For Sale
$13,000,000

2210 Pierce St Carlsbad, NM 88220

80-key hotel, strong ROI potential.

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
138
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

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FAQs

What type of property is this?
Hospitality property - 80-key hotel, strong ROI potential.
Where is the hospitality property located?
The property is located at 2210 Pierce St Carlsbad, NM.
What is the asking price?
The asking price for this property is $13,000,000.
What are key features of this property?
This property features: 80 modernized guest rooms.; Trailing twelve-month (TTM) room revenue through August 2024: $2,555,381.34.; 2023 room revenue: $3,784,517.90.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
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Property Records

Contacts

Devesh Ragha
Devesh Ragha
Visit Broker Website

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Pierce St
Carlsbad, NM 88220

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Pierce St
Carlsbad, NM 88220

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Disclaimer

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We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

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2210 Pierce St
  • Devesh Ragha
    Devesh Ragha
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