0 DuplicateGallup, NM 87301

Property Details for 0 Duplicate

Year built

1962

Lot size

2.03 AC

Property size (Sq ft)

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.

Location Insight

City

Gallup

County

McKinley

State

New Mexico

Latitude

35.52

Longitude

-108.767

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