620 Colorado Ave Colorado Springs, CO 80905
- Motels
- 1,680 SF
- 0.70 lot acres
Current Use by Public Records
- Springs Inn / Inn
Property Details for 620 Colorado Ave
- Year built
- 1930
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.70 lot acres
- Property size
- 1,680 SF
- Zone code
- C6
- Property type
- Motels
- APN
- 7413126015
- APU
- 7413126015
Description
The Springs Inn, a well-maintained, totally renovated (2023-2024) motel, presents a compelling investment opportunity in the heart of Colorado Springs, CO. This 2-story, solid brick building boasts 29 keys, providing substantial rental income potential. Located at 620 W Colorado Ave, 80905, the property enjoys a prime location within walking distance of downtown Colorado Springs. The substantial building size of 20,806 square feet sits on a generous 30,275 square foot lot, offering ample space and potential for future expansion or development. The property includes a manager's living quarters, adding to its operational convenience. The asking price for this exceptional hospitality asset is $1,800,000. This turnkey operation is ready for a new owner to step in and continue its success. Its strong location and recent renovations make it an attractive investment for those seeking a profitable venture in a thriving Colorado Springs market. The property's solid construction and ample space contribute to its long-term value and potential for increased profitability. This is a rare opportunity to acquire a well-established and highly profitable motel in a desirable location. The Springs Inn offers a blend of immediate income generation and significant long-term growth potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,585,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,795,000
- 6.5%
- $1,860,000
- 7%
- $1,810,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,730,000
- Geo Method
- $1,595,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,855,000
- Retail
- $1,785,000
- Mixed-Use
- $1,995,000
- Hospitality
- $1,705,000
- Educational
- $1,605,000
- Residential Income
- $1,540,000
- Energy
- $1,905,000
- Income-Based Land
- $1,860,000
- Food Service
- $2,035,000
Location Insight
- Map
- Local Demand
- City
- Colorado Springs
- County
- El Paso
- State
- Colorado
- Longitude
- -104.837
- Latitude
- 38.8332
- CBSA code
- 17820
- CBSA name
- COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA
