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Canyon Motel - Availability Details

221 Byers Avenue, Hot Sulphur Springs, CO 80451

  • For Sale $1,995,000
  • Property Type Other
  • Property Size 6,072 Sqft
  • Lot Size 0.42 Acre
  • Parking Spaces Avail. 16
  • Year Built 1950
  • Date Updated Nov 23, 2021
Hot Sulphur Springs, Colorado is located in Grand County between Granby and Kremmling. The town is approximately 100 miles from both Boulder and Denver, Colorado, and is 30 miles northwest of the world-renowned outdoor recreation destination of Winter Park. The town is known for its hot springs, which are located just outside of the town limits on the west side of the Colorado River. This brings in visitors from Winter Park and elsewhere, making the town a destination for outdoor enthusiasts year-round. There are many attractions in and around Hot Sulphur Springs, including the Hot Sulphur Springs Resort and Spa (day passes are available for guests of the Canyon Motel), the aforementioned Winter Park (Resort), Granby Ranch Ski Area, the Colorado Adventure Park, and much more. Colorado is major draw for adventure-seekers throughout the globe, and brings in nearly 90 million visitors a year (2019 estimate).
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Location

  • City Hot Sulphur Springs, CO
  • Neighborhood Hot Sulphur Springs
  • Zip Code 80451

Contacts

broker

Edward Rupp

SVN | Northco

(952) 820-1634

Highlights

  • Seller financing is available
  • Offered at a 10.9% cap rate based on historical financials with significant room for growth; 14.4% cap rate on proforma financials
  • 14 room exterior-corridor motel in the popular tourist destination of Hot Sulphur Springs, Colorado; owner's quarters are also available on-site (and can be rented separately as an apartment if desired)
  • The Property consists of three buildings: an office/owner's residence, and two single-story buildings with 7 units in each
  • There is an in-house deli, the Canyon Deli & Pizza, which offers delicious toasted subs, wraps, and pizza (opened August 2021). The revenue from this restaurant will add a significant amount of revenue to the bottom line going forward.
  • There have been early $200,000 of recent capital improvements, including the installation of solar panels, a repaved sidewalk, sealed parking lot, stucco repairs, and significant room upgrades
  • The Property is in close proximity to Hot Sulphur Springs Resort, which offers day passes to its 24 famous hot springs that are within walking distance. Many consider these hot springs to be the best in Colorado.
  • The Property is only 30 miles from the popular tourist destination of Winter Park, Colorado, which was ranked as a top-40 US ski resort in Conde Nast's 2021 Reader's Choice Awards. The Property is also 30 miles from the western entrance to Rocky Mountain National Park
  • The Property is located less than 100 miles from Denver, CO
  • Within walking distance to a C-store/gas station, a fantastic candy/gift store, the Pioneer Museum, a library, and more
  • The town of Hot Sulphur Springs is located along the Colorado River
  • One of three hotels/motels in Hot Sulphur Springs; the Property is currently ranked as the #1 hotel in Hot Sulphur Springs on TripAdvisor, and is a Certificate of Excellence award-winner
  • Nearby attractions include Byers Canyon, the Pioneer Village Museum, Pioneer Park, and more. The Property is also across the street from the County building.
  • Significant value-add potential, including $200,000 of additional top-line revenue that can be generated by the restaurant, which was opened in August 2021
  • Co-listed with Eric Neeb of Coldwell Banker Realty-Boulder

Frequently Asked Questions

What year was Canyon Motel built and finished?

Canyon Motel was completed in 1950.

Contact Listing Broker

broker

Edward Rupp

SVN | Northco

(952) 820-1634

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