Listing Agents
Michael Sheppard
T | 505.515.1850
msheppard@paramountlodging.com
Ray Regan
T | 505.220.0460
rregan@paramountlodging.com
Hunter Johnson
T | 970.880.0621
hunter@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee simple interest in the 50-room Econo Lodge Downtown Albuquerque offered through a traditional sale process
- Opportunity to acquire irreplaceable real estate in New Mexico’s largest city for the first time in over 30 years
- Offered unencumbered of management with short term franchise agreement in place, providing prospective owner with longer term brand positioning optionality
- Strategic location relative to major demand drivers including Presbyterian Hospital and the Heart Hospital of New Mexico, the University of New Mexico, the Albuquerque International Sunport and Interstate 25.
- Strong in-place cash flow with year-over-year gains in RevPAR index making the asset readily financeable
- Optimal market positioning at the intersection of Interstate 25 and Central Ave. (Route 66) with upwards of 150,000 vehicles passing the location daily
- Ideal time to invest in Albuquerque, the 32nd largest city in the country, amidst major investment by companies including Facebook, Amazon and Netflix
- Less than five miles from the Albuquerque International Sunport (5.5MM +/- visitors annually), presently undergoing a $90MM +/- renovation, and across the street from Presbyterian Hospital, which just added 144 beds in an 11-story tower costing approximately $260MM