Created date: January 29, 2024
Date last updated: May 3, 2024
- Owner financing available for qualified buyers
- Absentee managed: Running T12 MPI's: OCC 87.8%, ADR 91.3%, RevPAR 80.2%
- Recently renovated and will have minimal PIP for buyer
- Large manager's apartment on-site
- Interior corridor and located in an opportunity zone
Property Description
NewGen Advisory is pleased to announce the listing of the Econo Lodge in Tucumcari, New Mexico. This 41-room economy hotel is located on Historic Route 66 and is a prime opportunity for an owner operator. The property is currently held absentee and presents immediate upside for a local owner through increased operational efficiency. The Econo Lodge is currently underperforming against its comp set but has the potential to increase revenue through a hands-on management approach.
Tucumcari is a busy market for road-trip travel. Major draws include its fame as a stop for Route 66 travelers, as well as transient business from Texas travelers on their way to skiing and leisure destinations in northern New Mexico and Colorado.
Broker of Record: Dinesh "Dan" Rama | NewGen Advisory NM, LLC | #20316