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SOLD! Beautifully Designed 10 Guest Room Bed and Breakfast For Sale In Thriving College Town Sold, Neo-Victorian style located in Northern, Colorado
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Price: $825,000
Property Features:
• Historic: No
• Year Built: 1997
• Years in Operation: 9 total
• Occupancy Rate: 39%
• Gross Revenue: $152,000 trailing 12
• Setting: City
• Lot Size: 1/2 Acre
• Square Feet: 7400
• Guest Rooms With Bath: 10
• Common Areas: Great Room
• Hot Tub: No
• Jacuzzi: Yes
• Fireplace: Yes
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Owners Quarters: Yes
• Separate Structure: No
• Bedrooms: 1
• Bath Rooms: 1
• Square Feet: Approx 1400
Property Description:
Located in a fast growing community, this bed and breakfast for sale enjoys a stable business oriented clientele. Nearly 50% of it’s revenues are derived from 2 of the largest employers in this thriving town of approximately 80,000. Serving the business market is great for innkeepers. It makes for less work, less wear and tear, and less risk to the income stream!
The property was designed and built in 1997 by a local architect who was one of the original investors, together with a group of local businessmen who recognized a shortage of upscale lodging in the downtown area. It’s a beautifully designed building both inside and out, with a wraparound verandah reminiscent of Victorian times. A gorgeous cantilevered staircase forms the main focal point of the interior space, rising up three stories to culminate just below a light-filled cupola. The location can’t be beat, and is within walking distance of the local university campus (one of Colorado’s largest), and the historic downtown district.
3 of the 10 luxurious en-suite guest rooms are situated on the first floor, with the remaining 7 on the second. All are appointed with distinct classic and country furnishings, new luxurious linens, cable TV, telephone, workdesk and high speed internet. A good deal of multi-purpose communal space covers the first floor, and several sets of French doors open out to the verandah and professionally landscaped grounds, a great place for small events.
Not a detail was missed when the light filled country style kitchen was designed, and it's been outfitted with a professional gas range with griddle and double dishwashers. The office adjoins the kitchen area, and is its own separate and functional space.
At the end of the day, owner’s escape to their private third floor retreat, where a Jacuzzi tub awaits. A good deal of space for the innkeepers has been set aside for their needs, and is configured with a living room, bedroom, bath, large walk-in closet and an additional space that has been plumbed to outfit a kitchen.
Additional features of the property include an historic carriage house that was part of the original 1890’s homestead and a large basement area which provides a plethora of storage, always at a premium at inns!
The operating history of the inn has been impacted by its closure in late 2004. Reopened in February 2006 the local residents and patrons of the downtown area have welcomed it with open arms, and the occupancy figures have been steadily climbing. By summer's end, the inn should be considered investment grade. There is an extensive amount of past operating history available about this inn, along with its business tax returns, always an important component for financing purposes.
There is an assumable SBA 504 below market fixed interest rate loan at approximately 5.5%available on the property.
Area Attractions:
Things to Do
University of Colorado
Banner Health
Highland
Hills Golf Course
Outlet Mall
Price: $825,000
Contact:
• Roxanne Kolbe/Becky Goldsmith
• Cell Phone: 720-979-3184, 303-916-8660
• Fax: 720-746-2858
• becky@innmatchmakers.com, roxanne@innmatchmakers.com
About the Brokers
Roxanne Kolbe and Becky Goldsmith are experienced inn brokers in Colorado who have helped many inn buyers and innkeepers realize their dreams. Considered one of the top inn broker teams in the country, each year the duo successfully brokers a number of speciality hospitality properties.
Their combined skill sets make a terrific package. Roxanne has nearly 30 years experience in national sales and marketing, financial analysis, and real estate brokerage. Becky spent the bulk of her career in the hospitality services, and transitioned into real estate brokerage about 7 years ago.
The team has represented buyers, sellers (or both!) in the following list of bed and breakfast inns for sale:
The Hardy House (renamed the All Aboard Inn), Georgetown
Climbing Cub, Divide
The Sodbuster Inn, Greeley
2300 Downing Street, Denver
The Cascade Escapes (renamed the Blue Spruce Inn), Cascade
Willow Pond Bed & Breakfast, Grand Junction
The Ice Palace Inn, Leadville
River Spruce Cottages, Estes Park
The Western Skies, Keystone, CO
The Abriendo Inn, Pueblo, CO
The Sodbuster Inn, Greeley, CO (resale)
The Anniversary Inn, Estes Park
6667 Highway 36, Estes Park (conversion)
Lease Options
The Plains Hotel, Cheyenne Wells
The All Aboard Inn, Georgetown
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© 2008 InnMatchmakers.com
Phone: 303-916-8660 • Phone: 720-979-3184 • Fax: 720-746-2858
8968 N. Awl Road •
Parker, CO 80138
contact@InnMatchmakers.com
Wednesday, August 20, 2008 - Under License by the12volt.com®
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