220 W Manhattan Ave

Description

The Parador, a boutique hotel with a rich history located in beloved Santa Fe, NM, an internationally prized destination in the Mountain Southwest. The Parador is filled with charm and once was a 200+ year old farm with a vibrant past, its undulating double adobe walls and unique and fully renovated rooms give this property an edge in the market. It is tucked away on West Manhattan St and walking distance to the Plaza, Canyon Road and the Railyard District. The hotel offering has 12 rooms, some of which have Juliet balconies and beamed ceilings and kiva fireplaces. The Parador hotel has a commercial kitchen and a lovely courtyard for dining and entertainment. The hotel is offered a a 12% cap rate. The Parador was lovingly renovated and restored by renowned designers who acquired it in 2018. Care has been taken to respect the building's authenticity, revealing its history while incorporating heirloom quality and contemporary style. The owners have spent the last years renovating, reconstructing and rebranding the assets. The Farmhouse was built at the turn of the 19th-century when New Mexico was still under Spanish rule. The double adobe structure served as a family home for over a century and a half, undergoing its first remodel in the early 1900's with Victorian details added throughout the home. In the 1960's, at the peak of the Rainbow Coalition's gatherings in the surrounding areas, the space became a religious commune at which point the barn and stables were adopted and transformed into living quarters. As a commune, all that were hungry or in need of a bed were welcome. It wasn't until the late 1970's that the second story was added in Northern New Mexico Territorial style; entering into its new life as an inn. The Parador is a wonderful property with a rich history that offers a wonderful opportunity to add more value and operate as a cash flowing hotel.