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La Rue Motel 8828 E Colfax Ave 14 Room Hotel Denver, CO 80220 $1,221,430 CAD ($87,245 CAD/Room)
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, major roads, and close to local attractions. 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 – 20.46%
2024 NOI (Minus Capital Improvements) – $116,623.71
Billboard Income – $3,300 / Year
Property Taxes – $3,331.90 / Year
Designated for the Colorado Opportunity Zone Program: https://oedit.colorado.gov/coloradoopportunity-zone-program
Proforma Cap Rate – 20.46%
2024 NOI (Minus Capital Improvements) – $116,623.71
Billboard Income – $3,300 / Year
Property Taxes – $3,331.90 / Year
PROPERTY FACTS
| Price | $1,221,430 CAD | No. Rooms | 14 |
| Price Per Room | $87,245 CAD | No. Stories | 2 |
| Sale Type | Investment | Year Built/Renovated | 1953/2024 |
| Property Type | Hospitality | Tenancy | Single |
| Property Subtype | Hotel | Parking Ratio | 0.96/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 0.14 AC | Opportunity Zone |
Yes
|
| Building Size | 5,066 SF | ||
| Zoning | B4, Denver | ||
| Price | $1,221,430 CAD |
| Price Per Room | $87,245 CAD |
| Sale Type | Investment |
| 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 | $72.59 CAD | - |
1 1
Walk Score®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 6041-01-003 | Improvements Assessment | $41,947 CAD |
| Land Assessment | $14,615 CAD | Total Assessment | $56,563 CAD |
PROPERTY TAXES
Parcel Number
6041-01-003
Land Assessment
$14,615 CAD
Improvements Assessment
$41,947 CAD
Total Assessment
$56,563 CAD
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La Rue Motel | 8828 E Colfax Ave
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