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$799,000 Price Reduced and back on market on Profitable Grand Lake Inn and RestaurantInvestment Grade, Lodge style located in Northern, Colorado
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Property #159
Price: $799,000
Click here to request more
information about this property.
Property Features:
• Historic: No
• Years in Operation: 10
• Gross Revenue: 278,000
• Percent Furnished: 100
• Setting: Mountain Lake
• Guest Rooms With Bath: 4
• Common Areas: Dining Room/Bar
• View Images
• Virtual Tour
Owners Quarters: Yes
• Separate Structure: No
• Bedrooms: 2
• Bath Rooms: 2
• Square Feet: 1000
Special Financing Available:
• Seller Carry: Yes
• Lease Option: Yes
Property Description:
PRICE SLASHED!
Grand Lake Terrace Inn is an upscale dinner service Inn with 4 guest rooms located in the heavily touristed town of Grand Lake, just 2.5 hours west of Denver. This is a well managed, mature business with stable revenues and repeat clientele. 2009 year to date income is ahead of last year.
The building consists of a dining/bar area, kitchen, and chef's quarters on the first floor. There is some limited basement storage, and a small outbuilding also used for storage. The second floor houses the guest rooms, tw of which are modestly sized. The third guest rooom is very spacious and the fourth is a two bedroom apartment which could be used as the owner's quarters, and is a light filled open floorplan with its own private outdoor patio/deck.
The business has been professionally evaluated, and the real estate has been appraised and valued accordingly.The restaurant is the business's main source of revenue, accounting for 85% of total revenues. Under the same ownership for the past 10 years, the inn has a resident chef. The owners are responsible for front of the house activities, and the restaurant enjoys a fine reputation and is one of the best dining options in Grand Lake.
About the Area
The inn is located on the main street, just a block for the lakeshore. 2.5 hours west of Denver, Grand Lake is the deepest lake in Colorado, and is a terrific place for summer watersports. It is also just minutes from an entrance to Rocky Mountain National Park, Colorado's biggest tourist attraction, with more than 3 million visitors per year.
As an added bonus, the property is just 37 miles from the world class ski resort of Winter Park, making the Grand Lake Terrace inn the perfect domain for the water sports oriented outdoorsman, skier, chef!
Area Attractions
Grand Lake Chamber of Commerce
Rocky Mountain National Park
Arapahoe National Forest
Rocky Mountain Reperatory Theatre
Winter Park Ski Area
Price: $799,000
Click here to request more
information about this property.
Contact:
• Becky Goldsmith
• Office Phone: 720-979-3184
• Cell Phone: 720-979-3184
• Fax: 720-746-2858
• becky@innmatchmakers.com
About the Broker
Becky Goldsmith is an experienced inn broker in Colorado. She has helped many inn buyers and innkeepers realize their dreams.
Becky spent the bulk of her career in the hospitality services, and transitioned into real estate brokerage about 8 years ago.
Becky is a member of the Professional Association of International Innkeepers (PAII) and the Colorado Bed and Breakfast Innkeeper's Association (BBIC).
She currently teaches a class entitled "The Ins and Outs of Innkeeping" at Colorado Free University. For scheduling information, go to www.freeu.com.
The following is a list of inns which Becky has brokered in Colorado:
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 (resale)
The Anniversary Inn, Estes Park
The Kokopelli Inn, Estes Park (conversion)
The Edgar Olin Bed and Breakfast, Pueblo
The Avenue Hotel, Manitou Springs
The Apple Orchard Inn, Durango
High Mountain Lodge, Fraser
O-Bar-O Resort, Durango
The China Clipper, Ouray
Colorado Crossroads, Ouray
Lease Options
The Plains Hotel, Cheyenne Wells
The All Aboard Inn, Georgetown
The Lightner Creek Inn, Durango
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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
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