1501 E Santa Fe Ave, Grants, NM 87020 For Sale

The former Red Lion in Grants, New Mexico presents a compelling value-add opportunity in a market supported by consistent Interstate 40 traffic, government and contractor demand, and year-round outdoor tourism. Strategically located directly off I-40, the property benefits from exceptional visibility and convenient access, positioning it well for a variety of redevelopment strategies. Currently closed, the asset offers a true blank-slate opportunity for investors to reposition without operational disruption.

Potential pathways include rebranding and reopening as a hotel to capture transient and workforce demand, converting the property to affordable or workforce housing to address regional needs, or redeveloping it into market-rate apartments supported by the existing infrastructure and footprint.

The building features expansive common areas and flexible interior layouts that allow for creative reconfiguration and adaptive reuse, including the potential for additional revenue-generating components such as co-working space, community amenities, or service-oriented commercial uses.

Ownership is highly motivated and willing to work with qualified buyers to structure a transaction aligned with their business plan, including seller carry, lease-option arrangements, or other creative financing solutions - making the opportunity attractive to both experienced operators and value-add investors seeking scalable upside.

• Flexible Repositioning: Rebrand (Choice, Wyndham, Sonesta), convert to workforce housing, or redevelop to apartments.

• Prime I-40 Location: High visibility and direct interstate access.

• Ancillary Income Upside: Large common areas support co-working, retail, storage, or added amenities.

• Stable Local Demand: Energy, mining, construction, transportation, and government drivers.

• Vacant Value-Add: Renovate and reposition without operational disruption.

• Flexible Deal Structure: Seller open to creative financing.

• Underserved Housing Market: Strong affordable and market-rate demand; potential incentives.

• Compelling Basis: Attractive entry price with significant upside.