2505 6th St - Hospitality FOR SALE


Limon, CO 80828
$2,400,000 USD
720-300-2942
2505 6th St, Limon, CO for Sale
$2,400,000 USD
Hospitality - FOR SALE
1/20
null | 14.39% Cap Rate

2505 6th St
Limon, CO 80828


HIGHLIGHTS

  • Tons of parking for trucks and cars in hotel lot and in front of property on the street
  • Largest Pool and Gym of any hotel in Limon
  • Highest Signage of any hotel in Limon

OVERVIEW

Incredible investment opportunity for hotel owner/operator at an extremely discounted price. Originally purchased for $2.9M in October of 2019. Currently listed for less than 3 times projected revenue. This property when performing at its relevant capacity should fetch a 3.5-3.8 times multiple of revenue upon exit. This property has extremely underperformed as a result of lack of capital to have all rentable rooms online .Over the last 3 years the average room count online has been 32 of the 48 rentable rooms. The hotel has rented 65% of rooms online which is what the average is for comparable hotels in Limon, CO. The shortfall of revenue is due to a lack of approximately 16 rooms being offline. This property should consistently create revenue in the $800k-$900k annual range and has exceeded these targets in its prime years. $841k and $1.014M. The Baymont is only 1 of 2 Wyndham properties in Limon, CO previously there were two others-Microtel which transitioned to a Best Western and Super 8 which has permanently closed down. These facts lend themselves to 2025 and forward providing the springboard to a greater opportunity than over the last 5 years with a reduction in room count in Limon and fewer Wyndham properties to compete within the Wyndham Rewards program. Owner is open to outright purchase or staggered investment starting with $200k in initial investment, $100k to be used initially for room and property improvement and $100k for operating capital. Owner can be flexible in terms. Investor will be required to be added as a guarantor on the $2.2M SBA loan or can provide alternative funding if preferred. Owner is very motivated to bring in an owner/operator and plans to move quickly on this transaction. This property is for sale by owner.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$86 USD /SF

# OF ROOMS

50

PRICE/ROOM

$48,000 {currency}

CAP RATE

14.39%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Baymont Inn & Suites Limon

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2001

PARKING SPACES

77

LAND DETAILS

LAND ACRES

2.33 AC

LAND SF

101,495 SF

ZONING

R3

APN/PARCEL ID

258518230103

ASK ABOUT THIS PROPERTY

Jerry KukuchkaV2K International, Inc.More Info
720-300-2942

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Jerry KukuchkaV2K International, Inc.More Info
720-300-2942

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.