500 7th St Leadville, CO 80461-3133

Property Details for 500 7th St

Year built

1970

Construction

WOOD

Lot size

0.06 lot acres

Property size

4,720 SF

Zone code

R2

Property type

Hotels

Property subtype

Motels

APN

263324307008

APU

263324307008

Description

This exceptional 14-key hotel in Leadville, Colorado, presents a compelling investment opportunity. The property, comprised of two buildings totaling 7,587 square feet on a 10,752 square foot lot, boasts a diverse mix of accommodations, including dorm-style and private ensuite rooms, catering to a wide range of travelers. The main building features 11 rooms, while the second building, recently remodeled, adds 3 more. Guest amenities include two family rooms, a spacious kitchen, a dining room, and a coin-operated laundry room (two washers and two dryers). An on-site manager's apartment and employee laundry facilities (one washer and one dryer) are also included. Heating is a combination of furnace and electric, with one new furnace in the main building. Ample off-street parking is available. The property's strong financial performance is highlighted by a current NOI of $221,729 and a pro-forma NOI of $247,406, translating to a current cap rate of 14.78% and a pro-forma cap rate of 16.49%. Built in 1970, this well-established hotel benefits from a prime location in Leadville, close to renowned ski resorts, ensuring year-round recreational opportunities and high demand for affordable lodging. The asking price is $1,500,000, representing a price per key of $107,142.86. This presents a rare chance to acquire a profitable hospitality asset with significant upside potential in a thriving Colorado mountain town.

Location Insight

City

Leadville

County

Lake

State

Colorado

Longitude

-106.285

Latitude

39.2514

CBSA code

20780

CBSA name

EDWARDS, CO MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments