Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the Sleep Inn & Suites Airport in Albuquerque, New Mexico. This three-story interior corridor property has 101 rooms and sits on a spacious 1.90-acre parcel. The rooms and common areas have been renovated in the past few years, including doing tile work on the pool, replacing carpets in the hallways, and updating the furniture and fixtures in the rooms. The Sleep Inn & Suites Albuquerque Airport is optimally located in the largest city in New Mexico, less than two miles away from the University of New Mexico as well as the largest international airport in the state. The University of New Mexico enrolled over 22,000 students in 2020 and the Albuquerque International Sunport welcomed over 5.4 million passengers in 2019. Albuquerques economy is supported by large companies such as Sandia National Laboratories, a government-owned research center operated by Lockheed Martin, as well as Intel Corp., Schott Solar, Thomas & Betts, General Mills and Tempur-Pedic. According to Marcus & Millichap Research Services, New Mexico has fueled a large portion of the tremendous growth in tourism in the Southwest. New Mexico recently posted occupancy increases above 100 basis points, driving healthy RevPAR gains.