83 120Th AveThornton, CO 80233

Property Details for 83 120Th Ave

Year built

1984

Lot size

6.56 AC

Property size (Sq ft)

102,716 SF

Property type

Hotels

APN

R0024498

APU

R0024498

Description

This exceptional 137-key DoubleTree by Hilton Hotel in Thornton, Colorado, presents a lucrative investment opportunity. Located on a 6.71-acre lot, this five-story, 1984-built hotel boasts 17,540 square feet of banquet space, including a 6,400-square-foot ballroom, ideal for conferences and events. The property features an indoor pool, fitness center, business center, and on-site restaurant and lounge. Its prime location offers easy access to Interstate 25, Downtown Denver (under 15 miles), and major attractions like Coors Field and Denver Premium Outlets. The hotel's proximity to Denver International Airport (22 miles), which saw a record 77.8 million passengers in 2023, ensures consistent high occupancy. Over $4 million in capital expenditures since 2023 have enhanced guest rooms, hallways, lobby, and meeting rooms. The hotel's affiliation with the Hilton brand provides access to a robust reservation system and the extensive Hilton Honors program (173+ million members). In 2023, the hotel generated $5.16 million in gross revenue and $1.33 million in net operating income (25.8% NOI margin), offering significant upside potential through improved management strategies. This fee-simple offering is unencumbered by debt or management contracts. Asking price: $17,800,000.

• CAP approach

  CAP return

  Valuation

  6%

  $27,874,940

  6.5%

  $25,730,714

  7%

  $23,892,806

• Comparable approach

  Method

  Valuation

  Relative Method

  $63,384,144

  Geo Method

  $19,943,030

• Alternative Use

  Use

  Valuation

  Residential

  $28,090,464

  Hospitality

  $25,730,714

  Educational

  $21,407,652

  Medical

  $22,143,894

  Retail

  $33,300,792

Location Insight

City

Thornton

County

Adams

State

Colorado

Latitude

39.9164

Longitude

-104.988

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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