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    Carlsbad Hotel Investment Opportunity Title is generated by Realmo AI

    2210 West Pierce Street, Carlsbad, NM 88220

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    For Sale
    $1,300,000

    The Holiday Inn Express – Carlsbad, NM

    Property size:
    46,480 SF
    Price / SF:
    $27/SF
    Added:
    Jan 28, 2025
    Days on Market:
    477
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 2210 West Pierce Street

    General Information

    Standard status
    Active
    Property type
    Hotels, Other hospitality properties, Other residential income properties, Hospitality properties, Residential income properties
    Size
    46,480 SF
    Elevators
    N/A

    Building Details

    Year Built
    2007
    Year Renovated
    2018
    Buildings
    1
    Stories
    3
    Units
    80

    We can help!

    Listing Contact
    Devesh “devo” Ragha

    Listing agent Devesh “devo”

    Listing office

    Listing date Jan 28, 2025

    HighLights

    • 80 modernized units for enhanced guest comfort
    • TTM Oct 2024 room revenue: $3,154,279.56
    • 2023 room revenue: $3,784,517.90
    • Aug 2024 YTD MPI: OCC $104.2% / ADR 116.3% / RevPAR 121.2%
    • Renovated in 2018 with $2,200,000 CapEX Formula Blue PIP resulting in little to no PIP to buyer
    • Convenient access to local attractions: Living Desert Zoo and Gardens State Park and Carlsbad Caverns National Park
    • Carlsbad is a hub of oil and gas production in the Permian BasinOC

    Overview

    This 80-unit hotel in Carlsbad, New Mexico, presents an investment opportunity. The property was extensively renovated in 2018 with $2,200,000 in capital expenditures. The 46,480 square foot hotel features modernized accommodations. Its location provides access to local attractions such as the Living Desert Zoo and Gardens State Park and Carlsbad Caverns National Park. The property's revenue figures include $3,784,517.90 in room revenue for 2023 and $3,154,279.56 in room revenue (TTM Oct 2024). August 2024 year-to-date key performance indicators (KPIs) show occupancy at 104.2%, average daily rate (ADR) at 116.3%, and revenue per available room (RevPAR) at 121.2%. The renovations minimize future capital expenditure needs. The property is located in Carlsbad, NM.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ramirez Rosemary Hotel & Motel Holiday Inn Express ... Hotel & Motel

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Carlsbad
    County
    Eddy
    State
    New Mexico
    Longitude
    -104.43
    Latitude
    32.3187

    Nearby Similar for Sale

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    • $1,300,000
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      The Holiday Inn Express – Carlsbad, NM

      80-unit hotel in Carlsbad, NM, renovated in 2018.
      2210 West Pierce Street, Carlsbad, NM 88220
      View Details
    • $700,000
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      Carlsbad Retail/Auto Opportunity

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    • Contact for pricing
      46,480 SF

      Carlsbad Hospitality Investment Opportunity

      80 modernized units, renovated in 2018, prime Carlsbad location.
      2210 W Pierce St, Carlsbad, NM 88220
      View Details

    FAQs

    What type of property is this?
    Hotel - The Holiday Inn Express – Carlsbad, NM
    Where is this hotel located?
    The property is located at 2210 West Pierce Street Carlsbad, NM.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: 80 modernized units for enhanced guest comfort; TTM Oct 2024 room revenue: $3,154,279.56; 2023 room revenue: $3,784,517.90
    (806) 584-1454
    We can help!
    Listing Contact
    Devesh “devo” Ragha
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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