El Colorado Lodge | 23 Manitou Ave
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El Colorado Lodge 23 Manitou Ave
26 Room Hotel Manitou Springs, CO 80829 $3,000,000 ($115,385/Room)
Executive Summary
The El Colorado Lodge, a historic gem opened in June 1926, is a single-story, economy-class hotel with exterior corridors, offering a unique, independent operation and a boutique experience for guests. Located at 23 Manitou Ave in the sought-after Colorado Springs South Submarket, this property is perfectly situated in a suburban setting close to local attractions. The lodge features 26 guest rooms and provides additional income through its parking lot lease with Emerald Fields, generating $10,000/month. Recent improvements include a full electrical upgrade to underground wiring, refreshed landscaping, and interior room renovations. The seller, a creative investor, is open to exploring options such as lease purchase or seller carry, offering flexibility to potential buyers. Additionally, the property is easily accessible, with Colorado Springs Municipal Airport just a 28-minute drive away.
Property Facts
| Price | $3,000,000 | Building Size | 12,445 SF |
| Price Per Room | $115,385 | No. Rooms | 26 |
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Hospitality | Year Built/Renovated | 1926/2012 |
| Property Subtype | Hotel | Tenancy | Single |
| Building Class | C | Parking Ratio | 6.03/1,000 SF |
| Lot Size | 3.50 AC | Corridor | Exterior |
| Price | $3,000,000 |
| Price Per Room | $115,385 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 3.50 AC |
| Building Size | 12,445 SF |
| No. Rooms | 26 |
| No. Stories | 1 |
| Year Built/Renovated | 1926/2012 |
| Tenancy | Single |
| Parking Ratio | 6.03/1,000 SF |
| Corridor | Exterior |
Amenities
- Restaurant
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 26 | $112.00 | - |
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PROPERTY TAXES
| Parcel Number | 74044-20-010 | Improvements Assessment | $31,450 |
| Land Assessment | $181,130 | Total Assessment | $212,580 |
PROPERTY TAXES
Parcel Number
74044-20-010
Land Assessment
$181,130
Improvements Assessment
$31,450
Total Assessment
$212,580
zoning
| Zoning Code | C, Manitou |
| C, Manitou |
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El Colorado Lodge | 23 Manitou Ave
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