughfare going through the city of Roswell. These properties are the leaders in their market of southeastern New Mexico and have consistently high occupancy levels and RevPAR growth. The generators for these hotels include local medical centers, tourism, Government, Military, and oil business.
The TownePlace Suites has 71 rooms on three interior corridors. The property is located directly across the street from the Lovelace Regional Hospital and one mile away from the Eastern New Mexico Medical Center. The property is an extended stay hotel that offers many amenities to suited to longer-term guests, including on-site laundry and a fully equipped kitchen. Kitchens include a fridge, microwave, stove, utensils, serving dishes, and pots and pans for guest use. Also included in the one- and two-bedroom units is a full dining room set with table and chairs.
The Fairfield Inn & Suites has 67 rooms on three interior corridors. It recently underwent several renovations, including stucco replacement on the exterior and a new roof, both in 2015. The interior has had some renovations as well, having completed the Modern Calm Property Improvement Plan issued by Marriott International. The updates include new furniture in the rooms, new 50 flat screen TVs, among other projects. No change of owner PIP is expected.
|
Additional Details
| Nearest MSA: |
Roswell |
| County: |
Chaves |
| Tax ID/APN: |
4136061027085000000 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
7,640 |
40,379 |
50,720 |
| Median Age: |
33.37 |
35.92 |
35.93 |
| Households: |
2,935 |
15,271 |
18,993 |
|
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