Grand Lake Retail for Sale
Price just reduced from $2,350,000 to $1,895,000 to make it easy for you to remodel the 7,000 square foot Rapids Restaurant, the only commercial property along the streams in Grand Lake. It could be something other than a restaurant - perhaps a spa, with those 6 charming rooms? Wine & cheese & appetizers along the river? Your own private home? Owner's/ Employee quarters all included at this price - no need to buy a million dollar waterfront home when you can live here and collect income as well.
Seller financing is available.Dine along the stream at this popular restaurant & bar, just a few blocks before it spills into Colorado's largest natural lake: Grand Lake.
4,000 square foot restaurant/ bar/ banquet room/ lobby level seats about 100 guests inside and 45 outside.Another 2600 square feet on the middle level: 6 unique employee rooms, each with a private bath, that can be easily offered to Bed & Breakfast guests. Plus, a Spacious 2 bedroom/ 2 bath owner's apartment / manager's quarters on the private third floor adds another 984 square feet.Leave your windows open all summer to hear the sounds of the clear cold water coming from out of the Rocky Mountain National Park just up the hill.Ownership includes land to the middle of the stream - 100 feet along and below the waters of the North Inlet.Just beyond the east end of the Boardwalk, 2 1/2 blocks from the beach! R148150 #210 Rapids Lane Now "as is" at $1,895,000
Potential:
Rapids is open for lunch daily well into the fall, except on Mondays and Tuesdays. Speaking for locals and vacation homeowners, we would love to have lunch offered in this fabulous setting year round (indoors in winter & spring, please!) and every day in the summertime! Since many of us take vacations in April and November, your bar & restaurant would be one of the very few places open if you choose to serve lunch and/or dinner during those quiet months in Grand Lake. Another breakfast location - or a Wine & Tapas bar would be welcome!
Property details:
You can design the interior and exterior to be just the way you want them. There is no historical regulation that prevents this.
Courthouse records show the square footage as 7608.
Third level - the 2 bedroom, 2 bath apartment is spacious and comfortable enough that the prior owners lived there on site for a while.
Sale is "as is". Yes, the building has been updated over the years. As far as we know, everything is working properly and the inspection should go well.Fully equipped commercial kitchen with easy access to the dining room, banquet room and to the outdoor dining along the river.Details of the equipment are available upon request.
Even getting a liquor license is easy. We can explain.
Property taxes were 9,349 last year.Town water, public sewer, natural gas, internet.Truly a river property! Part of the .26 of an acre you own goes to the center of the North Inlet stream which flows into Grand Lake.
Looking towards the future
The word Historic in the marketing adds charm. Our local historical society recognizes the business's special past, dating back to 1915, when people had their choice of where to build; those who have owned the property and run the business have been quite prominent in our town's history. The building is not, however, registered historically in any way that would prohibit you from changing the structure. If you change the use, parking requirements will come into the picture. As part of your due diligence, please speak with the Town about your plans for now and in the future: 970-627-3435. There are fees associated with new construction or with adding square footage, in town.
If you do not see yourself as a restaurant person, lease it out or... consider wine & cheese along the river. A spa... those 6 rooms with private baths on the middle level are lovely, each decorated uniquely.
A Tip: If you ever remove a large portion of the building, please carefully consider keeping as much as is necessary of the footprint to call it a "remodel". Removal of the entire structure would cause you to have to meet setbacks. In Commercial Transitional zoning (see attached), the setbacks for new construction would be 5 feet from the front and sides and normally 20 feet from the back. In this case, since your backyard is the river, your back side would actually be 30 feet from the water, to meet the county water quality setback.
Parking - You have an easement on the adjoining property for the benefit of you and your guests.
Directions
From the moment you turn off Highway 34 and enter Grand Lake, follow the main road about a mile. At the far end of the Boardwalk shops, the road jogs slightly to the left. You can turn left here or in a couple of hundred feet; either way, it is only several hundred more feet to The Rapids; you will see the sign.
Come and visit!
Just let us know when you would like to take a look. Most rooms are currently rented by employees, so we may not be able to show you all of the lodging. You will be able to experience the idyllic setting and tour the restaurant, bar, banquet room and kitchen in this Streamside piece of Paradise.
Map is attached.
Rapids Lodge and Restaurant is shown along the right hand side of the attached map. An easement for parking, snow and trash removal is on the properties on the left side of the map, for your benefit. This survey shows the topography lines. The owners have built up the shoreline over time and the land is enjoyable all the way to the water.
Income figures are attached.
Gross income this past year was just under $1,000,000. This past winter, the Rapids was open from December through March. Most winter weekends, Grand Lake has special events: winter carnival, pond hockey, ski-joring, ice fishing contests. Winter months are great here in the Snowmobile Capital of Colorado. For the four less busy months, The Rapids was open on Fridays and Saturdays; that is a pretty nice work schedule.
At the top of the last page of the income figures is "interest income" of $85,000; you will not be receiving that. When the sellers sold the 8 units in the parking lot in March of 2022, they financed the purchase. This is the interest they are receiving from that sale. That property sold for $1,900,000, with no view and no water access. Sellers reserved an easement for parking, show and trash removal on that land for the benefit of the Rapids' future owners, as well.
Please keep in mind that in addition to making money from the bar & restaurant, you own a home along the river in town at no extra cost - that is a value of a million dollars. Plus - for no extra money - you are able to provide housing for a large number of employees, or you could collect rental income from those rooms by offering them as nightly lodging.
