Duplicate Gallup, NM 87301
- Hospitality properties
- 18,340 SF
- 2.03 lot acres
Current Use by Public Records
- Hospitality properties
Property Details for 0 Duplicate
- Year built
- 1962
- Lot size
- 2.03 lot acres
- Property size
- 18,340 SF
- Property type
- Hospitality properties
- Property subtype
- Motels
Description
This exceptional investment opportunity presents a 50-room motel situated on historic Route 66 in Gallup, New Mexico, just one mile from the city's downtown area. The property boasts two buildings, each two stories high, encompassing a total of 18,340 square feet on a 2.03-acre lot. Built in 1962 and renovated in 2020, the motel features a mix of room configurations: 27 single queen bed units, 20 double queen bed units, and 3 triple bed units. Ample parking is available with 55 spaces. A significant advantage is the inclusion of a separate 1,620 square foot freestanding building, which has generated rental income historically. The motel is currently undergoing phased renovations, with several rooms already updated and others in progress. The property is zoned for heavy commercial use, offering flexibility for future expansion or development. The asking price is $699,000, translating to $38.11 per square foot. This presents a strong return on investment potential in a prime location along a well-traveled historic highway. The property is privately owned and ready for a new owner/user.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Gallup
- County
- McKinley
- State
- New Mexico
- Longitude
- -108.767
- Latitude
- 35.52
