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    2105 Platte Ave Colorado Springs, CO 80909

    Sponsored
    For Sale
    $1,990,000

    Profitable 21-key motel with apartment.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This well-maintained, 21-unit motel in Colorado Springs, Colorado presents a compelling investment opportunity. Built in 1929 and located at 2105 E Platte Ave, zip code 80909, this independent property boasts a strong rental history. The asking price is $1,990,000. The property includes a manager's living quarters, a significant advantage for operational efficiency and oversight. This spacious apartment comprises 1,624 square feet, featuring two bedrooms and two bathrooms, and currently generates a monthly rental income of $2,000. Adding to the property's income potential are 88 storage units, providing additional revenue streams. Situated in El Paso County, the motel benefits from a prime location in Colorado Springs. The property's solid history, combined with the income-generating apartment and storage units, makes it an attractive prospect for investors seeking a stable and profitable hospitality investment. Detailed financial records are available upon request. This is a turnkey operation ready for a new owner to step in and continue its success. The property's age adds to its character and charm, while its well-maintained condition ensures immediate operational readiness.

    Property Features for 2105 Platte Ave

    General Information

    Property type
    Motels

    Building Details

    Year Built
    1929

    HighLights

    • 21‑unit motel in Colorado Springs, CO, located at 2105 E Platte Ave, zip code 80909.
    • Asking price: $1,990,000.
    • Includes a 1,624 sq ft, 2 bed/2 bath manager's apartment generating $2,000 monthly rental income.
    • Features 88 additional income‑producing storage units.
    • Built in 1929, well‑maintained, and offers strong rental history.
    Property Profile Location Intelligence

    Current Use by Public Records

    True North Motel ... Hotel STEPPIN N.SILENCE Import Export Company

    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
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.7892119
    Latitude
    38.8369037

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    FAQs

    What type of property is this?
    Motel - Profitable 21-key motel with apartment.
    Where is this motel located?
    The property is located at 2105 Platte Ave Colorado Springs, CO.
    What is the asking price?
    The asking price for this property is $1,990,000.
    What are key features of this property?
    This property features: 21-unit motel in Colorado Springs, CO, located at 2105 E Platte Ave, zip code 80909.; Asking price: $1,990,000.; Includes a 1,624 sq ft, 2 bed/2 bath manager's apartment generating $2,000 monthly rental income.
    Request Owner's contact information
    2105 Platte Ave Colorado Springs, CO 80909
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    Colorado Springs, CO 80909
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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
    2105 Platte Ave Colorado Springs, CO 80909
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