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A Full Service Realtor Affiliate Servicing SellMyHouse.com Clients.
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| 1865 Woodmoor Drive
Monument, CO 80132, United States |
REF #:84693
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Monument Hotel |
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| DESCRIPTION |
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| N/A |
Class |
61,000 |
Avail.
Sqft. |
1 |
Parking |
| 1 |
Restrooms |
61000 |
Div. Sqft. |
N/A |
Monthly
Fees |
| 1972 |
Year Built |
61000 |
Blding
Sqft. |
2 |
Total Floors |
| N/A |
Lot Size |
Special Purpose |
Type |
2 |
Floor Location |
Property sits on 5 acres and consists of (5) 2 story buildings used as a 124 unit hotel until 2003 which sold for $4.5M in 1998. Structurally sound with roofs being 5 years old, the property is estimated to need $1.54M in rennovation repairs to bring the extimated value to $6.84M. Contains a Restaurant & 250 person Conference center.
The Renovated Inn is targeted to conservatively generate $1.8 Million in annual sales in year 1 and $2.3M in Year 3. Given the attractive market conditions in Monument and the convenient location of the property, representatives of both Choice Hotels and Wyndham hotels have estimated this hotel should generate $2M in sales -without the hotel or conference activity. Net profit before debt service is projected at $684,000. The economic value of the Inn at this income level and a 10% CAP rate is $6.84M.
Current value of the land only is estimated at $2.66M based on a conservative price of $11 per square foot.
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- Property Type: Commercial For Sale
- Sale Type:
- Complex/Area:
N/A
- Current Use: None
- Building Type: None
- Road Frontage: N/A
- Expenses: N/A
- Cap Rate: N/A
- Operating Income: N/A
- Vacancy: N/A
- Gross Annual Income: N/A
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Information
provided is for viewer's personal, non-commercial use and may not
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verify all information.
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