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Property profile & analytics
OFF-MARKET Estimated value $2,575,000
Motels

123 Manitou Ave Manitou Springs, CO 80829-2426

2,494 SF 2.18 ac lot Built 1937
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US13-0867495
Property summary
AI-generated overview

This exceptional 2.18-acre commercial land parcel presents a rare development opportunity in Manitou Springs, Colorado. Located at 123 Manitou Ave, this highly visible site boasts a prime location between the Broadmoor and Garden of the Gods neighborhoods, benefiting from significant daily traffic along Highway 24 and Manitou Avenue. The property is zoned C-Commercial, allowing for diverse development options. Environmental remediation is complete, and the site has been rough-graded. Utilities, including water (two existing service lines), sewer, gas, and electricity, are stubbed to the property. Two existing curb cuts on Manitou Avenue provide convenient access. The property also includes two existing monument signs, one on Manitou Avenue and a grandfathered sign on Highway 24, offering significant advertising potential. The owner is open to various transaction structures, including ground lease (preferred), build-to-suit, or outright sale. The parcel may be considered for division. This is an unparalleled chance to capitalize on a highly desirable location with significant infrastructure already in place. Buyer or lessee is responsible for verifying site conditions. APN: 7404411024.

Property profile
Verified
Property type Motels
Use group MOTEL
Year built 1937
Construction WOOD FRAME
Total area 2,494 SF
Lot 2.18 ac (94,961 SF)
Zoning code C
APN 7404411024
UPID US13-0867495
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$2.59M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.58M
Owner & transaction history
Paragon Manitou Gardner LLC · 3 yrs held
Paragon Manitou Gardner LLC
since 2022
Last sale
$2.6M
6 recorded transactions
2022
$2.6M
2019
$1.9M
2018
$1.5M
2005
Price N/A
2000
Price N/A
1969
Price N/A
Zoning & alternative use
C · Manitou Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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