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Hotel-Motel

Days Inn Socorro

507 N California St, Socorro, NM 87801

Listing Price: $1,300,000

Cap Rate
9.22%
Number of Rooms
41
RevPAR
$19
Gross SF
28,244
Price/Room
$31,707
RRM
3.35
Price/Gross SF
$46.03
Year Built
1964

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the Days Inn Socorro, a 41-room hotel located in Socorro, NM. Amenities include a business center, complimentary breakfast buffet, large dining area and guest laundry facilities. A PIP was last completed on the property in 2019; however, the hotel still needs new signage, a new furniture package and new curtains in the rooms. Several property renovations have been completed since 2017, including a new roof, new furniture in all rooms and common areas, new hardwood flooring going in all rooms, and extensive renovations to the on-site living quarters. Before a new buyer takes over the property, the pool will either be renovated and re-opened or an exercise room will be added to the premises.

The Days Inn Socorro benefits from its location off of Interstate 25 and its proximity to the Rio Grande. Notable attractions include the Hammel Museum, San Miguel de Socorro, Socorro Historic Plaza and the National Radio Astronomy Observatory. Socorro is located in the Rio Grande Valley at an elevation of 4,579 feet. It is the county seat of Socorro County. Socorro is located 74 miles south of Albuquerque and 146 miles north of Las Cruces.

Investment Highlights

  • Priced at $31k/Room
  • Renovated in 2019 | Minimal PIP Anticipated
  • Less Than a Mile to Hammel Museum, San Miguel del Socorro & Socorro Historic Plaza
  • 1 Mile to The New Mexico Institute of Mining and Technology
  • 2 Miles to Socorro Municipal Airport
  • 2 Miles to Socorro General Hospital

Exclusively Listed By

Broker of Record

  • Matt Reeves

    Senior Associate

    (505) 445-6333

    License(s) NM: 19583

    New Mexico

Listing Price: $1,300,000

Cap Rate
9.22%
Number of Rooms
41
RevPAR
$19
Gross SF
28,244
Price/Room
$31,707
RRM
3.35
Price/Gross SF
$46.03
Year Built
1964

Investment Highlights

  • Priced at $31k/Room
  • Renovated in 2019 | Minimal PIP Anticipated
  • Less Than a Mile to Hammel Museum, San Miguel del Socorro & Socorro Historic Plaza
  • 1 Mile to The New Mexico Institute of Mining and Technology
  • 2 Miles to Socorro Municipal Airport
  • 2 Miles to Socorro General Hospital

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the Days Inn Socorro, a 41-room hotel located in Socorro, NM. Amenities include a business center, complimentary breakfast buffet, large dining area and guest laundry facilities. A PIP was last completed on the property in 2019; however, the hotel still needs new signage, a new furniture package and new curtains in the rooms. Several property renovations have been completed since 2017, including a new roof, new furniture in all rooms and common areas, new hardwood flooring going in all rooms, and extensive renovations to the on-site living quarters. Before a new buyer takes over the property, the pool will either be renovated and re-opened or an exercise room will be added to the premises.

The Days Inn Socorro benefits from its location off of Interstate 25 and its proximity to the Rio Grande. Notable attractions include the Hammel Museum, San Miguel de Socorro, Socorro Historic Plaza and the National Radio Astronomy Observatory. Socorro is located in the Rio Grande Valley at an elevation of 4,579 feet. It is the county seat of Socorro County. Socorro is located 74 miles south of Albuquerque and 146 miles north of Las Cruces.

Exclusively Listed By

Broker of Record

  • Matt Reeves

    Senior Associate

    (505) 445-6333

    License(s): NM: 19583

    New Mexico

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