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National Council of Exchangors
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Inn&Suites Sign
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Inn&Suites Sign
Frontpool
Cabana
Hallway
Room2bed
Roomcouch
Front and House
Offering Memorandum
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CONTROL:
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Exclusive
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VALUE:
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$3,000,000
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LOAN:
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$1,000,000
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EQUITY:
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$2,000,000
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TITLE:
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MANITOU INN AND SUITES
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TYPE OF PROPERTY:
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Hotel/Motel
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HAVE:
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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.
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WEBSITE ADDRESS:
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PARCEL#:
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CITY, STATE:
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Manitou Springs, CO
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COUNTY:
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El Paso
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BENEFITS TO NEW OWNER:
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85% occupied Motel in a very strong area. Seller can carry or take other property. Possible conversion to Boutique Hotel. Possible NNN tenant
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GROSS SCHEDULED INCOME:
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$450,000
Actual
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VACANCY LOSS:
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$50,000
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GROSS EFFECTIVE INCOME:
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$400,000
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EXPENSES:
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$175,000
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NOI:
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$225,000
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DEBT SERVICE:
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$60,000
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CASH FLOW:
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$165,000
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CAP RATE:
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7.50%
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ENCUMBRANCES:
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BALANCE:
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PAYMENT:
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RATE:
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DUE:
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ASSUMABLE:
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LOAN 1:
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$1,000,000
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$5,000
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5.00%
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2025
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N
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LOAN 2:
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BENEFITS SOUGHT:
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Out of the Motel business.
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CAN ADD:
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Willingness to do a deal. Signature. Experience.
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REMARKS:
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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.
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COUNSELOR:
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Blake Allen, EMS, CCIM
Allen Realty
108 Canon Ave
Manitou Springs, CO 80829
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Phone: (719) 685-0707
Cell: (719) 684-4123
Fax:
(719) 685-0400
blakeallenrealty@gmail.com
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