Leisure Lodge Motel - LoopNet · 2019-10-25 · New water heater and softener Plumbing re-done...
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One Sun Plaza NE Suite 650, Albuquerque, NM 87109 The information contained herein is believed to be reliable but not guaranteed. It is the responsibility of any prospective purchaser to independently confirm its accuracy and verify the subject offering as suitable for the intended use. Neither eXp Realty LLC, it’s agents or brokers, assume responsibility for typographical errors, misprints or misinformation. Leisure Lodge Motel 1204 Santa Fe Avenue Grants, New Mexico 87020 Presented By: Coralee Quintana, MA, MBA 505.639.1266 [email protected]
Transcript of Leisure Lodge Motel - LoopNet · 2019-10-25 · New water heater and softener Plumbing re-done...
One Sun Plaza NE Suite 650, Albuquerque, NM 87109
The information contained herein is believed to be reliable but not guaranteed. It is theresponsibility of any prospective purchaser to independently confirm its accuracy and verify thesubject offering as suitable for the intended use. Neither eXp Realty LLC, it’s agents or brokers,assume responsibility for typographical errors, misprints or misinformation.
Leisure Lodge Motel 1204 Santa Fe Avenue
Grants, New Mexico 87020
Presented By: Coralee Quintana, MA, MBA
505.639.1266
Leisure Lodge MotelPrice: $798,400
Rooms: 32
Price per Door: $24,950
Square Feet: 8,598 SF
Price per SF: $92.86
Year Built: 1960
Year Renovated: 2019
Acres: 1.5156
Additional Land: 1.65 Acres
Land Price: $148,000
Proforma Cap Rate: 26.6%
Property
Summary
Features: Sean Penn filmed cult classic 21 Grams here!
Vintage tile and vanities
High Speed Wifi equally distributed
Direct TV equally distributed to all rooms
New water heater and softener
Plumbing re-done
Semi-Truck Parking
Heat pump heating and air conditioning
New paint and carpet.
New block wall to south
Secure foundation
One-bedroom manager’s unit
Additional 1.65 Acres of land to North
Presented By: Coralee Quintana, MA, MBA
505.639.1266
One Sun Plaza NE Ste 650 , Albuquerque, NM 87109
The information contained herein is believed to be reliable but not guaranteed. It is the
responsibility of any prospective purchaser to independently confirm its accuracy and
verify the subject offering as suitable for the intended use. Neither eXp Realty LLC, it’s
agents or brokers, assume responsibility for typographical errors, misprints or
misinformation.
Leisure Lodge Motel 1204 Santa Fe Avenue, Grants, New Mexico 87020
Financial Summary
Mini PodProjected Income**: $287,503Annual Expenses*: $65,118Projected NOI: $222,385Likely Cap: 26.6%
Presented By: Coralee Quintana, MA, MBA
505.639.1266
One Sun Plaza NE Ste 650, Albuquerque, NM 87109
The information contained herein is believed to be reliable but not guaranteed. It is the
responsibility of any prospective purchaser to independently confirm its accuracy and
verify the subject offering as suitable for the intended use. Neither eXp Realty LLC, it’s
agents or brokers, assume responsibility for typographical errors, misprints or
misinformation.
Expenses
Taxes $3,918
Insurance* $5,766
Communications $4,380
Gas/Electric* $17,383
Supplies & Maintenance $4,615
Payroll* $29,056
Total $65,118
*Estimates based on similar property in size, use and location.
**Based on 54.7% occupancy at $45 per room night.
***Furniture estimated at $38,000, cost added to sale price.
City of Grants Fiscal Year 2018-
2019 Lodger’s Tax DataOccupancy 54.7%
Average Daily Rate $61.25
Hospitality Properties 9
Total Rooms Available 497
Site SummaryeXp Realty LLC is proud to offerthe 32 Room Leisure Lodge Motellocated conveniently off theHistoric Route 66, with access toInterstate 40. This renovatedvintage motel is visible to travelersheading both north and south onRoute 66 and is a three-minutedrive to the New Mexico MiningMuseum and the Route 66 NeonDrive-Thru Sign. Less than twomiles from Northwest New MexicoVisitor Center and entrance to theEl Malpais National Monument,the motel is only a fifteen-minutewalk from Downtown Grants. Thetown of Grants, most known for itshistoric pueblos, art and culture,offers a wide variety of outdoorrecreations, restaurants, motels,and much more! The region issurrounded by beautiful scenicvistas of mountains and mesas,historical attractions, and must-see state parks! This is a hightraffic area for outdoorrecreational travelers and a greatplace to do business. Areatenants include Holiday Inn, SureStay, Best Western, Taco Bell,Canton Café, Blakes Lotaburger,Allsups, John Brooks, Wells Fargoand Verizon.
Presented By: Coralee Quintana, MA, MBA
505.639.1266
One Sun Plaza NE Ste 650 , Albuquerque, NM 87109
The information contained herein is believed to be reliable but not guaranteed. It is the
responsibility of any prospective purchaser to independently confirm its accuracy and
verify the subject offering as suitable for the intended use. Neither eXp Realty LLC, it’s
agents or brokers, assume responsibility for typographical errors, misprints or
misinformation.
Additional 1.65 Acre
Land Parcel Available
1.5156 Acre Site
SITETrade Area Highlights:-Modern 50,000 sq. ft. Cibola General Hospital.
-Multiple outdoor recreational areas.
-Grants Mining Museum.
-Bluewater State Park
-Bandera Volcano
-Chaco Culture National Historic Park.
-Acoma and Laguna have full-service casinos.
-18-hole golf course for public use off Interstate 40.
-Grant’s Community College.
-Acoma Sky City Cultural Center.
-Village of Milan offers a natatorium.
-Route 66 Rural Historic District.
-National Scenic trails of El Malpais and El Morro.
Trade Area
Presented By: Coralee Quintana, MA, MBA
505.639.1266
One Sun Plaza NE Ste 650 , Albuquerque, NM 87109
The information contained herein is believed to be reliable but not guaranteed. It is the
responsibility of any prospective purchaser to independently confirm its accuracy and
verify the subject offering as suitable for the intended use. Neither eXp Realty LLC, it’s
agents or brokers, assume responsibility for typographical errors, misprints or misinformation.
Demographics & Weather
Proximity 1 Mile 3 Miles 5 Miles
Total Population 4,411 9,094 11,358
Households 1,727 3,293 4,146
Average Household
Income
$45,329 $43,543 $43,434
1 Mile
3 Miles
5 Miles
The Grants area's population totals 27,056 residents.
Elevation: 6,460 feet.
Land area: 4,539 square miles.
Population density: 5.9 people per square mile.
Expected Job Growth 2018-2028: 35.61%
Presented By: Coralee Quintana, MA, MBA
505.639.1266
One Sun Plaza NE Ste 650 , Albuquerque, NM 87109
The information contained herein is believed to be reliable but not guaranteed. It is the
responsibility of any prospective purchaser to independently confirm its accuracy and
verify the subject offering as suitable for the intended use. Neither eXp Realty LLC, it’s
agents or brokers, assume responsibility for typographical errors, misprints or misinformation.
Sean Penn Filmed Here!
Presented By: Coralee Quintana, MA, MBA
505.639.1266
One Sun Plaza NE Ste 650, Albuquerque, NM 87109The information contained herein is believed to be reliable but not guaranteed. It is the
responsibility of any prospective purchaser to independently confirm its accuracy and verify
the subject offering as suitable for the intended use. Neither eXp Realty LLC, it’s agents or
brokers, assume responsibility for typographical errors, misprints or misinformation.
Interior Photos
Presented By: Coralee Quintana, MA, MBA
505.639.1266
One Sun Plaza NE Ste 650 , Albuquerque, NM 87109
The information contained herein is believed to be reliable but not guaranteed. It is the
responsibility of any prospective purchaser to independently confirm its accuracy and verify
the subject offering as suitable for the intended use. Neither eXp Realty LLC, it’s agents or
brokers, assume responsibility for typographical errors, misprints or misinformation.
Manager’s Unit Kitchen
Standard Room
Vintage Tiles
1960’s Vanity
Metropolitan Redevelopment
Presented By: Coralee Quintana, MA, MBA
505.639.1266
One Sun Plaza NE Ste 650 , Albuquerque, NM 87109
The information contained herein is believed to be reliable but not guaranteed. It is the
responsibility of any prospective purchaser to independently confirm its accuracy and verify
the subject offering as suitable for the intended use. Neither eXp Realty LLC, it’s agents or
brokers, assume responsibility for typographical errors, misprints or misinformation.
Consensus Planning worked with the City of Grants, Grants MainStreet Project, Cibola Communities Economic Development Foundation, Grants/Cibola County Chamber of Commerce, Northwest
New Mexico Council of Governments, and other interested agencies and individuals to complete the City of Grants Downtown MRA Master Plan for the Santa Fe Avenue corridor within
Downtown Grants and the surrounding neighborhood area. The Downtown MRA Master Plan was predicated on the need for collaboration between the public sector, private investors, and
community stakeholders to achieve a lasting and prosperous revitalization of Downtown Grants. Consensus Planning designed and facilitated a two-day charrette, which included a walking tour,
visioning process, and identification of projects and strategies that were intended to spur redevelopment in Downtown Grants. Some of the concepts that emerged from the charrette included a
“road diet”, enhanced street crossings, and street lighting for Santa Fe Avenue; preservation of the Lux and West Theaters; rehabilitation of the iconic neon Route 66 signs; identification of several
opportunity sites and public art locations; wayfinding program; etc. Two surveys, a business owner survey and a general public survey, were distributed prior to and during the charrette, as well as
the public meeting. The surveys were designed to help inform the recommendations contained in the Downtown MRA Master Plan and to provide further opportunities to reach the community on their vision and concerns regarding Downtown Grants. https://consensusplanning.com/capabilities/urban-design/city-grants-downtown-metropolitan-redevelopment-area-master-plan/
Location Summary
Grants, NM
Overview
Grants New Mexico is located in north-central Cibola County. Santa Fe Avenue (former Route 66) is the main road through the city, while Interstate 40 passes through the south side of the city, with access from exits 81 and 85. The town of Milan borders the northwest end of Grants. The town enjoys recent job growth of 2.26% with expected job growth of 35.61% over the next 10 years. It serves as a hub to many outdoor enthusiasts who enjoy hunting, fishing and mountain activities in the Mount Taylor area.
Grants began as a railroad camp in the 1880s, when three Canadian brothers –Angus A. Grant, John R. Grant, and Lewis A. Grant – were awarded a contract to build a section of the Atlantic and Pacific Railroad through the region. The Grant brothers' camp was first called Grants Camp, then Grants Station, and finally Grants. The new city enveloped the existing colonial New Mexican settlement of Los Alamitos and grew along the tracks of the Atlantic and Pacific Railroad. The town prospered as a result of railroad logging in the nearby Zuni Mountains, and it served as a section point for the Atlantic and Pacific, which became part of the Atchison, Topeka and Santa Fe Railway. After the decline of logging in the 1930s, Grants gained fame as the "carrot capital" of the United States. Agriculture was aided by the creation of Bluewater Reservoir, and the region's volcanic soils provided ideal conditions for farming. Grants also benefited from its location, both being an airway beacon and later by U.S. Route 66, which brought travelers and tourists and the businesses that catered to them. Today the beacon and FSS building on the airport (KGNT) is being restored as museum.
Presented By: Coralee Quintana, MA, MBA
505.639.1266
One Sun Plaza NE Ste 650 , Albuquerque, NM 87109
The information contained herein is believed to be reliable but not guaranteed. It is the
responsibility of any prospective purchaser to independently confirm its accuracy and
verify the subject offering as suitable for the intended use. Neither eXp Realty LLC, it’s
agents or brokers, assume responsibility for typographical errors, misprints or misinformation.
