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Hotel-Motel

Holiday Inn Express & Suites Wheat Ridge - Denver West

10101 Interstate 70 Frontage Rd S, Wheat Ridge, CO 80033

Listing Price: Request For Offer

Number of Rooms
103
RevPAR
$31
Gross SF
52,769
Year Built
1975

Investment Overview

Building Attributes: The IHG-branded hotel is a 103-room, three-story hotel built in 1984 with concrete block and steel frame construction (the Hotel or Property).

Well-Performing Operations: In 2019, the Hotel recorded over $3.3 million in room revenues and generated nearly $1,016,000 in net operating income (30.4 percent of gross revenues) after reserves, representing a strong cash flow.

Prominent Market: The Property is positioned within the highly-sought after Denver metropolitan statistical area (MSA), the largest MSA in Colorado.

Diverse Demand Generators: Empower Field at Mile High, Coors Field, Denver Union Station, Jefferson County Fairgrounds, and Colorado School of Mines are all located within 10 miles of the Property. Interstate 70 also provides a direct route to both the Keystone and the Copper Mountain Resorts as well as downtown Denver and Red Rocks Park and Amphitheater.

Value-Add Opportunity: Though struggling year-to-date in competitive set RevPAR, the Hotels 82% RevPAR index offers further opportunity for rate escalation from a new owner; additionally, completion of the Property Improvement Plan (PIP) and better cost controls will help reposition the asset in the market and obtain a larger portion of the market share.

On-Site Hotel Amenities: The Hotel comes well-equipped with amenities catering to both business and leisure travelers, with a heated outdoor pool, fitness center, self-laundry facilities, two meeting rooms, and a business center.

Attractive Assumable Debt: The Property is currently encumbered by a $9.4 million Commercial Mortgage Backed Security (CMBS) loan with a 4.976 percent interest rate and 372-month amortization schedule. See Terms of Sale (page 14) for additional details.

Unencumbered by Management: The Hotel is offered free and clear of the existing management, allowing new ownership to install their preferred management company or self operate the asset.

Investment Highlights

  • 103-Room, Three-Story, Upper Midscale Hotel Built in 1984
  • 2019 NOI was $1,016,000 (30.4% of Gross Revenues)
  • Positioned in the Highly Sought-After Denver, CO MSA

Exclusively Listed By

Financing By

Hotel-Motel

Holiday Inn Express & Suites Wheat Ridge - Denver West

Listing Price: Request For Offer

Number of Rooms
103
RevPAR
$31
Gross SF
52,769
Year Built
1975

Investment Highlights

  • 103-Room, Three-Story, Upper Midscale Hotel Built in 1984
  • 2019 NOI was $1,016,000 (30.4% of Gross Revenues)
  • Positioned in the Highly Sought-After Denver, CO MSA

Investment Overview

Building Attributes: The IHG-branded hotel is a 103-room, three-story hotel built in 1984 with concrete block and steel frame construction (the Hotel or Property).

Well-Performing Operations: In 2019, the Hotel recorded over $3.3 million in room revenues and generated nearly $1,016,000 in net operating income (30.4 percent of gross revenues) after reserves, representing a strong cash flow.

Prominent Market: The Property is positioned within the highly-sought after Denver metropolitan statistical area (MSA), the largest MSA in Colorado.

Diverse Demand Generators: Empower Field at Mile High, Coors Field, Denver Union Station, Jefferson County Fairgrounds, and Colorado School of Mines are all located within 10 miles of the Property. Interstate 70 also provides a direct route to both the Keystone and the Copper Mountain Resorts as well as downtown Denver and Red Rocks Park and Amphitheater.

Value-Add Opportunity: Though struggling year-to-date in competitive set RevPAR, the Hotels 82% RevPAR index offers further opportunity for rate escalation from a new owner; additionally, completion of the Property Improvement Plan (PIP) and better cost controls will help reposition the asset in the market and obtain a larger portion of the market share.

On-Site Hotel Amenities: The Hotel comes well-equipped with amenities catering to both business and leisure travelers, with a heated outdoor pool, fitness center, self-laundry facilities, two meeting rooms, and a business center.

Attractive Assumable Debt: The Property is currently encumbered by a $9.4 million Commercial Mortgage Backed Security (CMBS) loan with a 4.976 percent interest rate and 372-month amortization schedule. See Terms of Sale (page 14) for additional details.

Unencumbered by Management: The Hotel is offered free and clear of the existing management, allowing new ownership to install their preferred management company or self operate the asset.

Exclusively Listed By

Financing By

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