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7750 Highway 2
Commerce City, CO 80022
Clearview Motel · Hospitality Property For Sale
·
30 Rooms
Property Facts
| Property Type | Hospitality | No. Stories | 1 |
| Property Subtype | Hotel | Year Built | 1942 |
| Building Class | C | Tenancy | Single |
| Lot Size | 1.45 AC | Parking Ratio | 1.89/1,000 SF |
| Building Size | 11,547 SF | Corridor | Exterior |
| No. Rooms | 30 | ||
| Zoning | C-2, Commerce City | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.45 AC |
| Building Size | 11,547 SF |
| No. Rooms | 30 |
| No. Stories | 1 |
| Year Built | 1942 |
| Tenancy | Single |
| Parking Ratio | 1.89/1,000 SF |
| Corridor | Exterior |
| Zoning | C-2, Commerce City |
Amenities
- Public Access Wifi
About 7750 HIGHWAY 2 , COMMERCE CITY, CO 80022
This 30-unit motel has been owned and operated for over 20 years by the current owner. The owner currently lives on premises in a 3bd apartment that could be used for owner/operator, property management or additional rental income! All units are rented on a weekly or monthly basis (current rent roll attached) and most units are well below market rents. One of the tenants is currently living rent free in exchange for managing the day-to-day operations of the property. With a growing need for affordable housing in the Denver metro area, properties like these are always in high demand. The owner decided to keep rents below market in an effort to always have full occupancy. Similar properties are charging $250-$300/ week, giving the next owner the ability to boost rental revenue over night with minimal impact on vacancy. This property is a cash cow. Currently listed at a 10.7% cap rate, you would be hard pressed to find a property with better financial metrics. As previously mentioned, rents should be pushed to at least $240/week (from $200), resulting in a cap rate of 13%! Additionally, the current owner has completed some major Capex projects including a new roof on all buildings and new plumbing/electrical in the last 2 years! This is a great addition to any portfolio.
Property Taxes
| Parcel Number | 1721-32-1-24-011 | Improvements Assessment | $138,490 |
| Land Assessment | $60,070 | Total Assessment | $198,560 |
Property Taxes
