Shree Gajanan LLC

Description

BY ORDER OF U.S. BANKRUPTCY COURT
34-ROOM MOTEL IN FARMINGTON, NEW MEXICO
CASE #23-00002-RLM-7A
SHREE GAJANAN LLC

Gallivan has been engaged by the Trustee to sell Shree Gajanan LLC, the corporation which owns and operates a 34-room motel located at 652 E. Main St., Farmington, New Mexico. The motel is currently branded under the Travelodge by Wyndham banner.

Farmington, at an elevation of 5,306 feet, has a population of approximately 45,000 and is in the northwest corner of New Mexico. It is a center for outdoor, fishing, and cultural activities. Farmington is within 100 miles of most of the Southwest’s finest Native American artists and craftsmen. Trading posts and pawn shops which deal with Indian artists are numerous. Many are operated by 4th and 5th generation traders.

Shree Gajnanan LLC is incorporated in New Mexico. The corporation has only one asset, which is the motel. There are no lawsuits or judgments against the corporation.

Features of the property include:
The motel is situated on a 1.5-acre lot.
Owner/Manager suite – 2BR, 1 BA with kitchen & LR.
Large storage area (approx. 2,000 SF), former restaurant which can be converted to additional rooms.
9 Single King Rooms
13 Single Queen Rooms
12 Double Queen Rooms (One room is currently used for laundry).
Guest laundry.

The last complete renovation (plumbing, electrical, fixtures & furniture) was completed in 2010.
New bedding in 2021.
Built in 1958.
Property taxes in 2023 were $3,540.00.

The Travelodge franchise can be transferred to the new owner for a small transfer fee.

The property may also be converted to efficiency housing.

Asking Price: $1,200,000

Photos may be found on our website at www.njgallivan.com
For financials and other documentation, contact Norm Gallivan at norm@njgallivan.com