1021 Grand Ave Glenwood Springs, CO 81601

Exceptional investment opportunity in Glenwood Springs, Colorado! This historic hotel, located at 1021 Grand Ave, presents a compelling value-add proposition. The property consists of two buildings, totaling 4,673 square feet, situated on a mixed-use zoned lot. The main building, constructed in 1910, and a rear building completed in 1994, offer a unique blend of historic charm and modern functionality. Currently operating as a hostel with 10 keys and 12 beds, the property boasts a strong rental history, including both short-term and long-term rentals. Summer bookings are already secured. The existing short-term rental approvals are transferable to the new owner. The property's current NOI is $130,000, with a pro-forma NOI of $135,000, yielding a 6.53% cap rate and a pro-forma cap rate of 6.78%, respectively. The asking price is $1,990,000, representing a price per square foot of $425.85 and a price per bed of $165,833.33. The business name and assets are included in the sale. The mixed-use zoning allows for diverse development opportunities, maximizing redevelopment potential. This presents a rare chance to acquire a well-established business with significant upside in a prime Glenwood Springs location. This property is a must-see for savvy investors seeking a high-return, value-add opportunity.