La Rue Motel 8828 E Colfax Ave 14 Room Hotel Denver, CO 80220 $900,000 ($64,286/Room) 12.96% Cap Rate
INVESTMENT HIGHLIGHTS
- Manager Quarters on Site
- Bus Stop Within Walking Distance
- Signage on East Colfax
EXECUTIVE SUMMARY
Hoff & Leigh proudly presents an opportunity to purchase a 14-unit motel on busy East Colfax. Step into the character and convenience of 8828 E Colfax Avenue in Denver’s East Colfax neighborhood. This opportunity has serious history as part of Colfax Main Street, and it’s a prime spot with easy access to downtown and major roads. The La Rue Motel has endless potential along with many recent upgrades. There is also a billboard on premise, creating additional income. 5 units have kitchenettes, there are manager quarters for an on-site manager, and there have been heavy renovations to the entire property including a new electrical service. Call us today to schedule a private tour and see this opportunity for yourself.
Designated for the Colorado Opportunity Zone Program: https://oedit.colorado.gov/coloradoopportunity-zone-program
*Proforma Cap Rate - 19.89%
*Current Cap Rate (Minus 2024 Capital Improvements) – 12.96%
*2024 NOI (Minus Capital Improvements) - $116,623.71
*Billboard Income - $3,300 / Year
*Property Taxes - $3,331.90 / Year
*New Management in Place as of January 2025
Designated for the Colorado Opportunity Zone Program: https://oedit.colorado.gov/coloradoopportunity-zone-program
*Proforma Cap Rate - 19.89%
*Current Cap Rate (Minus 2024 Capital Improvements) – 12.96%
*2024 NOI (Minus Capital Improvements) - $116,623.71
*Billboard Income - $3,300 / Year
*Property Taxes - $3,331.90 / Year
*New Management in Place as of January 2025
PROPERTY FACTS
| Price | $900,000 |
| Price Per Room | $64,286 |
| Sale Type | Investment |
| Cap Rate | 12.96% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 5,066 SF |
| No. Rooms | 14 |
| No. Stories | 2 |
| Year Built/Renovated | 1953/2024 |
| Tenancy | Single |
| Parking Ratio | 0.96/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | B4, Denver |
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 14 | $52.00 | - |
1 of 1
Walk Score®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 6041-01-003 | Improvements Assessment | $30,050 |
| Land Assessment | $10,470 | Total Assessment | $40,520 |
