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207 Elm St
Leadville, CO 80461
Old Tale Inn · Hospitality Property For Sale
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11 Rooms
Investment Highlights
- 11 Key Historic Boutique Hotel located in Leadville, Colorado, the highest-elevation incorporated city in the United States at 10,158 feet
- Flexible Unit Mix with King, Queen, Queen Bonus, and King ADA rooms, each accommodating up to 2 guests
- Value-Add Upside: Opportunities for rate optimization, branding refinement, enhanced digital marketing, and curated guest programming.
- A fully self-service boutique hotel with secure keyless entry and seamless digital check-in. No front desk required
- In-Room Amenities include private bathrooms with showers and tubs, televisions with cable channels, mini-fridges, microwaves, and coffeemakers
- Broker of Record: Michael Corbey with Realspace Commercial Real Estate LLC
Executive Summary
The Property presents a compelling opportunity for an owner-operator or boutique hospitality investor to acquire a character-driven asset in a supply-constrained mountain market, with upside through rate optimization, branding, and enhanced guest experiences. This Property would also perform very well as a conversion to affordable housing. Each room is equipped with private bathrooms featuring showers and tubs, televisions, mini-fridges, microwaves, and coffee makers. Additional amenities include an outdoor hot tub available for guest use and free parking directly in front of each room. Two of the units feature kitchens.
Property Facts
| Price Per Room | $161,875 CAD | Lot Size | 0.06 AC |
| Sale Type | Investment | Building Size | 2,396 SF |
| Cap Rate | 6.40% | No. Rooms | 11 |
| Sale Condition | Business Value Included | No. Stories | 1 |
| Property Type | Hospitality | Year Built/Renovated | 1965/2005 |
| Property Subtype | Hotel | Parking Ratio | 4.05/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Zoning | R2 | ||
| Price Per Room | $161,875 CAD |
| Sale Type | Investment |
| Cap Rate | 6.40% |
| Sale Condition | Business Value Included |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 2,396 SF |
| No. Rooms | 11 |
| No. Stories | 1 |
| Year Built/Renovated | 1965/2005 |
| Parking Ratio | 4.05/1,000 SF |
| Corridor | Exterior |
| Zoning | R2 |
Amenities
- High Speed Internet Access
- Patio
- Public Access Wifi
- Hot Tub
About 207 ELM ST , LEADVILLE, CO 80461
LOCATION INFORMATION: The Property is located in Leadville, Colorado, a historic mountain community set high in the heart of the Rocky Mountains. Known as the highest-elevation incorporated city in the United States at approximately 10,152 feet, Leadville is a renowned former gold rush town dating back to the late 1800s. Today, the city blends its rich mining heritage with dramatic alpine scenery, attracting visitors seeking authentic mountain character, outdoor recreation, and historic charm. Leadville is surrounded by some of Colorado’s most iconic peaks, including Mount Elbert and Mount Massive, and serves as a gateway to year-round outdoor adventure. The area offers extensive opportunities for hiking, mountain biking, fishing, and off-road exploration during the warmer months, while winter brings snowshoeing, cross-country skiing, and access to nearby downhill ski destinations. The town’s high-alpine setting and proximity to national forests and wilderness areas support consistent visitation from outdoor enthusiasts throughout the year. Beyond outdoor recreation, Leadville’s vibrant downtown reflects its historic roots, featuring well-preserved Victorian architecture, museums, local shops, restaurants, and annual events that celebrate the town’s mining heritage and mountain culture. The Property’s location along Elm Street provides convenient access to downtown Leadville while maintaining the accessibility and visibility associated with a roadside motel, offering guests a comfortable base from which to explore the surrounding region. Distances to larger cities: Denver, CO – approximately 100 miles southwest of Denver Colorado Springs, CO – approximately 130 miles northwest of Colorado Springs Vail, CO – approximately 40 miles south of Vail Local airports include Leadville-Lake County Airport (5 miles). Nearby regional and international airports include Central Colorado Regional Airport (40 miles), Eagle County Regional Airport (65 miles), and Denver International Airport (120 miles).
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 11 | $163.00 CAD | - |
Property Taxes
| Parcel Number | 263326122002 | Improvements Assessment | $140,901 CAD |
| Land Assessment | $49,667 CAD | Total Assessment | $190,568 CAD |
Property Taxes
