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Colorado Motel &
Cabins for
Sale near Wolf Creak Ski Area, PGA Golf & Three Seasons of
Outdoor Sports!
Priced at $1,195,000 from an Income Approach - Seller May Assist a Qualified Buyer
Tired of looking for a profitable lodging property for sale? This unique log cabin resort offers lifestyle and is PROFITABLE. Priced from an income approach, this property offers an excellent opportunity for a buyer looking for a laid back Colorado lifestyle but also wanting a property that makes financial sense and offers substantial income. Great location in South Fork Colorado 17 miles from Wolf Creek Ski Area. In a central location, yet tucked away in a quiet cozy spot in the heart of a growing mountain outdoor sports destination area. Near all local amenities. Walk to grocery, several quaint restaurants, ski rental shop, lounge, unique little shops. Three season outdoor sports: Wolf Creek Ski Area, Gold Medal fishing, 3 hunting sections, ATVing, 4-wheeling, rafting, float trips, PGA golf course, hiking, Great Sand Dunes National Park, mountain biking, backpacking, swimming, hot springs, cross country skiing, snowmobiling, backcountry skiing, snowshoeing, sledding, sleigh rides, horseback riding and much more! Twenty minutes to Creede, 47 miles to Pagosa Springs, 99 miles to Durango, 2 hours to Taos, just over 2 hours to Monarch or Crested Butte. Nearest commercial airports in Alamosa or Durango. Major airports are Denver, Colorado Springs & Albuquerque between 3-4 hours. Experience South West Colorado Mountain Living ~ simply fantastic. Magnificent scenery, activities, wildlife, three season outdoor activities.
See Photos of this Colorado Resort for Sale
A Brief Outline of our Property:
8 Lodge Style Log Cabins
2 - One bedroom lodge style cabins fully equipped with living room, kitchen, full bath.
6 - Two bedroom lodge style cabins fully equipped with living room, kitchen, full bath.1 Standard Log Lodge Room
King bed, full bathroom, coffee service, no kitchen.
6 Freestanding Log Cabins
5 - Two bedroom log cabins, living room, kitchen, fireplaces (4 are newer gas upscale gas units & 1 wood burning), private picnic areas with gas grill, picnic table, and outdoor seating.
1 - Bungalow open log cabin, spacious open floor plan with a queen bed, double sofa bed, full bath, kitchen/eating area.
1 RV Space
This RV space was just added July 2007 and was occupied by our workampers. It has 20 amp electric, water, sewer, cable, and wifi and will house up to 40' motor home. This could be put online for income or continue to be used for workampers to assist in the summers. To date, we have not attempted to put it in service as a rental although there has been demand for the space.
Guest Amenities
Telephone, WIFI, Data Port, Voice Mail, Cable TV, & VCR - All accommodations have color cable television, VCR, and telephone. All but one telephone also have a data port and voice mail capability. Lodge maintains a library of VCR movies which may be checked out free by our guests. WIFI throughout the property except in poor weather conditions. We have dial up back up via data ports in room telephones (except Cabin F).
Kitchens - All our lodge style cabins and log cabins have a fully equipped kitchen. The only accommodation without a kitchen is the Lodge Room.
Fireplaces - Four of the cabins have a gas fireplace. One cabin has a wood burning stove.
Picnic Tables & Barbeque Grills - Our guests have the option to use one of our outdoor picnic areas. We offer 8 gas grills and 3 charcoal grills. There are 8 picnic tables on site. Log cabins have their own private picnic table, gas grill, and outdoor seating.
Hot Tub/Spa - Our redwood gazebo offers a hot tub to welcome guests after a long day of outdoor activities. The hot tub is centrally located for the convenience of all our guests.
Designated Pet Friendly Accommodations - Many of our guests travel with pets. We offer 7 designated pet friendly accommodations: Cabins A, D, E, F, 4,5, and 3.
Smoking Policy - We are a nonsmoking facility. We do not allow smoking inside lodge rooms and cabins. Smoking is permitted outdoors only.
Owners' Quarters & Other Buildings
Owner's or Managers' Quarters - There is a 3 bedroom, 2 bath owner quarters on site. The owners' quarters is attached to the front office/guest check in area for the innkeepers' ease in handling guest needs. Owners quarters offers 1800 SF and is a double wide manufactured home encased in real log surrounding the manufactured home. This building appears to be a log structure from the outside.
Currently owner has a family living on site in the owners' quarters assisting in the running of the property.
Second Office in Owner's Quarters - A second small office is available in the owner's quarters which has an exterior door offering a separate office for owner to work in privacy if desired. Lodge phones are directed to ring in the second office as well as the front desk office.
Laundry - Commercial laundry equipment located off employee quarters. One older commercial washer with 30# capacity and one 75# commercial dryer installed around Fall 2002.
Employee Housing - Employee housing is attached to the commercial laundry room. Employee housing can sleep from 1 to 4 seasonal or permanent employees in a large room with dorm type sleeping arrangements. Employee housing has a kitchen for the convenience of the employees. The employee housing unit could be converted to an additional unit with some interior construction within the building.
Seller currently is utilizing the employee housing as an efficiency apartment as living quarters rather than bringing in seasonal employees due to stable staffing in place at the current time.
Work Shop - A separate work shop allows indoor working space and storage area.
Parking - Large areas of the property are open with gravel to provide for guest parking needs. The property can currently sleep over 100 people at maximum capacity. Guests often bring their outdoor recreational vehicles and extended parking is necessary to accommodate as many as 3 cars per unit since our units can sleep anywhere from 4 to 9 people.
Land Area - Land included with the sale is approximately 1.99 acres more or less. There is room for expansion.
Utilities
Water - Water is supplied by two wells. Both wells have undergone major improvements in the past two years. Wells are maintained by a licensed water system operator. A new buyer may take a water class and monitor wells saving approximately $2600 or more per year. Current seller pays a licensed water system operator due to time constraints. Each well is required to be tested for chlorine levels weekly and tested quarterly/yearly.
Sewage Disposal - Sewage is disposed of through a central system that serves the town. We do not have any septic tanks on site. All sewage is piped off site via the central system.
Heat - Heat is supplied primarily by propane. Four off the two bedroom cabins have new gas fireplaces with blowers capable of heating the entire unit. Two units have electric heat - Cabin F and our Lodge Room.
Telephone - There are 4 incoming telephone lines. Five lines were utilized until September 2007. Only 4 lines are now required due to WIFI installation. Telephone lines are roll over and supply outgoing lines for guest rooms as well as incoming service to the lodge. One line is an 800 phone number. Telephones in rooms have a data port for dial up computer access (as a back up to wifi) except for bungalow cabin. WIFI is bundled with telephone service through Qwest.
Trash Disposal - A dumpster is on site in the rear area of the property. Trash is removed by Waste Management.
Price Reduced for Quick Sale
Priced at $1,195,000 from an income approach. Price includes real estate, furnishings, and training as negotiated in an acceptable offer to purchase. Lodge will be sold ready to turn the key, walk in the door, and operate. Recent sales of other lodging properties in the area have sold 6+ times annual room sales without being renovated, making this an excellent opportunity for a new buyer.
Seller owns a 2 bedroom 2 bath home within approximately 3.5 miles of the main lodge and cabins facility that is in the process of being added to the rental pool for summer 2008. Income from this additional rental will be tracked separately from the main lodge. Although this property is also on the market, if still available at the time of lodge sale, this cabin may be purchased for an additional $149,000. Income from this property is not reflected in the financials of the lodge as it has been utilized solely as the seller's personal property.
Financing
A qualified buyer with good credit should be able to get into this property with a 20% down payment. Seller "may" be willing to offer a small second mortgage for a qualified buyer (as determined by the seller) to assist with financing. Any seller second mortgage will be subject to terms acceptable to seller and as negotiated in an acceptable offer to purchase. Any seller participation will be subject to seller's sole discretion and will be subject to review of buyer's credit, financial statement, outside debt, resumes, amount of down payment, and business plan.
There is an existing assumable SBA loan on the property in the approximate balance of $420,000. It is assumable for a qualified party with a 1% assumption fee. The interest rate is currently 7.5% with payment of $3,494 with an expectation of a reduction in the next month or two.