229 Manitou Ave Manitou Springs, CO 80829-2503

This exceptional 38-room, three-story hotel presents a rare investment opportunity in the vibrant Manitou Springs, Colorado. Located at 229 Manitou Ave, this 15,310 square foot property boasts a prime location less than a mile from downtown and renowned attractions like Garden of the Gods and the Manitou Incline, ensuring consistent high occupancy rates. Built in 1990 and extensively renovated in 2022-2023, the hotel offers a blend of classic charm and modern amenities. The property includes 38 parking spaces for guest convenience. Financial records demonstrate a strong track record of increasing income, occupancy, and consistent capital improvements. The 2022 financial performance shows a Net Operating Income (NOI) of $404,273, Effective Gross Revenue (EGR) of $459,304, and expenses of $112,022. In 2023, the NOI was $392,866, EGR was $399,394, and expenses were $97,410. This established hotel benefits from its proximity to Manitou Springs' historic downtown, featuring art galleries, restaurants, and live performances, as well as other popular attractions such as Pikes Peak races, Cave of the Winds, and the unique mineral springs. The asking price is $2,650,000, representing a compelling investment opportunity in a thriving tourist destination. The property offers a strong return on investment with a proven history of success.