505 Main StCortez, CO 81321

Property Details for 505 Main St

Year built

1985

Lot size

0.98 AC

Property size (Sq ft)

20,493 SF

Zone code

C

Property type

Hospitality properties

Property subtype

Motels

APN

561126401002

APU

561126401002

Description

This exceptional hospitality investment opportunity presents a thriving Super 8 by Wyndham hotel located at 505 E Main St, Cortez, CO 81321. Priced at $4,650,000, this property offers significant return potential due to its strategic location in the heart of Cortez, conveniently situated off Highway 160. The hotel provides easy access to numerous area attractions, making it an ideal base for exploring the region's natural beauty and cultural heritage. Guests can easily reach Mesa Verde National Park, renowned for its ancient Pueblo cliff dwellings and archeological sites, and immerse themselves in the local Pueblo culture at the Cortez Cultural Center. Recreational opportunities abound, with nearby golfing at Conquistador Golf Course, gaming and entertainment at Ute Mountain Casino, and water activities at McPhee Lake. The hotel's position between the Rocky Mountains and the Colorado desert further enhances its appeal to a diverse range of travelers. This turnkey operation presents a compelling investment opportunity in a vibrant and growing market, offering strong potential for continued success and profitability. The property's central location and proximity to major attractions ensure consistent occupancy and revenue generation. This is a rare chance to acquire a well-established hotel in a desirable location with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $4,277,674

  6.5%

  $3,948,622

  7%

  $3,666,577

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,800,535

  Geo Method

  $3,978,860

• Alternative Use

  Use

  Valuation

  Residential

  $4,310,748

  Hospitality

  $3,948,622

  Educational

  $3,285,207

  Medical

  $3,398,190

  Retail

  $5,110,322

Location Insight

City

Cortez

County

Montezuma

State

Colorado

Latitude

37.3482

Longitude

-108.578

Property Tax & Assessments

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