Cole & Company, Inc.
Phone: 970-335-9660
Motel Offering Affordable Lodging
- Listing Id: 5533
- Broker Name: Charlie Cole
- Category: Hotels and Motels
- Asking Price: $3,950,000.00
- EBITDA: $590,000.00
- Real Estate: $2,900,000.00
- Cash Flow: $299,915.00
- Inventory: $500.00
- No. Of Full-Time Employees: N/A
- No. Of Part-Time Employees: N/A
- Gross Income: $853,706.00
- FF&E: $50,000.00
- Year Built: N/A
- Address: Click Here
- Zip Code: Click Here
- City: Hermosa
- State: CO
- Country: United States
- Tenancy: Single
- Occupancy: N/A
- Lot Size: N/A
- Available: Yes
Description
Main Street Motel with a niche in affordable lodging. Consisting of 76 units with outside corridors, the property sits on a highly desirable main street, corner location in a scenic and growing Colorado mountain town. The business is operated on an absentee basis with an on site manager and offers nightly, weekly and monthly rentals to the budget conscious travelers. Consistently profitable in recent years and the seller believes there is ample room for revenue growth with a more active owner who manages rates, wages and other underperforming assets more effectively. One of the main attributes of the property is the long term potential of the site location.
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