233 Paseo Del Pueblo Sur
Taos, NM 87571

NOTE: The proforma shown herein is projecting based upon our estimates, history, and past results. Double queen rooms (25) built in 1963, remodeled several times, has the most deferred maintenance, needs new roof with some structural/decking/joists replaced. Lobby built 1992 is very nice with beamed & tongue & groove ceiling, loads of double glazed low E film windows, hydronic under floor & baseboard heat, needs roof sealing and interior paint. All rooms have double glazed Low E film vinyl framed windows (some broken glass) and PTAC HVAC (they're older, should be updated, some not operating). Single king bed rooms built in 1996 need roof repair/sealing, 5 rooms with work needed, and 25 with minimal maintenance needed. All king rooms have gas log fireplaces (thermostatically controlled wall furnaces). Retail rental & OPL building needs some new roof w/ some structural and any remodeling deemed necessary by new owner and/or tenants. Approximately 1 acre undeveloped land for any use in CBD zoning - hotel rooms, mixed use, artist/business live/work, condos, casitas, or??? For sale package includes replacement cost analysis/estimates, potential sales & operating costs, list of comparable properties for sale in Taos, and more detailed descriptions of buildings & rooms. Brief engineer report and licensed contractor estimate available. Some of the buildings we've estimated at 100% depreciation in the replacement cost/value estimates. Land valued at county assessed value (often that value is below market). All F&F&E valued at 100% depreciation. Some comparable data for local sales and for sale is available. Loopnet per SF numbers for this listing are NOT accurate. Proforma for 2019 are estimated low @ 40% Occ and $75 ADR for delayed results/absorption from remodeling then opening. Town annual 2017 occupancy is an average of 56% with an ADR of $117. This property is about to become even better with the state doing major road work which will re-align the traffic signaled intersection just south of the hotel. That project will make the hotel be a corner property at Paseo del Pueblo Sur and Los Pandos plus provide sidewalks almost to Taos Plaza and a better traffic flow. The state is taking/buying approx. 2,167 SF of the property and asphalt parking lot for that project. They are paying $12/SF for the land plus $2.22/SF for the asphalt. The price listed herein is NET of that state purchase/sale. Property located directly across from Kroger's Smith's Store & gas station, adjacent to Big 5 Sporting Goods & Ace Hardware, two blocks from historic Taos Plaza, on the most heavily traveled road into Toas from the South (NM 68). Long time owner/broker is serious about selling this under developed, under operated property. The list price is about $200,000 LOWER than the August 2018 state appraisal and that appraisal is for land only.