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Hotel-Motel

Baymont by Wyndham Colorado Springs

1055 Kelly Johnson Blvd, Colorado Springs, CO 80920

Listing Price: $6,400,000

Cap Rate
10.02%
Number of Rooms
65
RevPAR
$74
Price/Room
$98,462
RRM
3.66
Year Built
1997

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 Inn & Suites in Colorado Springs (‘Hotel’ or ‘Property’). The Wyndham-branded Hotel is offered at $6,400,000 or $98,461 per key. Colorado Springs is located in the south-central region of Colorado and is the principal city of the Colorado Springs metropolitan statistical area. Colorado Springs is the second largest city by population in Colorado and is estimated to grow by 58.6 percent by 2050. The city is home to the United States Air Force Academy, the Historic Broadmoor Hotel, U.S. Olympic Museum, Pike’s Peak, and Garden of the Gods Park. In 2018, Colorado Springs was listed as the most desirable place to live in the United States by U.S. News. The Property sits on 1.86 acres off the intersection of Interstate 25, a major north-south thoroughfare, and Academy Boulevard. The Hotel’s ideal location allows easy access to many of the city’s business demand generators including Progressive Insurance Corporate Campus (5.5 miles), Lockheed Martin (2.9 miles), Boeing Tech Center (4.2 miles) and Boeing Company (10.3 miles). Tourism in the area can be attributed to popular sites such as the Garden of the Gods (8.9 miles), Pike Peak (20.5 miles), Cheyenne Mountain Zoo (15.6 miles), U.S. Olympic & Paralympic Training Center and U.S. Olympic Museum (9.1 miles), and the National Museum of World War II Aviation (13.7 miles). Additionally, the United States Air Force Academy (6.4 miles) attracts approximately a million visitors each year and provides substantial room demand for the Property. For the trailing twelve-month period ending August 2021, the Hotel recorded a RevPAR of about $73.75, room revenues of approximately $1.75 million, and a net operating income of 35.7 percent of gross income, which translates to $624 thousand, after a four percent capital replacement reserve. Compared to the STR defined competitive set, the Subject Property has performed in-line with its competitors reporting a 100 percent and a 102 percent RevPAR penetration index in 2019 and 2020, respectively.

Investment Highlights

  • 3-Story, 65-Room, Wyndham-Branded Hotel Recently Renovated in 2020
  • Located within Colorado Springs Metropolitan Statistical Area, the Second Largest Colorado MSA
  • Most Desirable Place to Live According to U.S. News in 2018 with an Estimated 58.6 Percent Population Growth by 2050
  • Excellent Location off Interstate 25 and Academy Boulevard, Near a Variety of Demand Generators
  • Close Proximity to United States Air Force Academy
  • Room Revenues of about $1.75 Million and Net Operating Income of 35.7 Percent or $624 Thousand through the Twelve-Month Period Ending August 2021

Exclusively Listed By

Broker of Record

  • Adam A. Lewis

    Vice President/Regional Manager

    (303) 328-2000

    License(s) CO: ER100091205

    Colorado

Financing By

Hotel-Motel

Baymont by Wyndham Colorado Springs

Listing Price: $6,400,000

Cap Rate
10.02%
Number of Rooms
65
RevPAR
$74
Price/Room
$98,462
RRM
3.66
Year Built
1997

Investment Highlights

  • 3-Story, 65-Room, Wyndham-Branded Hotel Recently Renovated in 2020
  • Located within Colorado Springs Metropolitan Statistical Area, the Second Largest Colorado MSA
  • Most Desirable Place to Live According to U.S. News in 2018 with an Estimated 58.6 Percent Population Growth by 2050
  • Excellent Location off Interstate 25 and Academy Boulevard, Near a Variety of Demand Generators
  • Close Proximity to United States Air Force Academy
  • Room Revenues of about $1.75 Million and Net Operating Income of 35.7 Percent or $624 Thousand through the Twelve-Month Period Ending August 2021

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 Inn & Suites in Colorado Springs (‘Hotel’ or ‘Property’). The Wyndham-branded Hotel is offered at $6,400,000 or $98,461 per key. Colorado Springs is located in the south-central region of Colorado and is the principal city of the Colorado Springs metropolitan statistical area. Colorado Springs is the second largest city by population in Colorado and is estimated to grow by 58.6 percent by 2050. The city is home to the United States Air Force Academy, the Historic Broadmoor Hotel, U.S. Olympic Museum, Pike’s Peak, and Garden of the Gods Park. In 2018, Colorado Springs was listed as the most desirable place to live in the United States by U.S. News. The Property sits on 1.86 acres off the intersection of Interstate 25, a major north-south thoroughfare, and Academy Boulevard. The Hotel’s ideal location allows easy access to many of the city’s business demand generators including Progressive Insurance Corporate Campus (5.5 miles), Lockheed Martin (2.9 miles), Boeing Tech Center (4.2 miles) and Boeing Company (10.3 miles). Tourism in the area can be attributed to popular sites such as the Garden of the Gods (8.9 miles), Pike Peak (20.5 miles), Cheyenne Mountain Zoo (15.6 miles), U.S. Olympic & Paralympic Training Center and U.S. Olympic Museum (9.1 miles), and the National Museum of World War II Aviation (13.7 miles). Additionally, the United States Air Force Academy (6.4 miles) attracts approximately a million visitors each year and provides substantial room demand for the Property. For the trailing twelve-month period ending August 2021, the Hotel recorded a RevPAR of about $73.75, room revenues of approximately $1.75 million, and a net operating income of 35.7 percent of gross income, which translates to $624 thousand, after a four percent capital replacement reserve. Compared to the STR defined competitive set, the Subject Property has performed in-line with its competitors reporting a 100 percent and a 102 percent RevPAR penetration index in 2019 and 2020, respectively.

Exclusively Listed By

Broker of Record

  • Adam A. Lewis

    Vice President/Regional Manager

    (303) 328-2000

    License(s): CO: ER100091205

    Colorado

Financing By

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