203 Manzanares Ave Socorro, NM 87801
Property profile & analytics
Location Intelligence
Current Use by Public Records
- Mixed-use properties
Property Details for 203 Manzanares Ave
- Lot size
- 0.50 lot acres
- Property type
- Mixed-use properties
Description
This exceptional mixed-use property, located at 203 Manzanares Avenue in Socorro, New Mexico, presents a compelling investment opportunity. The historic Hotel Val Verde boasts 21,780 square feet on a half-acre lot, showcasing distinctive architecture and a rich history. The property features a beautiful interior courtyard, 77 unique guest rooms, each with its own character, and has recently generated income through Airbnb rentals. On-site amenities include a kitchen, restaurant, and lobby. While the restaurant currently requires repairs before full operational capacity can be achieved, this presents a chance to enhance the property's value. The lower level offers numerous commercial office spaces ideal for leasing, generating additional revenue streams. Detailed floor plans are available upon request. This landmark hotel is ripe for restoration, promising significant returns for the discerning investor seeking a unique and historically significant property in the heart of Socorro. The property's combination of hotel rooms, commercial spaces, and its central location makes it an attractive prospect for a variety of investment strategies. The existing Airbnb operation demonstrates the property's immediate income-generating potential, while the office spaces offer further opportunities for long-term lease agreements. This is a rare chance to acquire a piece of Socorro's history and transform it into a thriving commercial and hospitality destination.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Socorro
- County
- Socorro
- State
- New Mexico
- Longitude
- -106.89
- Latitude
- 34.0578
