1100 California St Socorro, NM 87801
- Hospitality properties
- 25,782 SF
Current Use by Public Records
- Hospitality properties
Property Details for 1100 California St
- Year built
- 1995
- Property size
- 25,782 SF
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This exceptional investment opportunity presents the Best Western Socorro Hotel & Suites, a 120-key hotel located at 1100 N California St, Socorro, NM 87801. Boasting a prime location on a major thoroughfare, this two-building, two-story property offers 25,782 square feet of well-maintained space, built in 1995. The hotel features a compelling combination of amenities designed to attract both leisure and business travelers, including an indoor pool, fitness center, business center, and conference facilities. With a strong track record and proven revenue potential, this property offers a significant return on investment. Financial highlights include an asking price of $7,200,000, a Net Operating Income (NOI) of $782,000, and a compelling 10.86% capitalization rate. The trailing twelve months (as of May 2024) show an occupancy rate of 49.8%, an Average Daily Rate (ADR) of $117.62, and a Revenue Per Available Room (RevPAR) of $58.56. This established hotel serves as a key lodging option for the community, supporting local events and the economy, and presents potential for future expansion or service enhancements to further increase revenue streams. The property's strategic location ensures easy access to local attractions, business centers, and educational institutions, guaranteeing a consistent flow of guests throughout the year. This is a rare opportunity to acquire a well-established, profitable hotel in a thriving New Mexico market.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Socorro
- County
- Socorro
- State
- New Mexico
- Longitude
- -106.893
- Latitude
- 34.0715
