$224.86 Per Sq Foot $14,467 est/mo Sourced by Back At You

3077 Main Avenue,Durango, CO 81301

Durango CO, 81301

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Description

Don't miss out on this excellent opportunity to own a successful, longstanding lodging operation in the heart of Historic Durango, Colorado! Tourism in the area is at an all-time high, and the record number of visitors coming to the area looks to continue, so this is your chance to capitalize on the growing Durango tourism industry. This well-established motel operation caters to tourists during all seasons, and offers extended stay rates during the off-season as well for those needing something more long-term. This 35 room motel is located on a busy stretch of Main Avenue/U.S. Highway 550, with 175' of frontage and a highly visible signage. The property is located within walking distance to several of Durango's most popular restaurants, a full service grocery store, retail shopping, the Durango Rec Center, and the Animas River Trail. Of the 35 rooms, 17 have two queen beds, four rooms have three queen beds, eight are single king rooms, and six are single queen rooms. Two of the single king rooms have been recently remodeled to include kitchenettes and new furniture. These king studio rooms rent for a premium, and have been very popular with guests. All but three of the rooms have hot water heat. In addition to the 35 guest rooms, there is also a one bedroom on-site manager's quarters. This could also be an excellent opportunity for redevelopment, or continue with renovating more rooms and make this into your own boutique motel. The income supports the continued operation of the existing motel as the current owner has done successfully for 45+ years.

Details

MLS#810064
Listing TypeFor Sale
StyleHospitality
Sub-TypeResale
StatusPending
Year1965
Days On Site193
Listing Provided ByColdwell Banker Distinctive Properties | Todd Sieger

Features

Bath(s) 9 Total
SQ Feet11,985
Story(s)2
Units36
ZoningCommercial
Acreage0.60

Market Activity 81301

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Listings Checked: 6 minutes ago
StateCO
CountyLa Plata
CityDurango
Zip Code81301
AreaDurango In Town
Community NameAnimas City
Listing VS Median (in Animas City)
Price:
$2,695,000
low | high
Med:
$1,946,000
77.792207792208% of Average
SqFt:
11,985
low | high
Med:
7,158
90.275344180225% of Average
$ / SqFt:
$225
low | high
Med:
$369
14.182921325778% of Average
On Site:
193
low | high
Med:
440.500000
43.813847900114% of Average
Sourced by Back At You
Listing Updated: June 2, 2024 at 6:49:16 PM PDT