Current Use by Public Records
- Hospitality properties
Property Details for 37760 Us-50
- Year built
- 1963
- Lot size
- 1.80 lot acres
- Property type
- Hospitality properties
- Property subtype
- Motels
Description
This exceptional investment opportunity presents the Rodeway Inn, a 37-key hotel and motel in Gunnison, Colorado. Boasting 16,255 square feet across two one-story buildings on a 1.801-acre lot, this property offers significant potential. Built in 1963 and extensively renovated in 2022, the inn features updated amenities including new water heaters, plumbing in the main building, a commercial washer, fresh linens, and updated decor. Guest services include a hot tub, laundry facilities, a business center, and vending machines. The property's convenient location just off US Highway 50 provides easy access to area attractions, including the Gunnison-Crested Butte Regional Airport (4 miles), Western State Colorado University (1 mile), and the Gunnison Valley Hospital (1 mile). The Rodeway Inn benefits from its affiliation with the Choice Hotels brand. Financial performance shows strong growth, with room revenue increasing from $810,130 in 2021 to $1,040,098 in 2023. Occupancy rates have also risen steadily, reflecting the property's appeal. Furthermore, the property includes two employee housing units, adding to its operational efficiency. The property is zoned Econ Area 1 - Mixed Use, offering flexibility for future development. This turnkey operation is priced at $3,693,000 ($227.19/sq ft) and presents a compelling return on investment in a vibrant Colorado mountain community. The property's location offers access to numerous recreational activities, including skiing, hiking, fishing, and more, attracting a diverse range of visitors throughout the year.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Gunnison
- County
- Gunnison
- State
- Colorado
- Longitude
- -106.959
- Latitude
- 38.5287
