83 120Th AveThornton, CO 80233

  • Hospitality properties
  • 102,716 SF
For Sale
$17,800,000 View listing

Property Details for 83 120Th Ave

Year built
1984
Lot size
6.56 AC
Property size (Sq ft)
102,716 SF
Property type
Hospitality properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
83 120Th Ave, Thornton, Colorado

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$480,790
$1,115,940
$3,248,130
$4,364,070
-
$3,999,772
$11,642,028
$15,641,800

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