Historic Mountain Motel--Real Estate included in the asking price
Travel Businesses for Sale
- Primary Category: Motels for Sale
This independently owned, owner operated boutique motel is located in a mountain community in South Central Colorado. This long standing motel has been successfully operating for more than 70 years. Year around tourist trade accounts for the major portion of the business income. Two historic cottages are a highlight of this 'motor-court' style motel and are part of the locations National Historic District. Renovations and upgrades have kept this motel updated, yet the historic ambiance and charm remain. It is located within walking distance to town, encompasses 1.6 acres (14 city lots) on an entire block. Accommodations include twelve 290 Sq. Ft.guest rooms, and two cottages with 350 Sq. Ft. each. The two cottages were completely remodeled in 2017, and 2021. The property also includes a two story building with a second story, 725 Sq. Ft. one bedroom living quarter. The lobby, laundry, storage, and one bathroom are located on the first floor. The lobby has ample room for a gift and snack store.
Recreation is the primary reason for visiting the area. Seasonality does play a role in the success of the business, with 73% of its annual revenue being earned during the second and third quarters of each year. However, the motel is one of few that remain open year around to accommodate all visitors.
Financial Information
- $1,700,000 Asking Price
- $150,000 Cash Flow
- $275,000 Gross Revenue
- N/A Down Payment
Business Location
- City: Confidential
- State: Colorado
Reason for Sale
- Owner is retiring.
Detailed information
- Year Established: 1949
- Home Based: No
- Franchise: No
- Relocatable: No
- Lender Prequalified: No
- SBA Prequalified: No
- Full-Time Employees: 1
- Part-Time Employees: 1
- Contractors: N/A
- Owner Worked Hours/w: 40
- Adjusted EBITDA: N/A
- Inventory Included: No
- Inventory Value: N/A
- Monthly Rent: N/A
- Real Estate Available: Yes
- Real Estate Included: No
- Real Estate Value: $1,250,000
- Building Size: 5700
- FF&E Included?: Yes
- FF&E Value: $200,000
Training/Support
- Seller will provide all necessary training for a smooth transition of ownership
Facilities
- LOBBY AND LIVING QUARTERS • 1st story - lobby, storage, laundry, bathroom: 725 sq. ft • 2nd story living quarters: 725 sq. ft. 1 Bedroom, kitchen , living, dining , bath, and balcony. • Shed MOTEL • Mechanical Room: 85 sq. ft. • 12 guest rooms: 290 sq. ft. each; total = 3,480 sq. ft. • 1880's cottage: 395 sq. ft. + 90 sq. ft. porch • 1930's cottage: 350 sq. ft. + 80 sq. ft. porch
Market Outlook/Competition
- Several motels/lodges and a number of cabins and vacation rental properties are located in the area. The tourism trade is robust so competition is rarely a factor in renting the motel rooms as demand far exceeds supply in the high season. During winter accommodations dwindle among other lodging properties as they close due to the cold temperatures. This motel is one of a handful that remain open year around. Collaboration rather than competition exists amongst the open properties in winter.
Real Estate Description
- The real estate is included in the asking price. (A professional appraisal was conducted in April of 2022) The motel is built in "motor court" fashion, whereby connected rooms located in a single building with doors facing a common parking lot.
Business Listed by
Kevin Brooks
Sunbelt of Western ColoradoContact Business Broker
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