704 Horizon DrGrand Junction, CO 81506

Property Details for 704 Horizon Dr

Year built

1982

Lot size

2.10 AC

Property size (Sq ft)

34,420 SF

Zone code

C-1

Property type

Hospitality properties

Property subtype

Hotels

APN

2701-364-00-075

APU

270136400075

Description

This fee-simple ownership opportunity presents a 123-key Studio 6 extended-stay hotel in Grand Junction, Colorado. Located at 704 Horizon Dr, this two-story, exterior-corridor hotel boasts a prime location just off Interstate 70, offering easy access and high visibility. The property underwent a significant $1.1 million renovation in 2021, bringing it up to current G6 brand standards. Amenities include an outdoor pool, guest laundry, a dog park, and vending machines. Each of the newly remodeled rooms features a kitchenette, flat-screen television, and work desk. The hotel benefits from its strategic location near Grand Junction Regional Airport (1.8 miles) and Colorado Mesa University (2.3 miles), two major local employers. Other nearby attractions include St. Mary's Hospital, Avalon Theatre, The Escape House, Museum of Western Colorado, and Bananas Fun Park, contributing to a robust leisure market. The property sits on a 2.1-acre lot and is one of only two extended-stay, economy hotels in the area, creating a strong competitive advantage. The Colorado Northwest Area hotel submarket experienced a 4.5% year-over-year RevPAR increase as of January, exceeding the market-wide trend. With no new competitive supply planned, this presents a unique opportunity for investors seeking a well-positioned, high-performing asset. The asking price is $6,000,000, or $48,780 per key. Built in 1982, this hotel offers a solid foundation for continued success in a thriving market.

Location Insight

City

Grand Junction

County

Mesa

State

Colorado

Latitude

39.1067

Longitude

-108.543

CBSA code

24300

CBSA name

GRAND JUNCTION, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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