Historic Motel near World-Class Recreation Destination of Winter Park, CO: Canyon Motel

221 Byers Avenue Hot Sulphur Springs, CO 80451

221 Byers Avenue, Hot Sulphur Springs, CO, 80451
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FOR SALE
Property Type:
Motel
Amount:
$1,595,000
Last Verified:
Dec 04, 2024

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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

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).

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).


Year Built: 1950
Building Size: 6072sq ft
Lot Size: 0.42 acres


Documents

Offering Memorandum - Canyon Motel

Map of 221 Byers Avenue, Hot Sulphur Springs, CO, 80451

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.