Hotel-Motel

Best Western Moriarty Heritage Inn

111 Anaya Blvd, Moriarty, NM 87035

Listing Price: $4,495,000

Cap Rate
5.83%
Number of Rooms
70
RevPAR
$55
Gross SF
115,434
Price/Room
$64,214
RRM
3.18
Price/Gross SF
$38.94
Year Built
1999

Investment Overview

Marcus & Millichaps National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale to qualified investors the Best Western Moriarty Heritage Inn. The Best Western-branded hotel is priced at $4,495,000 or $64,214 price per room; this represents a 3.18 times multiple on October 2020 trailing 12-month room revenues, and has proven to be a stable performer throughout the Covid-19 Pandemic. The property is in the Albuquerque, New Mexico MSA, the largest city in New Mexico. The hotel will be delivered with the latest Best Western design scheme, and a minimal Property Improvement Plan is expected for a new buyer. It is anticipated that it will qualify for Best Westerns Auto Transfer.

This two-story, 70-room hotel presents a new owner the opportunity to acquire a value-add hospitality asset at a price below replacement cost. An investor can maximize profits through a reduction in management costs for the property. The hotel is well-equipped with an indoor pool, spa, fitness center, and business center.

Operationally, the hotel has achieved $1,413,112 in October 2020 Trailing-12 month room revenues, resulting in a net operating income of approximately 18.2 percent of total revenue, a number that can be significantly improved upon by a hands on owner-operator. This hotel has consistently proven a market share dominance exceeding 124% RevPAR index from 2017-2019; trailing 12-month September 2020 RevPAR index at 133%. Focusing on increasing the hotels operational efficiency through a more detailed expense management approach, a new owner can see a significant boost in hotel performance, seizing a larger portion of top-line revenues. The property has an extensive history of strong revenue performance and had a heavily increasing revenue trend in 2019.

The expenses include provisions for a four percent reserve for capital replacement. The hotel is offered fee simple, unencumbered by a management contract and debt.

Investment Highlights

  • 70-Room, Interior Corridor Hotel Renovated in 2019
  • Proven to be a Strong Performer Amidst the Covid-19 Pandemic
  • Hotel to be Delivered with Latest Best Western Design Scheme
  • Located Within 30 Minutes From Albuquerque off Interstate Highway 40 & Route 66
  • Recipient of 2019 Trip Advisor Certificate of Excellence Award
  • Operational Upside for Prospective Hands-On Owner-Operator Investor

Exclusively Listed By

Broker of Record

  • Matt Reeves

    Senior Associate

    License(s): NM: 19583

    New Mexico

Hotel-Motel

Best Western Moriarty Heritage Inn

Listing Price: $4,495,000

Cap Rate
5.83%
Number of Rooms
70
RevPAR
$55
Gross SF
115,434
Price/Room
$64,214
RRM
3.18
Price/Gross SF
$38.94
Year Built
1999

Investment Highlights

  • 70-Room, Interior Corridor Hotel Renovated in 2019
  • Proven to be a Strong Performer Amidst the Covid-19 Pandemic
  • Hotel to be Delivered with Latest Best Western Design Scheme
  • Located Within 30 Minutes From Albuquerque off Interstate Highway 40 & Route 66
  • Recipient of 2019 Trip Advisor Certificate of Excellence Award
  • Operational Upside for Prospective Hands-On Owner-Operator Investor

Investment Overview

Marcus & Millichaps National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale to qualified investors the Best Western Moriarty Heritage Inn. The Best Western-branded hotel is priced at $4,495,000 or $64,214 price per room; this represents a 3.18 times multiple on October 2020 trailing 12-month room revenues, and has proven to be a stable performer throughout the Covid-19 Pandemic. The property is in the Albuquerque, New Mexico MSA, the largest city in New Mexico. The hotel will be delivered with the latest Best Western design scheme, and a minimal Property Improvement Plan is expected for a new buyer. It is anticipated that it will qualify for Best Westerns Auto Transfer.

This two-story, 70-room hotel presents a new owner the opportunity to acquire a value-add hospitality asset at a price below replacement cost. An investor can maximize profits through a reduction in management costs for the property. The hotel is well-equipped with an indoor pool, spa, fitness center, and business center.

Operationally, the hotel has achieved $1,413,112 in October 2020 Trailing-12 month room revenues, resulting in a net operating income of approximately 18.2 percent of total revenue, a number that can be significantly improved upon by a hands on owner-operator. This hotel has consistently proven a market share dominance exceeding 124% RevPAR index from 2017-2019; trailing 12-month September 2020 RevPAR index at 133%. Focusing on increasing the hotels operational efficiency through a more detailed expense management approach, a new owner can see a significant boost in hotel performance, seizing a larger portion of top-line revenues. The property has an extensive history of strong revenue performance and had a heavily increasing revenue trend in 2019.

The expenses include provisions for a four percent reserve for capital replacement. The hotel is offered fee simple, unencumbered by a management contract and debt.

Exclusively Listed By

Broker of Record

  • Matt Reeves

    Senior Associate

    License(s): NM: 19583

    New Mexico

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