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    2295 Historic Route 66 Santa Rosa, NM 88435

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    For Sale
    $2,700,000

    34-room Econo Lodge Inn & Suites – Santa Rosa, NM

    Property size:
    18,000 SF
    Added:
    Jan 28, 2025
    Days on Market:
    445
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 2295 Historic Route 66

    General Information

    Standard status
    Active
    Property type
    Hotels, Other hospitality properties, Other residential income properties, Hospitality properties, Residential income properties
    Size
    18,000 SF
    Elevators
    N/A

    Building Details

    Year Built
    1954
    Buildings
    1
    Stories
    1
    Units
    34

    We can help!

    Listing Contact
    Jigar “jay” Desai

    Listing agent Jigar “jay”

    Listing office

    Listing date Jan 28, 2025

    Overview

    Route 66 Econo Lodge Inn

    This 34-room Econo Lodge Inn & Suites is located in Santa Rosa, New Mexico, directly off Historic Route 66, providing excellent visibility to travelers. The 18,000 square foot property offers a fantastic opportunity for owner-operators and first-time hotel buyers. A significant advantage is the inclusion of a manager's living quarters, boasting two bedrooms and two bathrooms, allowing for increased positive cash flow through hands-on operation. The property benefits from the established Choice Hotels brand and a loyal customer base, promising consistent revenue and growth potential. Santa Rosa itself offers a blend of local charm and economic opportunity, attracting visitors to attractions such as the Route 66 Auto Museum and the Blue Hole. The town's rich cultural heritage, diverse dining options, and prime location along a historic route create a lucrative environment for hospitality investments. Recent financial performance shows a revenue increase of nearly $30,000 compared to 2023 figures, indicating strong potential for future profitability. The seller is open to considering all written offers.
    Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Restaurant Dental Office Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Department Store Hotel & Motel Grocery & Convenience Store Daycare Center Clothing & Fashion Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Rosa
    County
    Guadalupe
    State
    New Mexico
    Longitude
    -104.705
    Latitude
    34.8581

    Nearby Similar for Sale

    • $300,000

      Off-Grid Cabin on 156 Acres

      Self-sufficient cabin on 156 acres near Santa Rosa, NM.
      4221 Palo Amarillo Road, Santa Rosa, NM 88435
      View Details
    • $2,700,000
      18,000 SF

      34-room Econo Lodge Inn & Suites – Santa Rosa, NM

      34-room hotel on Historic Route 66 in Santa Rosa, NM.
      2295 Historic Route 66, Santa Rosa, NM 88435
      View Details
    • $2,700,000
      18,000 SF

      Econo Lodge Inn & Suites

      34-room hotel with manager's living quarters in Santa Rosa.
      2295 U.S. Rt. 66, Santa Rosa, NM 88435
      View Details

    FAQs

    What type of property is this?
    Hotel - 34-room Econo Lodge Inn & Suites – Santa Rosa, NM
    Where is this hotel located?
    The property is located at 2295 Historic Route 66 Santa Rosa, NM.
    What is the asking price?
    The asking price for this property is $2,700,000.
    What are key features of this property?
    This property features: Perfect opportunity for first time hotel buyer; Minimal PIP; Revenue up nearly $30,000 compared to 2023 numbers
    (520) 664-4091
    We can help!
    Listing Contact
    Jigar “jay” Desai
    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.

    More about this property
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