Dual Hotel Property For Sale

Hospitality for Sale
Catylist Listing ID: 30552534
Property Subtypes: Hotel
Number of Units: 450 Units
Building Size (RSF): See Agent
Gross Building Area: See Agent
Gross Land Area: 12 Acres
Sale Price: See Agent
In Opportunity Zone? Yes
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/29/2020

Overview / Comments

CBRE, Inc is pleased to present this opportunity to acquire a 450 room, 12+/- acre property housing two hotels with full amenities. The property is ideally located, with unmatched visibility, at the intersection of Interstate 25 and Interstate 40, in Albuquerque, NM. The property is located 6 miles from the Albuquerque International Airport, 2 miles from Downtown and 1 mile from the University of New Mexico. This property IS located within a Qualified Opportunity Zone.

Opportunity Overview:

- 450 occupancy-ready rooms in two facilities

- 261 guest rooms in the Crown Plaza

- 189 guest rooms in the Fairfield Inn

- 26,000+/- SF of meeting and event space

- Multiple food and beverage facilities on-site

- 12+/- acre site provides additional land for future development

- Indoor and outdoor recreation and exercise facilities

- Both hotels can be delivered unencumbered by existing franchises

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: North I-25
Tax ID/APN: 101505941621140705
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention
Property Located Between: Interstate 40 and Interstate 25
Property Visibility: Excellent
Largest Nearby Street: Interstate 40
Feet of Frontage: 1,000
Traffic/Vehicle Count: 200,600
Highway Access: Interstate 25 and Interstate 40
Airports: Albuquerque International Airport
Area Description: The property is centrally located at the intersection of two major north-south and east-west Interstates in Albuquerque. It's location provides easy access to anywhere in the city. It is just six miles from the Albuquerque International Airport, two miles to Downtown and one mile from the University of New Mexico campus. The property also offers easy access to the region via Interstates 25 and 40. The area surrounding the site features multiple amenities including a variety of dining, shopping and entertainment options. The Uptown area is just 3 miles from the site which is home to a regional mall, open air lifestyle shopping center and several mixed-use redevelopment projects. A variety of entertainment options are clustered 2 miles to the north of the site, including Urban Air adventure Park, Main Event, Century Rio and Top Golf (opening summer 2020).
Roof Type: Other
Water Recreation: Indoor Pool, Outdoor Pool, Hot Tub, Sauna
Total Parking Spaces: 600
Parking Type: Surface
Passenger Elevators: 5
Freight Elevators: 2
Lot Frontage: 740
Lot Depth: 1000
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: Easements for billboard sign and cell tower are not included in the offering

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,854 126,639 333,225
Median Age: 33.4 36.65 37.26
Households: 4,811 57,807 141,117

Contact

Photograph of Listing Agent

Matthew Butkus

CBRE CARNM CIE Member
Photograph of Listing Agent

Trevor Hatchell

CBRE CARNM CIE Member
Photograph of Listing Agent

Michael Schiffer

CBRE CARNM CIE Member
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