Description for 2101 & 2121 South Triviz, Las Cruces, NM 88001
Property tours are available on the following dates by appointment. Please contact the listing broker to schedule a tour.
• February 22 & 23
• March 8 & 9
Comfort Suites Las Cruces - Property Details::
• Rooms: 61
• Year Built: 1996
• Year Renovated: 2006
• Occupancy (Dec 2017 TTM): 61.9%
Sleep Inn Las Cruces - Property Details:
• Rooms: 63
• Year Built: 1997
• Year Renovated: 2006
• Occupancy (Dec 2017 TTM): 60.3%
Comfort Suites & Sleep Inn Las Cruces - Investment Highlights:
• Fee-simple interest in the institutionally owned and third-party managed 63-room Sleep Inn University and 61-room Comfort Suites University offered at a fraction of replacement cost
• Properties offered for sale through Ten-X in the March 21st auction
• Available unencumbered of debt and third-party management with the ability to retain the Sleep Inn and Comfort Suites brands
• Seller has completed approximately $550k (~$4k per key) of total renovation in recent years
• Strong operating economies of scale by owning both University market Choice assets and the opportunity to operate with a shared labor pool on both properties
• Adjacent to Interstate 25 interchange with upwards of 42,000 vehicles passing the location daily
• Adjacent to New Mexico State University and walking distance to all university related demand and the Las Cruces Convention Center
• Within walking distance of numerous full-service nationally recognized restaurants
• Proximate to all broader Las Cruces demand including White Sands Missile Range, Aggie Memorial Stadium, and Memorial Medical Center
Comfort Suites & Sleep Inn Las Cruces - Investment Overview:
Paramount Lodging Advisors (PLA) and Ten-X are pleased to exclusively present the opportunity to acquire as a two property portfolio the fee-simple interests in the 61-room Comfort Suites and the 63-room Sleep Inn Las Cruces, New Mexico.
Since 2014, each of the three-story properties have received significant capital improvements, the Comfort Suites has received $361,000 or $5.9k per key in capital improvements, and the Sleep Inn has undergone approximately $730,000 or $11.6k per key in capital improvements.
Located at adjacent to one another on South Triviz Drive in Las Cruces, the properties are located less than four miles from downtown Las Cruces, which is the fastest growing municipality in all of New Mexico. Additionally, the property is approximately one-mile from some of Las Cruces’ largest, and most stable employers including New Mexico State University, which has an enrollment of approximately 15,000 students, and Memorial Medical Center.
Property Listed by: Krishan Kumar | spicyProperties | NM License # 18765 | 505-216-7788
Auctioneer Licensing Information
Ten-X Lee Leslie RE Brkr 16769 (800) 499-6199