This property is under contractCanyon Motel
Property Details
| Sale Price: | |
| Sale Price: | $1,595,000 |
| Cap Rate (2021-2023 Average): | 14% |
| Keys; $/Key | 14; $113,928 |
| Broker of Record: | Michael A. Corbey with Realspace CommercialReal Estate, LLC |
Property Description
SVN | Northco is pleased to present, as exclusive advisor to ownership, the sale of the Canyon Motel, which is a charming and historic 14-unit motel that is located in Hot Sulphur Springs, Colorado, in close proximity to Winter Park, a world-class ski resort and recreation destination ("Property"). This Property is nestled in the Rocky Mountains along a Colorado Scenic Byway on US Highway 40.
There are many attractions in and around Hot Sulphur Springs, including the Hot Sulphur Springs Resort and Spa (day passes are available for guests of the Canyon Motel), the aforementioned Winter Park (Resort), Granby Ranch Ski Area, the Colorado Adventure Park, and much more.
Colorado is major draw for adventure-seekers throughout the globe, and brings in nearly 90 million visitors a year (2019 estimate).
Highlights
- Offered at a 14.0% cap rate based on historical financials with significant room for growth
- 14 room exterior-corridor motel in the popular tourist destination of Hot Sulphur Springs, Colorado; owner's quarters are also available on-site (and can be rented separately as an apartment if desired)
- The Property is in close proximity to Hot Sulphur Springs Resort, which offers day passes to its 24 famous hot springs that are within walking distance. Many consider these hot springs to be the best in Colorado.
- The Property is only 30 miles from the popular tourist destination of Winter Park, Colorado, which was ranked as a top-40 US ski resort in Conde Nast's 2021 Reader's Choice Awards. The Property is also 30 miles from the western entrance to Rocky Mountain National Park
- The Property is located less than 100 miles from Denver, CO
- Outstanding value-add potential, including significant top-line revenue that can be generated by the addition of a restaurant
- Broker of Record: Michael A. Corbey with Realspace Commercial Real Estate, LLC
Map
Location Description
Hot Sulphur Springs, Colorado is nestled in the Rocky Mountains, located in Grand County between Granby and Kremmling. The town is approximately 100 miles from both Boulder and Denver, Colorado, and is 30 miles northwest of the world-renowned outdoor recreation destination of Winter Park. The town is known for its mineral-rich natural hot springs, stunning scenery, and relaxed atmosphere. This brings in visitors from Winter Park and elsewhere, making the town a destination for outdoor enthusiasts year-round.
There are many attractions in and around Hot Sulphur Springs, including the Hot Sulphur Springs Resort and Spa (day passes are available for guests of the Canyon Motel), the aforementioned Winter Park (Resort), Granby Ranch Ski Area, the Colorado Adventure Park, and much more.
Colorado is a major draw for adventure-seekers throughout the globe, and brings in over 93 million visitors a year (2023 estimate).
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Offering Memorandum - Canyon MotelAll Documents
Access Documents| 30 Miles | 60 Miles | 120 Miles | |
|---|---|---|---|
| Total households | 11,045 | 131,680 | 1,904,861 |
| Total population | 29,063 | 325,711 | 4,860,005 |
| Population white | 94.8% | 91.8% | 83.0% |
| Population black | 0.3% | 0.5% | 4.0% |
| Population hispanic | 9.3% | 10.4% | 19.9% |
| Population asian | 1.2% | 2.6% | 3.1% |
| Population pacific islander | 0.0% | 0.1% | 0.1% |
| Population american indian | 0.1% | 0.4% | 0.8% |
| Population other | 2.0% | 2.7% | 6.0% |
| Persons per household | 2.6 | 2.5 | 2.6 |
| Average household income | $77,062 | $88,744 | $81,210 |
| Average house value | $332,604 | $497,955 | $327,701 |
| Average age | 38.7 | 36.7 | 36.7 |
| Average age male | 38.9 | 36.2 | 36 |
| Average age female | 39.1 | 37.6 | 37.5 |
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