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29431 Highway 160

South Fork, CO 81154
  • $1,345,000
  • STATUS: Active
  • ON SITE: 462 Days
  • MLS #: 772068
UPDATED: 33 min ago
$1,345,000
  • 0
    BEDS
  • 1.22
    ACRES
  • 14
    BATHS
  • 0
    1/2 BATHS
  • 12,000
    SQFT
  • $112
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1926
County:
Area:

School Ratings & Info

Listing courtesy of Steffens And Company Realty, Inc.


Description

Vibrant, successful, historic, 15 room Bed & Breakfast / Hotel with 24 seat dining room, and fully renovated commercial kitchen near Wolf Creek Ski area in the sunny, Southern Colorado Mountains! 360-degree mountain views, fully furnished, turn-key with great guest reviews. Open year-round with two very strong peak seasons - summer tourist season and winter ski season. 18% Cap Rate and 3.28 GRM. This property is nicely maintained, and up and running, fully functioning, comfortable and SOLD OUT most nights in June, July, August, September, December, and March! Average yearly gross revenue for the last four years is $390,000 providing a comfortable salary PLUS full living quarters, utilities and much, much more for the owners or on-site manager. Net operating income is $145,000 per year. There are 4 Jacuzzi Suites in the historic B&B, plus a separate building with 8 hotel rooms, and two 500 sq ft apartments. There is one small cabin, and 11 RV sites with full hookups. All rooms, apartments and cabins have Direct TV and fast, reliable Wi-Fi. New indoor hot tub with renovated decking and new electrical and plumbing. The dining room has been used as a full-service restaurant before and could be used that way again. Or, this commercial space could be leased out or repurposed in any way you choose! All appliances, inventory, and antiques are owned (not leased) and are included with the sale, (save a few personal items.) Many, many upgrades have been made to this property to ensure it runs smoothly and is LOVED by guests and employees alike. The owner's quarters is 2,000 square feet, 3 bedrooms, 1 bath with a private entrance, private laundry, private yard and wood-burning stove. An innkeeper's couple currently lives on site and manages many of the day to day duties of the property including housekeeping, front desk and reservations. This large, efficient B&B has a solid client base, hundreds of return guests each year, and is set up for a smooth transition in ownership. The current owners will include several weeks of training for the new owners if desired. Please take a moment to look at the virtual tours and videos. They give a great feel for the property.

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The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2021. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer

Real Estate listings held by companies other than Berkshire Hathaway HomeServices Western Colorado Properties contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2021-10-19T10:56:27.26.
www.homesforsaledurango.com/homes/107813311
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29431 Highway 160 South Fork, CO 81154

  • Price: $1,345,000
  • Status: Active
  • Updated: 33 min ago
  • MLS #: 772068
0
Beds
14
Baths
0
½ Baths
1.22
Acres
12,000
SQFT
$112
$/SQFT
1926
Built
Neighborhood:
South Fork
County:
Rio Grande
Area:
South Fork
Property Description
Vibrant, successful, historic, 15 room Bed & Breakfast / Hotel with 24 seat dining room, and fully renovated commercial kitchen near Wolf Creek Ski area in the sunny, Southern Colorado Mountains! 360-degree mountain views, fully furnished, turn-key with great guest reviews. Open year-round with two very strong peak seasons - summer tourist season and winter ski season. 18% Cap Rate and 3.28 GRM. This property is nicely maintained, and up and running, fully functioning, comfortable and SOLD OUT most nights in June, July, August, September, December, and March! Average yearly gross revenue for the last four years is $390,000 providing a comfortable salary PLUS full living quarters, utilities and much, much more for the owners or on-site manager. Net operating income is $145,000 per year. There are 4 Jacuzzi Suites in the historic B&B, plus a separate building with 8 hotel rooms, and two 500 sq ft apartments. There is one small cabin, and 11 RV sites with full hookups. All rooms, apartments and cabins have Direct TV and fast, reliable Wi-Fi. New indoor hot tub with renovated decking and new electrical and plumbing. The dining room has been used as a full-service restaurant before and could be used that way again. Or, this commercial space could be leased out or repurposed in any way you choose! All appliances, inventory, and antiques are owned (not leased) and are included with the sale, (save a few personal items.) Many, many upgrades have been made to this property to ensure it runs smoothly and is LOVED by guests and employees alike. The owner's quarters is 2,000 square feet, 3 bedrooms, 1 bath with a private entrance, private laundry, private yard and wood-burning stove. An innkeeper's couple currently lives on site and manages many of the day to day duties of the property including housekeeping, front desk and reservations. This large, efficient B&B has a solid client base, hundreds of return guests each year, and is set up for a smooth transition in ownership. The current owners will include several weeks of training for the new owners if desired. Please take a moment to look at the virtual tours and videos. They give a great feel for the property.
Exterior Features

Acreage Range 1-1.99 Carport No Construction Log Lot Dimension 1.22 Acres Parking Gravel Parking Spaces 25 Stories Two Water Well Yes Waterfront YN No

Interior Features

Ceiling Height 12Ft Finished Sq Ft 12000 Furn Fixt Equip included Heating Fuel Source ElectricPropaneWood One Quarter Baths 1

Property Features

Approx Inv $7000 Books Available Yes Cam No Cap Rate Percent 7.9 Covenants No Current Business Bed & Breakfast / Hotel Current Use Lodging Desc Of Business Lodging Enterprise Zone Yes Existing Utilities PhoneSepticWater Fixtures Included Yes Gross Scheduled Income 390000 Inventory Included Yes Lease Included No Net Operating Income 150000 New Construction YN No Owners Association No Possible Property Use Lodging Real Estate For Sale Yes Reo Lender Owned No Tax Year 2020 Total Electric Meters 3 Total Taxes 8006.38 Type Business Opp Available Type Of Sale Asset Variable Rate No Water Rights No Year Started 1926 Zoning Type Commercial

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2021. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer

Real Estate listings held by companies other than Berkshire Hathaway HomeServices Western Colorado Properties contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2021-10-19T10:56:27.26.
 
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Berkshire Hathaway HomeServices Western Colorado Properties
842 Main Ave
Durango CO, 81301
Listing courtesy of Steffens And Company Realty, Inc.