Rimrock Lodge Extended Stay Plus

Hospitality for Sale
Catylist Listing ID: 30355468
Property Subtypes: Extended Stay
Number of Units: 96 Units
Building Size (RSF): 43,560 SF
Gross Building Area: See Agent
Gross Land Area: 3.56 SF
Sale Price: $1,650,000
Unit Price: $17,187.50 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 4.32%
Last Updated: 12/10/2018

Overview / Comments

Property is poised for increased revenues from improved management. Ideal for local hotelier, owner/operator. The Rimrock Lodge Extended Stay is an 96 unit, one one-story building and one two-story building, exterior corridor, extended stay property with microwave and refrigerator-equipped kitchenettes built in 1960. This property is conveniently located along highway 64 to attract highway, leisure, and destination travelers between Colorado, New Mexico, Arizona, and Utah. Popular attractions include Roswell, White Sands, and Albuquerque. This property is ideal for an owner operator or local operator to improve efficiencies through boosting revenue and decreasing expenses. On-site ballroom and two bars that are currently closed, offering huge upside potential as there are few other ballrooms in town.

Additional Details

Nearest MSA: Farmington
County: San Juan

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,346 29,115 50,832
Median Age: 32.34 33.42 33.64
Households: 1,198 10,841 18,077

Contact

Photograph of Listing Agent

Matthew Reeves

Marcus & Millichap CARNM CIE Member
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