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Ridgeview Motel 3501 W Colorado Ave

12 Room Hotel Colorado Springs, CO 80904 $593,000 ($49,417/Room)

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Executive Summary

The Hansen Apartment Group is pleased to present the Ridgeview Motel development opportunity. Located at 3501 W Colorado Ave, Colorado Springs, CO, it presents an incredible development opportunity for the right investors. Ridgeview Motel is located on the desirable west-side of Colorado Springs, near Manitou Springs and the Garden of The Gods. Investors will be able to determine the best use for the property, given their strategy. The property is currently a vacant motel that consists of ten (10) units (nine hotel units and a single-family home). The property is zoned as C5, which allows an investor to either keep the current structures for remodel or demolish to suit their needs. The interiors of the property have been demoed with some plumbing already roughed into the units.

3501 W Colorado - OM

Property Facts

Price	$593,000	Building Size	3,760 SF
Price Per Room	$49,417	No. Rooms	12
Sale Type	Investment	No. Stories	1
Sale Conditions	Build to Suit Redevelopment Project Building in Shell Condition	Year Built	1946
Property Type	Hospitality	Tenancy	Single
Property Subtype	Hotel	Parking Ratio	2.66/1,000 SF
Building Class	C	Corridor	Exterior
Lot Size	0.45 AC

Price	$593,000
Price Per Room	$49,417
Sale Type	Investment
Sale Conditions	Build to Suit Redevelopment Project Building in Shell Condition
Property Type	Hospitality
Property Subtype	Hotel
Building Class	C
Lot Size	0.45 AC
Building Size	3,760 SF
No. Rooms	12
No. Stories	1
Year Built	1946
Tenancy	Single
Parking Ratio	2.66/1,000 SF
Corridor	Exterior