For Sale
$1,100,000

4700 Nevada AveColorado Springs, CO 80918

Profitable motel, high visibility, C6 zoning.

Overview

Added:
Dec 11, 2024
Days on market:
116
This 12-unit motel in Colorado Springs, Colorado presents a compelling investment opportunity. Located at 4700 N Nevada Ave, this 3,529 square foot property sits on a 0.56-acre lot and boasts a highly visible location. Built in 1954, the property is zoned C6, offering diverse redevelopment potential beyond its current use as a profitable motel. The asking price is $1,100,000, representing a price per square foot of $311.70. Financial projections indicate a 9.8% cap rate and a projected 2024 Net Operating Income (NOI) of $108,696.34. Additional income is generated from a billboard, yielding approximately $5,000 annually. 2023 property taxes totaled $6,237.18. The property includes a large on-site manager's suite and benefits from two buildings. This unique property offers a strong return on investment with significant upside potential for future development or continued operation as a successful motel. The property's prime location and flexible zoning make it an attractive proposition for savvy investors seeking a strong cash flow and long-term growth.

Highlights

  • Profitable 12-unit motel generating $108,696.34 projected 2024 NOI and a 9.8% cap rate.
  • C-6 zoning allows for diverse redevelopment options.
  • Two-building property with a large on-site manager's suite on a 0.56-acre lot.
  • Highly visible location with additional income from a billboard.

Property Details for 4700 Nevada Ave

Property type
Hospitality properties, Motels
Square Feet
3,529 SF
Year Built
1954
Lot Size (sq. ft)
24,394 SF

Location Insight

City
Colorado Springs
County
El Paso
State
Colorado
Latitude
38.899481662847
Longitude
-104.81794671497
4700 Nevada Ave, Colorado Springs, Colorado

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4700 Nevada Ave
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