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Hotel-Motel

Baymont by Wyndham Grand Junction

754 Horizon Dr, Grand Junction, CO 81506

Listing Price: $5,678,910

Cap Rate
12.78%
Number of Rooms
90
RevPAR
$52
Price/Room
$63,099
RRM
3.31
Year Built
1978

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 Baymont by Wyndham Grand Junction (‘Hotel’ or ‘Property’). The Wyndham Hotels & Resorts-branded Hotel is offered at $5,678,910 or $63,099 per key. The Baymont by Wyndham Grand Junction is located at 754 Horizon Drive in Grand Junction, Colorado, just off Interstate 70. The 90-room, exterior-corridor, two-story building is situated on a 2.49-acre lot. The Property maintains a wide variety of common area amenities including a guest laundry facility, business center, fitness center, meeting room, breakfast area, outdoor barbecue grills, and ample parking for buses or trucks. Recently converting to a Baymont, the Hotel has undergone significant renovations including all new case goods, soft goods, and flooring for all 90 rooms, as well as the addition of a new gym. The city of Grand Junction, Colorado, is in Mesa County, approximately 250 miles west-southwest of Denver, Colorado. The local economy is a strong leisure market, supported by prominent industries, including health care, education, tourism, agriculture, livestock, and energy mining. St. Mary’s Hospital and Colorado Mesa University, two of the city’s largest employers located approximately 1.8 and 2.3 miles from the Hotel respectively, are prime revenue drivers for the surrounding area. Other notable demand generators include Avalon Theatre (4.1 miles), The Escape House (3.9 miles), Museum of Western Colorado (4.6 miles), and Bananas Fun Park (7.0 miles). Additionally, the Grand Junction Convention Center, a 23,000 SF meeting and exhibit space, and two rivers winery and wedding venues, are located less than ten miles from the Property and help facilitate room demand in the area. Located under a mile from the Grand Junction Regional Airport, the Hotel is proximate to the only airport in the area. The Property has maintained strong historical cash flow and benefits from high barriers to entry in the Colorado Northwest Area Submarket. In 2021, room revenues exceeded $560 thousand while maintaining a net operating income (NOI) over $372 thousand, or 28.7 percent of gross revenues after a four percent capital replacement reserve. Presenting a positive upside to revenues, the newly branded Baymont by Wyndham has recently undergone significant renovations worth approximately $1.1 million. A prospective buyer can anticipate positive RevPAR and NOI trends to persist due to increased room demand from transient guests.

Investment Highlights

  • Two-Story, 90-Room, Exterior-Corridor Hotel
  • Highly Visible and Easily Accessible from Horizon Drive, Just Off Interstate 70
  • Strategic Location near Grand Junction Regional Airport and Colorado Mesa University
  • No Competitive New Supply in the Colorado Northwest Area Submarket
  • High Barriers to Entry and Improving Travel Trends Represents Unique Opportunity
  • Offered Fee-Simple, Unencumbered by Management Contracts or Existing Debt
  • Recent $1.1 Million Conversion to Baymont Includes New Gym and New Case Goods, Soft Goods, and Flooring in Guest Rooms

Exclusively Listed By

Financing By

Hotel-Motel

Baymont by Wyndham Grand Junction

Listing Price: $5,678,910

Cap Rate
12.78%
Number of Rooms
90
RevPAR
$52
Price/Room
$63,099
RRM
3.31
Year Built
1978

Investment Highlights

  • Two-Story, 90-Room, Exterior-Corridor Hotel
  • Highly Visible and Easily Accessible from Horizon Drive, Just Off Interstate 70
  • Strategic Location near Grand Junction Regional Airport and Colorado Mesa University
  • No Competitive New Supply in the Colorado Northwest Area Submarket
  • High Barriers to Entry and Improving Travel Trends Represents Unique Opportunity
  • Offered Fee-Simple, Unencumbered by Management Contracts or Existing Debt
  • Recent $1.1 Million Conversion to Baymont Includes New Gym and New Case Goods, Soft Goods, and Flooring in Guest Rooms

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 Baymont by Wyndham Grand Junction (‘Hotel’ or ‘Property’). The Wyndham Hotels & Resorts-branded Hotel is offered at $5,678,910 or $63,099 per key. The Baymont by Wyndham Grand Junction is located at 754 Horizon Drive in Grand Junction, Colorado, just off Interstate 70. The 90-room, exterior-corridor, two-story building is situated on a 2.49-acre lot. The Property maintains a wide variety of common area amenities including a guest laundry facility, business center, fitness center, meeting room, breakfast area, outdoor barbecue grills, and ample parking for buses or trucks. Recently converting to a Baymont, the Hotel has undergone significant renovations including all new case goods, soft goods, and flooring for all 90 rooms, as well as the addition of a new gym. The city of Grand Junction, Colorado, is in Mesa County, approximately 250 miles west-southwest of Denver, Colorado. The local economy is a strong leisure market, supported by prominent industries, including health care, education, tourism, agriculture, livestock, and energy mining. St. Mary’s Hospital and Colorado Mesa University, two of the city’s largest employers located approximately 1.8 and 2.3 miles from the Hotel respectively, are prime revenue drivers for the surrounding area. Other notable demand generators include Avalon Theatre (4.1 miles), The Escape House (3.9 miles), Museum of Western Colorado (4.6 miles), and Bananas Fun Park (7.0 miles). Additionally, the Grand Junction Convention Center, a 23,000 SF meeting and exhibit space, and two rivers winery and wedding venues, are located less than ten miles from the Property and help facilitate room demand in the area. Located under a mile from the Grand Junction Regional Airport, the Hotel is proximate to the only airport in the area. The Property has maintained strong historical cash flow and benefits from high barriers to entry in the Colorado Northwest Area Submarket. In 2021, room revenues exceeded $560 thousand while maintaining a net operating income (NOI) over $372 thousand, or 28.7 percent of gross revenues after a four percent capital replacement reserve. Presenting a positive upside to revenues, the newly branded Baymont by Wyndham has recently undergone significant renovations worth approximately $1.1 million. A prospective buyer can anticipate positive RevPAR and NOI trends to persist due to increased room demand from transient guests.

Exclusively Listed By

Financing By

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