This independently owned, owner operated boutique motel is located in a mountain community in South Central Colorado. This long standing motel has been successfully operating for more than 70 years. Year around tourist trade accounts for the major portion of the business income. Two historic cottages are a highlight of this 'motor-court' style motel and are part of the locations National Historic District. Renovations and upgrades have kept this motel updated, yet the historic ambiance and charm remain. It is located within walking distance to town, encompasses 1.6 acres (14 city lots) on an entire block. Accommodations include twelve 290 Sq. Ft.guest rooms, and two cottages with 350 Sq. Ft. each. The two cottages were completely remodeled in 2017, and 2021. The property also includes a two story building with a second story, 725 Sq. Ft. one bedroom living quarter. The lobby, laundry, storage, and one bathroom are located on the first floor. The lobby has ample room for a gift and snack store.
Recreation is the primary reason for visiting the area. Seasonality does play a role in the success of the business, with 73% of its annual revenue being earned during the second and third quarters of each year. However, the motel is one of few that remain open year around to accommodate all visitors.
Facilities:
LOBBY AND LIVING QUARTERS
• 1st story - lobby, storage, laundry, bathroom: 725 sq. ft
• 2nd story living quarters: 725 sq. ft. 1 Bedroom, kitchen , living, dining , bath, and balcony.
• Shed
MOTEL
• Mechanical Room: 85 sq. ft.
• 12 guest rooms: 290 sq. ft. each; total = 3,480 sq. ft.
• 1880's cottage: 395 sq. ft. + 90 sq. ft. porch
• 1930's cottage: 350 sq. ft. + 80 sq. ft. porch
Real Estate Available: Yes
Real Estate Included: No
Real Estate Value: $1,250,000.00
Real Estate Description:
The real estate is included in the asking price. (A professional appraisal was conducted in April of 2022)
The motel is built in "motor court" fashion, whereby connected rooms located in a single building with doors facing a common parking lot.
Detailed Information:
Lender Prequalified: No
SBA Prequalified: No
Owner worked hours per week: 40
Is Going Concern: Yes
Market Competition: Several motels/lodges and a number of cabins and vacation rental properties are located in the area. The tourism trade is robust so competition is rarely a factor in renting the motel rooms as demand far exceeds supply in the high season. During winter accommodations dwindle among other lodging properties as they close due to the cold temperatures. This motel is one of a handful that remain open year around. Collaboration rather than competition exists amongst the open properties in winter.
