Historic Estes Park Lodge &
For Sale
$4,700,000
4900 Highway 7, Estes Park, CO 80517
Storied mountain property with restaurant, lodging, and outdoor recreation.
Property Size13,305 SF
Days on Market149
Property Features for 4900 Highway 7
General Information
Standard status
Active
Size
13,305 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$14,264
Building Details
Building Size
13,305 SF
Year Built
1920
Listing Agency:
Rocky Mountain Property Inc.
(970) 690-7762
Listed By:
Rainia K Derrington · License #100089102
(970) 690-7762
Source:
Elliman
Added: Apr 4
Changed: Aug 24
Last Checked: Aug 29 at 12:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rocky Mountain Property Inc.
Investment Insights
Based on property information with market context.
Seven Keys Lodge, a historic mountain property, offers the opportunity to own a piece of Estes Park history. The carefully preserved and thoughtfully maintained lodge and restaurant blend rustic Colorado character with welcoming hospitality. The lodge features inviting gathering spaces and a restaurant with mountain ambiance, honoring its heritage through historic preservation and unique architectural details. A beloved feature is the expansive covered porch overlooking the Estes Valley, where guests relax, dine, and take in mountain scenery and sunsets. Seven Keys Lodge is known for its intimate singer-songwriter showcases in the "Key Room". The lodge houses its historic key collection, a display that reflects decades of stories, travel, and tradition. Located in unincorporated Estes Park, the property is surrounded by protected lands, between Rocky Mountain National Park and the Roosevelt National Forest. Outdoor recreation includes hiking, wildlife viewing, and fishing. The property is located in a car-dependent area and is somewhat bikeable. It presents an opportunity to own a historic and income-producing Colorado mountain property. It can be envisioned as a continued hospitality business, retreat center, or legacy mountain investment.
Key Highlights
- Historic lodge and restaurant in Estes Park with established reputation and income potential.
- Breathtaking views** of Estes Valley and unforgettable sunsets from expansive covered porch.
- Ideally located between Rocky Mountain National Park and Roosevelt National Forest, offering access to outdoor recreation.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$143,306
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,866,120
$2.9M
Cap Rate 7%
$2,047,229
$2.0M
Cap Rate 9%
$1,592,289
$1.6M
Market Conditions
NOI Build-Up for 13,305 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$196.8K $14.79/SF
− Vacancy
−$5.7K −$0.43/SF
EGI
$191.1K $14.36/SF
− OpEx
−$47.8K −$3.59/SF
NOI
$143.3K $10.77/SF
Area
Larimer County, CO
Vacancy
2.90%
Lease Rate
$14.79 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,866,120
Cap Rate 7%
$2,047,229
Cap Rate 9%
$1,592,289
Alternative Uses
Best Use
Specialty Retail
$2.05M
$1.79M – $2.39M
NOI $143,306 @ 7.0% cap · market cap 3.05%
Second Best
Hotel Hospitality
$1.25M
$1.10M – $1.46M
NOI $87,688 @ 7.0% cap · market cap 1.87%
Theoretical Best
Office A
$3.57M
$3.12M – $4.17M
NOI $249,989 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 80517, CO
9,720
Population
7,043
Households
1.4
Avg Household Size
55
Median Age
55%
College-Educated
97%
High-School Grad
297.2 sq mi
ZIP Area
33
Density / Sq Mi
$89,659
Median Household Income
$40,919
Median Earnings
$1,451
Median Rent
$670,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Seven Keys Lodge — 4900 CO-7, Estes Park, CO 80517
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Storied mountain property with restaurant, lodging, and outdoor recreation.
Where is this bed & breakfast located?
The property is located at 4900 Highway 7 Estes Park, CO.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: Historic lodge and restaurant in Estes Park with established reputation and income potential.; Breathtaking views** of Estes Valley and unforgettable sunsets from expansive covered porch.; Ideally located between Rocky Mountain National Park and Roosevelt National Forest, offering access to outdoor recreation.
