535 Main StCortez, CO 81321

Property Details for 535 Main St

Year built

1958

Lot size

3.07 AC

Property size (Sq ft)

17,144 SF

Zone code

C

Property type

Hospitality properties

Property subtype

Motels

APN

561126401004

APU

561126401004

Description

This exceptional 9-million-dollar hospitality investment presents a unique opportunity to acquire the Best Western Turquoise Inn & Suites in Cortez, Colorado. Strategically located at 535 E Main St, 81321, this 100% smoke-free hotel boasts a prime location, just 10 miles from the renowned Mesa Verde National Park, attracting both leisure and business travelers. The hotel offers a range of amenities designed to enhance guest comfort and satisfaction, including a complimentary full breakfast featuring hot and cold options, an indoor heated pool, a unique indoor heated jet pool, and a seasonal outdoor heated pool. Additional guest services include two guest laundries, free parking, a 24-hour front desk, safe deposit boxes, fax services, shipping capabilities, and a convenient business center. The property's proximity to other area attractions such as Clay Mesa, Trail of the Ancients, San Juan National Forest, McPhee Reservoir, and Lowry Pueblo Ruins (all within 35 miles) further enhances its appeal and potential for consistent occupancy. This turnkey operation presents a compelling investment opportunity in a thriving tourist destination with strong potential for future growth and profitability. The hotel's convenient location and comprehensive amenities make it an ideal choice for a wide range of guests, ensuring a steady stream of revenue. This is a rare chance to acquire a well-established and successful hotel in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $3,578,609

  6.5%

  $3,303,331

  7%

  $3,067,379

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,198,915

  Geo Method

  $3,328,628

• Alternative Use

  Use

  Valuation

  Residential

  $3,606,278

  Hospitality

  $3,303,331

  Educational

  $2,748,333

  Medical

  $2,842,852

  Retail

  $4,275,184

Location Insight

City

Cortez

County

Montezuma

State

Colorado

Latitude

37.3481

Longitude

-108.577

Property Tax & Assessments

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