$3,500,000

A unique development opportunity in Raton New Mexico…the Historic Palace Hotel built in 1896 by Scottish stone masons are now available. This property spans 13,440 square feet within Raton’s well known historic and art district. Perfectly situated downtown, directly across from the Amtrak station, the location offers significant potential. It is ground zero for community events. Beautiful alpine surroundings and unobstructed views of Johnson Mesa make downtown Raton a true destination, and the price per square foot remains extremely competitive for the area. A key feature of the property is the Stakeout Restaurant. An upscale, well-equipped restaurant and bar with a strong reputation and steady business through 2023. With a 240+ seating capacity, the Stakeout Restaurant is complete with a fully equipped, state-of-the-art kitchen, 2 fireplaces, a pool room, a performance stage and 6 restrooms. It is ideally positioned for a new lessee. Alternatively, to nightly F and B sales, the Palace has 2 adjoining apartments (in the Haven). These apartments are large, well decorated rooms with a strong rental history. The third floor is unfinished. There is an architectural plan that features six additional hotel rooms, and a day spa. The Haven Hotel, adjoining the Palace, has additional retail space and currently houses a popular art gallery by well-known local artist, Carl Swanson. This is a one-of-a-kind opportunity to own a significant piece of Southwestern History. Contact us for more information or to schedule a viewing.