Former Red Lion Redevelopment
For Sale
Contact for pricing
1501 E Santa Fe Ave, Grants, NM 87020
Value-add opportunity in Grants, New Mexico off I-40.
Property Size183,757 SF
Price / SF$13.60
Days on Market184
Property Features for 1501 E Santa Fe Ave
General Information
Standard status
Active
Size
183,757 SF
Property subtype
Hospitality
Zoning
Commercial
Building Details
Year Built
1968
Buildings
1
Stories
2
Listing Agency:
NewGen Advisory Phoenix
Listed By:
Jigar "Jay" Desai · License #AZ SA675144000
(520) 664-4091
Source:
Crexi
Added: Mar 4
Changed: Aug 14
Last Checked: Sep 1 at 10:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NewGen Advisory Phoenix
Investment Insights
Based on property information with market context.
The former Red Lion in Grants, New Mexico, presents a value-add opportunity in a market supported by Interstate 40 traffic, government and contractor demand, and year-round outdoor tourism. Located directly off I-40, the property benefits from visibility and access, positioning it for redevelopment. Currently closed, the asset offers a blank-slate opportunity for investors to reposition without operational disruption. Potential pathways include rebranding and reopening as a hotel to capture transient and workforce demand, converting the property to affordable or workforce housing to address regional needs, or redeveloping it into market-rate apartments. The building features expansive common areas and flexible interior layouts that allow for reconfiguration and adaptive reuse, including the potential for additional revenue-generating components such as co-working space, community amenities, or service-oriented commercial uses. The property is 183757 square feet. Ownership is motivated and willing to work with qualified buyers to structure a transaction aligned with their business plan, including seller carry, lease-option arrangements, or other creative financing solutions.
Key Highlights
- Vacant Value‑Add: Renovate and reposition without operational disruption.
- Prime I‑40 Location: High visibility and direct interstate access.
- Flexible Repositioning: Rebrand (Choice, Wyndham, Sonesta), convert to workforce housing, or redevelop to apartments.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Explore this area
Business Placement
Demographics for 87020, NM
11,471
Population
4,593
Households
2.5
Avg Household Size
38
Median Age
23%
College-Educated
85%
High-School Grad
902.0 sq mi
ZIP Area
13
Density / Sq Mi
$67,511
Median Household Income
$39,100
Median Earnings
$741
Median Rent
$154,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Value-add opportunity in Grants, New Mexico off I-40.
Where is this hotel located?
The property is located at 1501 E Santa Fe Ave Grants, NM.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Vacant Value‑Add: Renovate and reposition without operational disruption.; Prime I‑40 Location: High visibility and direct interstate access.; Flexible Repositioning: Rebrand (Choice, Wyndham, Sonesta), convert to workforce housing, or redevelop to apartments.
