Best Western Hotel
For Sale
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1765 S Main St, Las Cruces, NM 88005
Best Western-branded 68-room hotel with Mission-style design and an on-site two-bedroom manager’s apartment for added support.
Property Size48,066 SF
Price / SF$114.43
Days on Market189
Property Features for 1765 S Main St
General Information
Standard status
Active
Size
48,066 SF
Property subtype
Hospitality
Building Details
Year Built
1945
Year Renovated
2017
Stories
2
Construction
Mission-style rustic
Listing Agency:
214Realty
Listed By:
Jatin Jariwala · License #0593897
(469) 233-2191
Source:
Crexi
Added: Apr 16
Changed: Oct 20
Last Checked: Oct 20 at 6:39PM
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 214Realty
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Investment Insights
Based on property information with market context.
Best Western Mission Inn is a Best Western-branded hotel offering 68 guest rooms in a distinctive Mission-style rustic design. Guest rooms are oversized, averaging approximately 370 square feet, and the property includes a two-bedroom manager’s apartment.
The hotel is located along Las Cruces’ primary commercial corridor at 1765 S Main St.
The ownership presentation notes stabilized, cash-flowing performance and long-term brand waivers that are described as supporting the property’s local character, with a stated minimal PIP requirement and limited near-term capital needs.
The hotel is located along Las Cruces’ primary commercial corridor at 1765 S Main St.
The ownership presentation notes stabilized, cash-flowing performance and long-term brand waivers that are described as supporting the property’s local character, with a stated minimal PIP requirement and limited near-term capital needs.
Key Highlights
- Best Western‑branded hotel built in 1945 offering 68 rooms
- Mission‑style rustic design with oversized guest rooms averaging about 370 SF
- Includes a two‑bedroom manager's apartment on‑site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$295,894
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,917,880
$5.9M
Cap Rate 7%
$4,227,057
$4.2M
Cap Rate 9%
$3,287,711
$3.3M
Market Conditions
NOI Build-Up for 48,066 SF
Gross rent
$692.2K $14.40/SF
− Vacancy
−$69.2K −$1.44/SF
EGI
$622.9K $12.96/SF
− OpEx
−$327.0K −$6.80/SF
NOI
$295.9K $6.16/SF
Area
Las Cruces, NM
Vacancy
10.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,917,880
Cap Rate 7%
$4,227,057
Cap Rate 9%
$3,287,711
Alternative Uses
Best Use
Hotel Hospitality
$4.23M
$3.70M – $4.93M
NOI $295,894 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.41M
$7.36M – $9.81M
NOI $588,789 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,402
Businesses Nearby
Explore this area
Business Placement
Demographics for 88005, NM
26,997
Population
12,039
Households
2.2
Avg Household Size
41
Median Age
31%
College-Educated
85%
High-School Grad
150.9 sq mi
ZIP Area
179
Density / Sq Mi
$51,770
Median Household Income
$28,908
Median Earnings
$899
Median Rent
$207,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Hotel - Best Western-branded 68-room hotel with Mission-style design and an on-site two-bedroom manager’s apartment for added support.
Where is this hotel located?
The property is located at 1765 S Main St Las Cruces, NM.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Best Western‑branded hotel built in 1945 offering 68 rooms; Mission‑style rustic design with oversized guest rooms averaging about 370 SF; Includes a two‑bedroom manager's apartment on‑site
