2210 Pierce St Carlsbad, NM 88220
- Hotels
- 46,480 SF
Current Use by Public Records
- Ramirez Rosemary / Hotel
- Holiday Inn Express & Suites Carlsbad, an IHG Hotel / Hotel / Conference Center
Property Details for 2210 Pierce St
- Year built
- 2007
- Property size
- 46,480 SF
- Property type
- Hotels
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Carlsbad
- County
- Eddy
- State
- New Mexico
- Longitude
- -104.2534479
- Latitude
- 32.4392694
