505 Main St Cortez, CO 81321-3319
This exceptional hospitality investment opportunity presents a thriving Super 8 by Wyndham hotel located at 505 E Main St, Cortez, CO 81321. Priced at $4,650,000, this property offers significant return potential due to its strategic location in the heart of Cortez, conveniently situated off Highway 160. The hotel provides easy access to numerous area attractions, making it an ideal base for exploring the region's natural beauty and cultural heritage. Guests can easily reach Mesa Verde National Park, renowned for its ancient Pueblo cliff dwellings and archeological sites, and immerse themselves in the local Pueblo culture at the Cortez Cultural Center. Recreational opportunities abound, with nearby golfing at Conquistador Golf Course, gaming and entertainment at Ute Mountain Casino, and water activities at McPhee Lake. The hotel's position between the Rocky Mountains and the Colorado desert further enhances its appeal to a diverse range of travelers. This turnkey operation presents a compelling investment opportunity in a vibrant and growing market, offering strong potential for continued success and profitability. The property's central location and proximity to major attractions ensure consistent occupancy and revenue generation. This is a rare chance to acquire a well-established hotel in a desirable location with significant upside potential.
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Super 8 by Wyndham Cortez/Mesa Verde Area Hotel & Motel
C General Commercial District NB Neighborhood Business District I Industrial O Open District PUD Planned Unit Development Section 3.03 Residential Zone Districts Cortez Land Use Code Update Chapter 3 | Page 3-3 Cortez Land Use Code thereof. Where uncertainty exists as to the boundaries of districts as shown on the Official Zoning Maps, the following rules sh…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
C · Cortez, COC General Commercial District NB Neighborhood Business District I Industrial O Open District PUD Planned Unit Development Section 3.03 Residential Zone Districts Cortez Land Use Code Update Chapter 3 | Page 3-3 Cortez Land Use Code thereof. Where uncertainty exists as to the boundaries of districts as shown on the Official Zoning Maps, the following rules shall apply: 1. Boundaries indicated, as approximately following streets, highways or alleys shall be construed to follow the centerline of such street, highway or alley. 2. Boundaries indicated, as approximately following platted lot lines shall be construed as following such lines. 3. Boundaries indicated, as approximately following City limits shall be construed as following City limits. 4. Boundaries indicated as approximately following the centerline of irrigation ditches or drainage ways shall be construed to follow such centerline. 5. Boundaries indicated as parallel to or extensions of features indicated in this Subsection shall be so construed. Distances not specifically indicated on the original zoning map shall be determined from the graphic scale on the map. 6. Whenever any street, alley, or other public way is vacated by official action of the City Council, the zoning district line adjoining each side of such street, alley or other public way shall be automatically extended to the centerline of such vacated street, alley or way, and all area so involved shall then and henceforth be subject to all regulations of the extended districts. 3.02.3 Zoning of Annexed Territory. A. All territory hereafter annexed to the City shall apply for the appropriate Zone District at the time of annexation per the procedure established by this Code for Zoning Amendments. B. All City approvals, such as a site development plan or building permit, must be obtained before construction. 3.03 Residential Zone Districts 3.03.1 Purpose. A. Residential Zone Districts. In order to secure for the persons who reside there a comfortable, healthy, safe, walkable and pleasant environment in which to live, sheltered from incompatible and disruptive activities and to encourage a diversity of housing options, the following residential districts are established. B. Zone Districts 1. Residential Estate District (RE) - Legacy Zone District 2. Residential Single-Family District (R-1) 3. Residential Multi-Family District (R-2)
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
