Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Econo Lodge Limon (‘Hotel’ or ‘Property’). The Choice Hotels International-branded Hotel is offered at a price of $1,980,000 or $42,128 per key. The Econo Lodge Limon is located at 985 US Highway 24 in central-east Colorado, at the Intersection of Interstate 70. Built in 1981 on 0.95 acres, the 47-room, two-story Hotel is currently closed. Upon re-opening, the asset will have common area amenities such as a business center and breakfast dining area. Limon is positioned in Lincoln County, nearly equidistant from Denver and Colorado Springs. The city was nicknamed “Hub City” due to the multiple thoroughfares that pass through the town, including Interstate 70, U.S. Highway 287, and State Highways 71 and 86. Major industries in the region include renewable energy, agriculture, health care, logistics, and retail trade. Top employers like the Colorado Department of Corrections, Lincoln Community Hospital, and Lincoln County play a significant role in the regional economy and increases business room demand. Transient and leisure demand is supported by the many entertainment attractions like Limon Heritage Museum, Limon Wetlands, and Limon Railroad Depot. In the trailing twelve-month period ending in December 2023, the limited-service Hotel recorded over $460 thousand in total revenues, coupled with exceptional net operating income of over $186 thousand or 39.5 percent of total revenues, after a four percent capital replacement reserve. This offering allows an investor to acquire this asset at a price below replacement cost and capitalize on the ideal cash flows.