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    2210 Pierce St Carlsbad, NM 88220

    For Sale
    $13,000,000

    80-key hotel, strong ROI potential.

    Property size:
    46,480 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional 80-key Holiday Inn Express & Suites in Carlsbad, New Mexico presents a compelling investment opportunity. The property boasts 46,480 square feet across a three-story building, constructed in 2007 and extensively renovated in 2018 for $2,200,000, implementing the Formula Blue design. This renovation ensures minimal future capital expenditures for the buyer. The hotel's strong performance is evident in its impressive financial figures: 2023 room revenue reached $3,784,517.90, while the trailing twelve months (TTM) August 2024 room revenue totaled $2,555,381.34. August 2024 year-to-date key performance indicators (KPIs) show an occupancy rate of 104.2%, an average daily rate (ADR) of 116.3%, and a revenue per available room (RevPAR) of 121.2%. The hotel's prime location in Eddy County, at 2210 W Pierce St, zip code 88220, offers convenient access to local attractions such as the Living Desert Zoo and Gardens State Park and Carlsbad Caverns National Park. Carlsbad's status as a significant hub within the Permian Basin's oil and gas industry further enhances the property's investment appeal. The asking price for this Core+ investment is $13,000,000.

    Property Features for 2210 Pierce St

    General Information

    Property type
    Hotels
    Square Feet
    46,480 SF

    Building Details

    Year Built/Renovated
    2007/2018
    Buildings
    1
    Stories
    3

    HighLights

    • 80 modernized guest rooms.
    • Trailing twelve‑month (TTM) room revenue through August 2024: $2,555,381.34.
    • 2023 room revenue: $3,784,517.90.
    • August 2024 year‑to‑date key performance indicators (KPIs): 104.2% occupancy, 116.3% ADR, and 121.2% RevPAR.
    • 2018 renovation with $2,200,000 capital expenditure implementing Formula Blue design, minimizing future capital expenditures.
    • Convenient access to Living Desert Zoo and Gardens State Park and Carlsbad Caverns National Park.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ramirez Rosemary Hotel Holiday Inn Express ... Hotel

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Carlsbad
    County
    Eddy
    State
    New Mexico
    Longitude
    -104.2534479
    Latitude
    32.4392694

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    FAQs

    What type of property is this?
    Hotel - 80-key hotel, strong ROI potential.
    Where is this hotel located?
    The property is located at 2210 Pierce St Carlsbad, NM.
    What is the asking price?
    The asking price for this property is $13,000,000.
    What are key features of this property?
    This property features: 80 modernized guest rooms.; Trailing twelve-month (TTM) room revenue through August 2024: $2,555,381.34.; 2023 room revenue: $3,784,517.90.
    Request Owner's contact information
    2210 Pierce St Carlsbad, NM 88220
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    Realmo Value Estimation

    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.

    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.

    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
    2210 Pierce St Carlsbad, NM 88220
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