Pioneer Motel

Hospitality for Sale
Also listed as Multi-Family
Catylist Listing ID: 30036295
Property Subtypes: Motel
Number of Units: 20 Units
Building Size (RSF): 9,563 SF
Gross Building Area: See Agent
Gross Land Area: 0.63 SF
Sale Price: $415,900
Unit Price: $20,795 Per Unit
Property Use Type: Business
Building Name: Pioneer Motel
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/3/2017

Overview / Comments

Boutique opportunity in this Vintage Route 66 Motel. The Pioneer Motel has preserved many of the original 1949 finishes in this sweet 20 room property with 6 garages and 12 full kitchens! 12 units rent as two bedrooms for $850 in monthly income. 86% occupied with 6 garages currently used for storage. Ask about SBA financing on this property! Great opportunity to re-zone as a 20 Unit apartment complex with a unit mix of 8 studios and 12 one bedrooms.

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Southeast
Tax ID/APN: ABQ157238
Zoning: C-2 - Community Commercial Zone
Retail Clientele: General, Family, Traveler, Casino, Other
Property Located Between: Louisiana and Pennsylvania
Property Visibility: Excellent
Largest Nearby Street: Central Avenue
Feet of Frontage: 125
Highway Access: I-40 via Louisiana Blvd.
Airports: Albuquerque International Sunport
Site Description: Three buildings shaped in a "U" with six garages and 27 parking spaces in the middle.
Area Description: Along Route 66 on east Central Avenue in the quickly redeveloping trade area near the Downs Casino and Racetrack.
Nearby Attractions: New City of Albuquerque library and senior center, Downs Casino and Racetrack, Expo New Mexico, Kirtland Air Force Base, Sandia Labs, billion dollar retail trade area at Eubank and Central/I-40, close to Nobhill, UNM, and Uptown.
Total Number of Buildings: 3
Number of Stories: 1
Property Condition: Fair
Year Built: 1949
Roof Type: Flat
Construction/Siding: Stucco
Average Occupancy Rate: 86
Total Parking Spaces: 27
Parking Type: Surface
Sprinklers: None
Heat Type: Natural Gas
Air Conditioning: Evaporative Cooler
Internet Access: Cable
Zoning Description: C-2 Commercial
Lot Frontage: 125
Lot Depth: 220
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 23,560 132,624 280,457
Median Age: 31.7 37.31 37.42
Households: 9,127 58,468 123,334


Photograph of Listing Agent

Coralee Quintana, MBA

Absolute Investment Realty CARNM CIE Member
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