Max Hotel and Chophouse | 201 S Main St
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Max Hotel and Chophouse 201 S Main St
30 Unit Apartment Building $2,000,000 ($66,667/Unit) Lamar, CO 81052
Executive Summary
Seller financing is available to qualified buyers. $300,000 down, 5% interest only for 5 years.
Fully refinished, the building is mixed-use with:
- 30 unit residential including 7 double room Airbnb units plus 1st floor loft style residential apartment
- 3 commercial units including a 9000 sq ft owned restaurant plus Barber Shop and Nail Salon
The Max, built in 1938, was and remains an Art Deco gem.
Originally advertised as fireproof, built entirely of concrete from the foundation up, ceilings and floors
included. In honor of that, we had our concrete floors professionally polished to perfect the legacy.
Now an entirely smoke-free environment, the air ducts throughout the building have been
professionally cleaned and all textiles replaced.
The second and third floors have been wholly updated, with all new furnishings plus:
- All bathroom fixtures have been changed to low-flow, water-conserving toilets and faucets.
- All electrical fixtures throughout the building have been replaced with LED low-voltage fixtures.
- All windows have been replaced with double-pane, solar-glazed windows, providing exceptional
heat/AC control and adding layers of quiet to the rooms.
The heating/AC system is one of the early environmentally preferred geothermal systems using
the original well.
The main level of the building features a commercial kitchen with all new equipment including a new
suppression hood, a Great Room dining room, a Bar/Lounge with a private dining room and patio, a
private lounge, another private dining room, and restaurant storage.
3 public bathrooms have been remodeled including the women’s bathroom and baby changing area on 1 st
level and a multi-gender handicapped bathroom.
The basement level of the building includes the men’s bathroom, water heater room with all-new water
heaters, water softener room with new water softener, liquor storage, maintenance room, and empty
storage.
The exterior stucco has been painted, all new single entry doors and double entry doors on the Olive Street side of the building, plus
new exterior lighting.
Fully refinished, the building is mixed-use with:
- 30 unit residential including 7 double room Airbnb units plus 1st floor loft style residential apartment
- 3 commercial units including a 9000 sq ft owned restaurant plus Barber Shop and Nail Salon
The Max, built in 1938, was and remains an Art Deco gem.
Originally advertised as fireproof, built entirely of concrete from the foundation up, ceilings and floors
included. In honor of that, we had our concrete floors professionally polished to perfect the legacy.
Now an entirely smoke-free environment, the air ducts throughout the building have been
professionally cleaned and all textiles replaced.
The second and third floors have been wholly updated, with all new furnishings plus:
- All bathroom fixtures have been changed to low-flow, water-conserving toilets and faucets.
- All electrical fixtures throughout the building have been replaced with LED low-voltage fixtures.
- All windows have been replaced with double-pane, solar-glazed windows, providing exceptional
heat/AC control and adding layers of quiet to the rooms.
The heating/AC system is one of the early environmentally preferred geothermal systems using
the original well.
The main level of the building features a commercial kitchen with all new equipment including a new
suppression hood, a Great Room dining room, a Bar/Lounge with a private dining room and patio, a
private lounge, another private dining room, and restaurant storage.
3 public bathrooms have been remodeled including the women’s bathroom and baby changing area on 1 st
level and a multi-gender handicapped bathroom.
The basement level of the building includes the men’s bathroom, water heater room with all-new water
heaters, water softener room with new water softener, liquor storage, maintenance room, and empty
storage.
The exterior stucco has been painted, all new single entry doors and double entry doors on the Olive Street side of the building, plus
new exterior lighting.
Financial Summary (Actual - 2022) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $2,000,000 | Building Class | B |
| Price Per Unit | $66,667 | Building Size | 25,497 SF |
| Sale Type | Investment | No. Stories | 3 |
| No. Units | 30 | Year Built/Renovated | 1938/2021 |
| Property Type | Multifamily | Corridor | Interior |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $2,000,000 |
| Price Per Unit | $66,667 |
| Sale Type | Investment |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Building Size | 25,497 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1938/2021 |
| Corridor | Interior |
| Opportunity Zone |
Yes |
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Max Hotel and Chophouse | 201 S Main St
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