1925 Fremont DrCañon City, CO 81212
- Turn key restaurants
- 3,803 SF
Property Details for 1925 Fremont Dr
- Year built
- 1945
- Lot size
- 1.88 AC
- Property size (Sq ft)
- 3,803 SF
- Property type
- Turn key restaurants
- APN
- 98604461
- APU
- 98604461
Description
This exceptional value-add investment opportunity presents a 68-key Motel 6 located at 1925 Fremont Dr, Canon City, CO 81212. The property boasts a strong net operating income (NOI) of $229,329, yielding an attractive 8.25% capitalization rate. The asking price is $2,780,000, translating to $95.04 per square foot for the 29,251 square foot building. Built in 1957 and extensively renovated in 2022, this four-building, two-story motel features 68 guest rooms, including a mix of family suites, double queen rooms, and single king rooms. Recent upgrades encompass new power systems, air conditioning units, and plumbing, significantly enhancing guest comfort and operational efficiency. Situated on a 1.88-acre lot, this motel benefits from its prime location in Canon City, Colorado, a city renowned for its natural beauty and proximity to popular attractions such as the Royal Gorge Bridge and Park, ensuring a consistent flow of tourists and travelers. The property is offered fee simple and presents a compelling opportunity for investors seeking a profitable hospitality asset with significant upside potential. The property's APN is 98604461.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $935,207
- 6.5%
- $863,268
- 7%
- $801,606
-
Comparable approach
- Method
- Valuation
- Relative Method
- $436,827
- Geo Method
- $326,772
-
Alternative Use
- Use
- Valuation
- Industrial / Distribution
- $1,694,720
- Mixed-Use / Specialty
- $855,638
- Hospitality / Lodging
- $621,828
- Office
- $845,814
- Institutional / Educational
- $887,892
- Residential Income
- $1,038,830
- Multifamily
- $1,271,160
- Automotive / Energy
- $761,050
- Parking / Income-Based Land
- $267,126
- Restaurant / Food Service
- $435,309
- Healthcare / Senior Housing
- $882,109
Location Insight
- City
- Canon City
- County
- Fremont
- State
- Colorado
- Latitude
- 38.4485
- Longitude
- -105.219
- CBSA code
- 15860
- CBSA name
- CANON CITY, CO MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].