60 Hickory Ave, Akron, CO 80720-1806

Property Details for 60 Hickory Ave

Year built

1980

Lot size

2.21 lot acres

Property type

Motels

APN

92036001006

APU

92036001006

Description

This exceptional investment opportunity in Akron, Colorado, presents a unique blend of hospitality and commercial space. The property, situated on 2.21 acres, encompasses a 12,000 square foot building complex, including a successful 17-unit motel (13 singles and 4 doubles). Each motel room features a private bathroom, essential amenities (nightstand, desk/table, lamps, microwave, mini-refrigerator, and TV), and is complemented by a recently remodeled lobby/lounge area with tile and wood flooring, a fireplace insert, coffee bar, and two ADA-compliant bathrooms. A separate, private 2-bedroom residence with a living room and kitchen is connected to the office/lobby, offering live-work potential. The property also boasts a substantial event center, featuring a large conference room with a full-size kitchen and a separate recreation/playroom, along with additional bathrooms. A professional office with a private entrance and bathroom is also available for rent. Further enhancing the property's versatility is a 1600 square foot heated and cooled shop with four garage doors, ample truck parking with electrical hookups, a commercial-grade washer/dryer, guest laundry facilities, and an ice machine. Built in 1980, this property is zoned Commercial/Industrial and offers a strong net operating income (NOI) of $165,978, resulting in an attractive 19.41% cap rate. The asking price is $855,000. This property presents a rare opportunity to acquire a thriving, multi-faceted business with significant income potential.

Location Insight

City

Akron

County

Washington

State

Colorado

Longitude

-103.201

Latitude

40.1581

Property Tax & Assessments