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8828 Colfax Ave Denver, CO 80220

Sponsored
For Sale
$1,050,000

14-Unit Motel, High ROI Potential

Property size:
4,188 SF

Description

Added:
Dec 11, 2024
Days on Market:
402
This exceptional 14-unit motel, located at 8828 E Colfax Ave in Denver, Colorado, presents a compelling investment opportunity. The property boasts 4,188 square feet on a 0.14-acre lot, currently operating as the La Rue Motel. Priced at $1,050,000 ($250.72/sq ft), it offers a strong projected net operating income (NOI) of $148,837.57 for 2024, resulting in a 14.18% capitalization rate. The property benefits from a high-traffic location on East Colfax Avenue, providing excellent visibility and accessibility to downtown Denver and major transportation routes. Recent renovations include a complete electrical service upgrade. Five units feature kitchenettes, and on-site manager quarters are included. A billboard on the premises generates additional annual income of $3,300. The property's 2023 property taxes totaled $3,331.90. Its proximity to public transportation (bus stop within walking distance), local attractions, and ongoing neighborhood development and revitalization efforts further enhance its investment appeal. This established motel offers stabilized income and significant potential for future growth. The property's history as part of Colfax Main Street adds to its unique character and value.

Property Features for 8828 Colfax Ave

General Information

Property type
Motels
Square Feet
4,188 SF
Lot Size
6,098 SF

Property Profile Location Intelligence

Current Use by Public Records

La Rue Motel Motel

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Denver
County
Denver
State
Colorado
Longitude
-104.8851469
Latitude
39.7399984

FAQs

What type of property is this?
Motel - 14-Unit Motel, High ROI Potential
Where is this motel located?
The property is located at 8828 Colfax Ave Denver, CO.
What is the asking price?
The asking price for this property is $1,050,000.
More about this property
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