For Sale
$13,000,000

2210 Pierce StCarlsbad, NM 88220

80-key hotel, strong ROI potential.

Overview

Added:
Dec 11, 2024
Days on market:
116
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.

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 Details for 2210 Pierce St

Property type
Hospitality properties, Hotels
Square Feet
46,480 SF
Year Built/Renovated
2007/2018
Buildings
1
Stories
3

Location Insight

City
Carlsbad
County
Eddy
State
New Mexico
Latitude
32.4392694
Longitude
-104.2534479
2210 Pierce St, Carlsbad, New Mexico

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2210 Pierce St
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