Albuquerque Midtown Inn & Suites

Hospitality for Sale
Catylist Listing ID: 30737537
Property Subtypes: Hotel
Number of Units: 199 Units
Building Size (RSF): 63,776 SF
Gross Building Area: See Agent
Gross Land Area: 4.27 Acres
Sale Price: $2,750,000
Unit Price: $13,819.10 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 5.87%
Last Updated: 6/14/2021

Overview / Comments

- Priced at $13k Per Key
- Several Renovations Completed in the Last Few Years
- 1 Mile to The University of New Mexico
- 2 Miles to UNM Hospital and Lovelace Medical Center
- 4 Miles to Albuquerque International Sunport
- Nearby Attractions Include NM Steam Locomotive, Explora Science Center & ABQ BioPark

Marcus & Millichap has been chosen to exclusively market for sale the Albuquerque Midtown Inn & Suites, a two-story limited service hotel located in Albuquerque's Midtown neighborhood. The hotel consists of 199 rooms with close proximity to Interstates 40 and 25. Amenities include a heated outdoor pool, business center, guest laundry facilities and complimentary shuttle service. Also included in the offering is a conference center that can be converted to a restaurant.

The Albuquerque Midtown Inn & Suites is located in the Albuquerque Metropolitan Statistical Area (MSA). The Albuquerque metro stretches 5,951 square miles across the northern edges of the Chihuahan Desert and the Sandia and Manzano mountains in the Albuquerque basin. The property sits 3 miles from Cliffs Amusement Park and the New Mexico Museum of Natural History & Science. Most recently, the city announced the addition of Netflix expansion as well as the addition of aerospace firm Orion, creating 4,000 new jobs in the market.

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: North I-25
Tax ID/APN: 101605902923132010

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,148 127,753 333,136
Median Age: 32.49 36.77 37.39
Households: 4,945 58,311 141,382

Contact

Photograph of Listing Agent

Matthew Reeves

Marcus & Millichap CARNM CIE Member
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