221 Byers Ave Fraser, CO 80468
- Hospitality properties
- 6,072 SF
- 0.42 lot acres
Current Use by Public Records
- Hospitality properties
Property Details for 221 Byers Ave
- Year built
- 1950
- Lot size
- 0.42 lot acres
- Property size
- 6,072 SF
- Property type
- Hospitality properties
- Property subtype
- Motels
Description
This charming 14-key motel, nestled in the heart of Hot Sulphur Springs, Colorado, presents a unique investment opportunity. Built in 1950 and renovated in 2021, this 6,072 square foot property sits on a 0.42-acre lot and boasts a 12.16% cap rate based on historical financials. The property includes 16 parking spaces and is zoned T1 - Tourists, perfectly positioned to capitalize on the area's thriving tourism industry. Located near the renowned Hot Sulphur Springs Resort and Spa (day passes available), the motel benefits from its proximity to Winter Park Resort (a top 40 US ski resort) and Rocky Mountain National Park, attracting a steady stream of visitors. The motel also features on-site owner's quarters, which can be rented separately as an apartment, adding to its income potential. With its prime location less than 100 miles from Denver and significant value-add potential (including the possibility of adding a restaurant), this property offers a compelling combination of established income and future growth opportunities. The property's historical financials support the attractive 12.16% cap rate, and the price per key is $128,214.29. This is a rare chance to acquire a well-maintained, profitable motel in a highly desirable Colorado mountain location. The asking price is $1,795,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fraser
- County
- Grand
- State
- Colorado
- Longitude
- -106.103
- Latitude
- 40.073
