GAYLE WEBSTER - Coldwell Banker Heritage House
3077 Main Avenue
Durango, CO 81301

$2,150,000

Description

Don't miss out on this excellent opportunity to own a successful, longstanding lodging operation in the heart of Historic Durango, Colorado! Tourism in the area stayed strong through the down economy, and the number of visitors currently coming to the area is increasing, so this is your chance to capitalize on the growing Durango tourism industry. This well-established motel operation caters to tourists during all seasons, and offers extended stay rates during the off-season as well for those needing something more long-term. This 35 room motel is located on a busy stretch of Main avenue, with 175' of Main Avenue frontage and a highly visible signage. The property is located within walking distance to several popular restaurants, a full service grocery store, retail shopping, the Durango Rec Center, and the Animas River Trail. Of the 35 rooms, 19 have two queen beds, four rooms have three queen beds, six are single king rooms, and six are single queen rooms. All but three of the rooms have hot water heat. This could also be an excellent opportunity for redevelopment, or remodel the existing motel and open your own boutique motel, or continue to operate the existing motel as the current owner has done successfully for many years.

Details

MLS#738494
Sub-TypeResale
StatusActive
Year1965
Days On Site374

Features

SQ Feet11,985
Story(s)2
Units35
ZoningMixed Use

Market Activity 81301

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Area Information

StateCO
CityDurango
Zip Code81301
AreaDurango In Town
Listing VS Median (in 81301)
Price:
$2,150,000
low | high
Med:
$419,000
100% of Average
SqFt:
11,985
low | high
Med:
957
100% of Average
$ / SqFt:
$179
low | high
Med:
$438
94.062841729241% of Average
On Site:
374
low | high
Med:
77
100% of Average
Listing Updated: 08/14/2018



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