NCE National Council of Exchangors
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National Council of Exchangors
CONTROL: Exclusive VALUE: $3,000,000
    LOAN: $1,000,000
    EQUITY: $2,000,000
TITLE: MANITOU INN AND SUITES
TYPE OF PROPERTY: Hotel/Motel
HAVE: 38 room former Super 8 Motel with an additional single family home and garages. Lighted intersection in the highest priced town in the Colorado Springs area.
WEBSITE ADDRESS:
PARCEL#:    
CITY, STATE: Manitou Springs, CO COUNTY: El Paso
BENEFITS TO NEW OWNER: 85% occupied Motel in a very strong area. Seller can carry or take other property. Possible conversion to Boutique Hotel. Possible NNN tenant
GROSS SCHEDULED INCOME: $450,000    Actual
VACANCY LOSS: $50,000
GROSS EFFECTIVE INCOME: $400,000
EXPENSES: $175,000
NOI: $225,000
DEBT SERVICE: $60,000
CASH FLOW: $165,000
CAP RATE: 7.50%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1: $1,000,000 $5,000 5.00% 2025 N
LOAN 2:      
BENEFITS SOUGHT: Out of the Motel business.
CAN ADD: Willingness to do a deal. Signature. Experience.
REMARKS: Long time motel owner is tired and wants to take time to reinvent himself. Willing to go passive or to take on a project. Not area bound. Good, smart client. Would love a NNN tenant.
COUNSELOR: Blake Allen, EMS, CCIM
Allen Realty
108 Canon ave
Manitou Springs, CO 80829
Phone: (719) 685-0707
Cell: (719) 684-4123
Fax: (719) 685-0400
blakeallenrealty@gmail.com
 
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