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    60 Hickory Ave Akron, CO 80720

    For Sale
    $855,000

    Profitable mixed-use property, 17 units.

    Property size:
    12,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional investment opportunity in Akron, Colorado, presents a unique blend of hospitality and commercial space. The property, situated on 2.21 acres, encompasses a 12,000 square foot building complex, including a successful 17-unit motel (13 singles and 4 doubles). Each motel room features a private bathroom, essential amenities (nightstand, desk/table, lamps, microwave, mini-refrigerator, and TV), and is complemented by a recently remodeled lobby/lounge area with tile and wood flooring, a fireplace insert, coffee bar, and two ADA-compliant bathrooms. A separate, private 2-bedroom residence with a living room and kitchen is connected to the office/lobby, offering live-work potential. The property also boasts a substantial event center, featuring a large conference room with a full-size kitchen and a separate recreation/playroom, along with additional bathrooms. A professional office with a private entrance and bathroom is also available for rent. Further enhancing the property's versatility is a 1600 square foot heated and cooled shop with four garage doors, ample truck parking with electrical hookups, a commercial-grade washer/dryer, guest laundry facilities, and an ice machine. Built in 1980, this property is zoned Commercial/Industrial and offers a strong net operating income (NOI) of $165,978, resulting in an attractive 19.41% cap rate. The asking price is $855,000. This property presents a rare opportunity to acquire a thriving, multi-faceted business with significant income potential.

    Property Features for 60 Hickory Ave

    General Information

    Property type
    Distribution properties
    Square Feet
    12,000 SF
    Lot Size
    96,268 SF

    Building Details

    Year Built
    1980
    Buildings
    2
    Units
    17

    HighLights

    • 12,000 SF Total Building Area
    • Built in 1980
    • Commercially/Industrially Zoned
    • Live/Work Commercial/Industrial Use, Washington County
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Natural Resource Conservation Conservation Department Gemma's Crossing Motel

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Washington
    State
    Colorado
    Longitude
    -103.20118140259
    Latitude
    40.158234658628

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    FAQs

    What type of property is this?
    Distribution property - Profitable mixed-use property, 17 units.
    Where is this distribution property located?
    The property is located at 60 Hickory Ave Akron, CO.
    What is the asking price?
    The asking price for this property is $855,000.
    What are key features of this property?
    This property features: 12,000 SF Total Building Area; Built in 1980; Commercially/Industrially Zoned
    Request Owner's contact information
    60 Hickory Ave Akron, CO 80720
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    60 Hickory Ave Akron, CO 80720
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