Historic Camino Real Motel For Sale · 2018. 2. 20. · The famous Vernon’sSpeakeasy is next door...

Absolute Investment Realty | 105 Jefferson NE Albuquerque, NM 87108 | 505-346-6006 | [email protected]

SALE PRICE: $795,000

($65.95 / SF)

Property Type: Hospitality

Building Size: +/- 12,055 SF

Property Size: +/- 1.28 Acres

Rooms: 30

- Turnkey Motel Property

- Ideal Redevelopment Candidate

- Ample Parking

- Onsite Manager’s Unit

- Excellent Access

- Prime NW Location

- Large Pole Signage

- Surplus Land

Features:

Alfredo Barrenechea505-401-0135

[email protected]

Historic Camino Real Motel For Sale6851 4th St. NW Los Ranchos De Albuquerque, NM 87107

mailto:[email protected]?subject=Property Inquiry

mailto:[email protected]

Asset Overview

Absolute Investment Realty has been selected as the exclusive representative of

the owner of the historic Camino Real Motor Hotel located in Los Ranchos

(Albuquerque MSA), New Mexico. The property was built in in the 1940’s to

serve travelers on historic Route 66 and the Camino Real on their way to and

from Santa Fe.

Located in the village of Los Ranchos, on 4th street (Historic Route 66) which is in

the heart of picturesque the north valley of Albuquerque, NM, this property is

perfect for creative investors or an owner/user who wants to enjoy the benefits

of operating a historic motel. 4th street is currently undergoing a major

streetscape improvement, which will no doubt enhance the desirability of the

area. Though many would argue the property is irreplaceable, the property

which offers rich New Mexican pueblo architecture and old world charm, is

priced well below replacement cost. All this combines to provide a wonderful

opportunity for the buyer to purchase a value-add boutique motel with potential

to re-position the property in the future.

Property Summary

The information contained in this marketing package is believed to be reliable. While we donot doubt the accuracy, we have not verified it and make no guarantee, warranty orrepresentation about it. It is your responsibility to independently confirm its accuracy andcompleteness. Additionally, this package and the information contained herein is intendedonly for parties with a bonified interest in the lease or purchase of this property and shouldnot be distributed otherwise.




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Property Name: El Camino Motor Hotel

Property Address:6851 4th St. NW, Los Ranchos de Albuquerque, 87107

Property Description: Route 66 Era Moter Hotel

Purchase Price: $795,000 ($65.95 / SF)

Building Size: (+/-) 12,055

Property Size: (+/-) 1.2835 Acres (55,908 SF)

Number of Rooms: 30 + 3 bedroom caretaker apartment

Access: Excellent

Visibility: Excellent

Signage: Excellent

Highest & Best Use: Motel or Multi-Family

Trade Area Description: Semi-rural, metropolitan


Trade Area Map



SITE

N

Bernalillo County

Sheriff Dept.

Trade Area Demographics

Radius 1 Mile 3 Mile 5 Mile

Population (2017 Estimate) 5,805 54,796 211,916

Avg HH Income (2017) $74,392 $69,603 $70,291

Daytime Employees 4,597 70,060 206,896

Consumer Spending 66 M 563 M 2.2 B

Sandia Preparatory

School

Los Poblanos

Estates

Casa Rodena

Winery

Village of Los

Ranchos

Rio Grande

Community Farm

Los Poblanos

Ranch

Los Poblanos

Green Acre

RV Park

City of

Albuquerque

About Los Ranchos

The property is located in the North Valley of Albuquerque in the

Village of Los Ranchos. Its easy to enjoy a beautiful view of the

Sandia Mountains to the East and admire a desert sunset over

the Rio Grande river to the West. This rural lifestyle area provides

many activities such as submersing in a beautiful nature filled

setting, admiring art, wine tasting in local vineyards, and touring

the local area while spotting some llamas, goats and even

peacocks.

Los Ranchos is also a cultural hub for Albuquerque and a place

to witness New Mexican heritage with its beautiful art and

delicious food. It is home to many memorable cites including the

beautiful lavender farm of Los Poblanos and the El Camino Hotel.

The El Camino is located right in the middle of all the action right

off 4th street, making it easy to go for a bike ride along the Rio

Grande river, find a tasty meal in a local restaurant, explore one

of the many antique shops, or even visit one of the states largest

growers markets.

The Village of Los Ranchos offers many activities and ways to

explore the desert’s lovely scenery and become immersed in

New Mexican culture.


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Site Aerial



2 story owner

apartment

Excess LandGarage /

Storage

Boiler Room

Laundry Room2 full-turn

access points


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Site Close Up & Location Description

LOCATION DESCRIPTIONThe Property is located in the “North 4th” trade area of the village of Los Ranchos de Albuquerque. “Los Ranchos,” with a population of 6,024 (2010 Census) is a

village completely surrounded by the metropolitan city of Albuquerque, NM with a population of over 900,000. The village boasts a semi-rural setting along the RioGrande bosque (Spanish for forest) which makes it a favorite destination for wealthy retirees. 4th street, which is also Historic Route 66 and the Historic Camino Real

is a major corridor in the City of Albuquerque, and runs the entire length of the MSA. The property is surrounded by residential property and commercial servicesincluding high-end dining and local cuisine. The famous Vernon’s Speakeasy is next door and the El Camino dining room is located across the street. The locationand historic nature of the property make it ideal for a boutique motel, short term rental such as AirBnB or multi-family conversion.



SITE


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Property Details



The Route 66 era architecture of this asset stands the test of time. Withgenerous room sizes (+/-383 SF average size) and a majority of large suite stylerooms (+/-636 SF), this property is perfect for a model revival. The generouscaretaker apartment (+/-2,270 SF)could be remodeled for a restaurant orbrewery and features a large 2nd story patio. The property is heated by a centralboiler system and cooled by individual swamp coolers. The property has anabundance of parking, and a pool area that could potentially be re-used or re-purposed. The site features excellent access off 4th street and iconic Route 66signage.

Property Information Summary

Year Built: 1946 (estimated)

Heat: Radiant wall heat (Central Boiler)

Cooling: Swamp Coolers - 1 unit/room

Water/Sewer: City

Roof: Modified (Paper, Tar & Gravel) - New in 2013

Parking: (+/-) 50

On Site Laundry Room: Yes

Pool Has pool area, but not currently utilized

Garage/Storage Yes

Caretaker Apartment Yes (+/- 2,270 SF)

Access 2 full turn access points

Number of Rooms: 30 + 3 Bedroom Caretaker Apartment

Average Room Size: 306 SF


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Survey




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Well Maintained Property

Spacious Rooms

Historic Route 66 Pueblo Architecture

Ideal for a boutique hotel operator

This property can be operated as-is or updated to bring in more revenue

Suites and standard size rooms




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4th Street RevitalizationA major streetscape renovation along 4th street has been commencedconstruction. The improvements are designated for completion by the endof 2018 and will enhance the trade area surrounding the El Camino motel.The project is located north of Ortega Road, and is designed to beautify thehistoric area of 4th street and attract more businesses and private

investment to the area. It will be carried out in three phases, in an attemptto improve traffic and road quality. Protected and improved parking will beimplemented, increasing ease of access. Improvements will also includenew pedestrian and bicycle lanes. The median and the east and west sidesof the road will be redevelopment to improve traffic flow and streetscape.The end result will be a huge benefit to this property and is expected tobring more people and businesses to an already vibrant area.

Dan’s Boots and

Saddles

The Village

Shops At Los

Ranchos Sherriff

Dpt.

Fire

Station

Napa Arts

Parts

Phase 1-Median

Phase

Phase 2-Northbound

Work

Phase 3-Southbound

Work


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Route 66



Route 66 was first laid out in 1926. Back then it followed the Old Pecos Trail from Santa Rosa through Dilia, Romeroville, and Pecos to Santa Fe. From Santa Fe it went overLa Bajada Hill and down to Albuquerque. [1]

The historic U.S. Route 66 (US 66, Route 66) ran east–west across the central part of the state of New Mexico, along the path now taken by Interstate 40 (I-40). However,until 1937, it took a longer route via Los Lunas, Albuquerque, and Santa Fe, now roughly New Mexico State Road 6 (NM 6), I-25, and US 84. Large portions of the old roadparallel to I-40 have been designated NM 118, NM 122, NM 124, NM 333, three separate loops of I-40 Business, and state-maintained frontage roads. It is one of the roadson the Trails of the Ancients Byway, one of the designated New Mexico Scenic Byways. [2]

To further the preservation of the Mother Road and the many historic landmarks along the old sections of the highway, New Mexico established those original roads stillopen to traffic as a National Scenic Byway in 1994. Starting at the New Mexico/Texas State Line, the byway travels 300 miles through compelling, scenic, and dramaticstretches of the famed highway. Another major undertaking in New Mexico was the Route 66 Neon Sign Restoration project by the New Mexico Route 66 Association. TheAssociation led a tremendous effort along Route 66, restoring vintage neon signs. [1] The el Camino Motel has one of the most iconic examples of classic Route 66 neonsignage in the state of New Mexico.

SITE

[1] http://online.nmartmuseum.org/nmhistory/opening-the-west/route-66/history-route-66.html[2] https://en.wikipedia.org/wiki/U.S._Route_66_in_New_Mexico


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https://en.wikipedia.org/wiki/New_Mexico

https://en.wikipedia.org/wiki/Interstate_40_(New_Mexico)

https://en.wikipedia.org/wiki/Los_Lunas,_New_Mexico

https://en.wikipedia.org/wiki/Albuquerque,_New_Mexico

https://en.wikipedia.org/wiki/Santa_Fe,_New_Mexico

https://en.wikipedia.org/wiki/New_Mexico_State_Road_6

https://en.wikipedia.org/wiki/Interstate_25_in_New_Mexico

https://en.wikipedia.org/wiki/US_84_(NM)

https://en.wikipedia.org/wiki/Frontage_road

https://en.wikipedia.org/wiki/Trail_of_the_Ancients_Scenic_Byway_(New_Mexico)

https://en.wikipedia.org/wiki/New_Mexico_Scenic_Byways

http://online.nmartmuseum.org/nmhistory/opening-the-west/route-66/history-route-66.html

https://en.wikipedia.org/wiki/U.S._Route_66_in_New_Mexico


Demographics

Population – 1 Mile

Businesses – 1 Mile

Daytime Employees – 1 Mile




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Miners Colfax

Medical Center



Route 66 Era Post Card


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Albuquerque is located in the Rio Grande Valley, and is shadowed by the majesticSandia Mountains. With a population of approximately 900,000 people, the metroarea has a projected growth rate of 7.2% over the next 2.5 years. Rio Rancho, asuburb of Albuquerque with a population of 89,900, has experienced explosivegrowth of over 65% from 2000–2010, is the fastest growing city in New Mexico,and one of the fastest growing cities in the United States.

Albuquerque is home to the University of New Mexico (UNM) and the Universityof New Mexico Hospital (UNMH) which together employ 20,210 people. KirtlandAir Force Base and Sandia National employ a high-tech, educated work force ofabout 23,000 people. Lying at the center of the New Mexico Technology Corridor,Albuquerque is ranked as one of Forbes Best Cities for Business, for itsconcentration of high-tech private companies and government institutions alongthe Rio Grande river valley. Some key technology based employers include SandiaNational Laboratories, Intel, Raytheon, Northrup Grumman, and Titan Aerospace(recently purchased by Google). Albuquerque is a regional center fortransportation, health care, government agencies, nuclear research, and tourism.

Albuquerque is host to the world famous Albuquerque International Balloon Fiestawhich draws over 1,000,000 visitors per year. Less than one hour away is thehistoric City of Santa Fe, which has year round outdoor activities and routinelyreceives awards for quality of life and low cost of living.

Albuquerque, NM MSA



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Absolute Investment Realty Who We AreAbsolute Investment Realty is an investment oriented commercialreal estate brokerage firm focused on helping our clients meettheir commercial real estate investment goals. Our clients rangefrom private local investors to multi-national REITs. We haveclosed transactions throughout the United States and have clientsfrom around the world. No job is too small or too large for ourdedicated team of professionals. We are experts on currentmarket conditions and can advise our clients on the best pricingand buying or selling strategies. We have industry wideconnections and make it a policy to work hand in hand with ourpeers, principals and institutions to get the deal done. We aresecond to none in our ability to identify, sell or lease investmentquality real estate.

Our MissionAbsolute Investment Realty’s mission is to help our clientsachieve their commercial real estate goals.

Our firm excels because we execute with attention to detail,exceptional financial analysis capabilities, second to none marketknowledge, and the highest level of customer service.

We start by understanding your needs and work closely with youdevelop a customized acquisition, disposition or developmentplan designed to help you reach your goals as expeditiously aspossible.

Awarded to the top 5 brokerage firms in NM, AbsoluteInvestment Realty has achieved the coveted Costar Power BrokerAward every year we’ve been in business.



Alfredo Barrenechea

Qualifying Broker

Alfredo specializes in the acquisition and disposition of investment real estateand has experience in closing large industrial, office, and hospitalitytransactions. With over 13 years of experience in the commercial real estateindustry as a developer, landlord and broker Alfredo has worked with nation’stop tenants, investors and real estate investment companies. Alfredo has apassion for helping his clients meet their real estate investing goals and excelsat closing complicated transactions. Alfredo has a an MS in ElectricalEngineering and a BS in Computer Engineering from the University of NewMexico and is a member of CARNM and ICSC.

Some of Alfredo’s Recent Transactions


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Disclaimer & ConfidentialityThis is a confidential marketing package indented solely for the reader’suse in determining its desire to express further interest in the lease orpurchase of this property. Additionally, this package and the informationcontained herein is not for public distribution and is intended only forparties with a bonified interest in the lease or purchase of this propertyand should not be distributed otherwise.

The information contained in this marketing package is believed to bereliable. While the broker does not doubt the accuracy, it has notverified it and the broker and property owner make no guarantee,warranty or representation about it. It is the reader’s responsibility toindependently confirm its accuracy and completeness. All financialinformation contained herein is provided as a general reference andshould not be treated as fact, but should be independently verified bythe reader of this material.

By receipt of this marketing package, the reader agrees to keep thispackage and all material contained herein strictly confidential andagrees to destroy or return this package to Absolute Investment Realtyupon the readers determination it has no interest in leasing orpurchasing the property. Additionally, the information contained hereinis not be utilized to the detriment of the property owner, AbsoluteInvestment Realty or its associated brokers, any tenant(s) of theproperty, or any other party affiliated with the property.

The reader will not contact or approach the tenant(s) or operator(s) ofthe property, if any, without the express written permission of theproperty owner.

The property owner has absolutely no obligation to sell or lease theproperty to any person or entity regardless of proposed pricing orterms. Additionally, the property owner reserves the right, in it sole andabsolute discretion, to reject any or all offers or expressions of interestto purchase or lease the property.




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Historic Camino Real Motel For Sale · 2018. 2. 20. · The famous Vernon’sSpeakeasy is next door...

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