TownePlace Suites Roswell

Hospitality for Sale
Catylist Listing ID: 30486853
Property Subtypes: Hotel
Number of Units: 71 Units
Building Size (RSF): 37,965 SF
Gross Building Area: See Agent
Gross Land Area: 1.70 Acres
Sale Price: $12,400,000
Unit Price: $174,647.89 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 7.26%
Last Updated: 9/16/2019

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 TV’s, among other
projects. No change of owner PIP is expected.

Additional Details

Nearest MSA: Roswell
County: Chaves
Tax ID/APN: 4136060079279000000

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,019 34,758 50,720
Median Age: 37.78 35.79 35.93
Households: 2,907 13,290 18,993

Contact

Photograph of Listing Agent

Matthew Reeves

Marcus & Millichap CARNM CIE Member
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