Listing Courtesy of: darla.greenwaldt@gmail.com,303-514-8740 - Darla Greenwaldt - Darla Greenwaldt
303-514-8740
$1,350,000
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614 Rose Street Georgetown, CO 80444
General Commercial
Residence
Beds
Baths
...
Bed/Bath
4,120
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
Completely remodeled and converted back to the St James Hotel in 2024! The St James Hotel is Georgetown's newest and nicest hotel and has quickly ramped up the 5 star reviews! We are looking for a buyer to own and operate this magnificent property as it should be. The potential is definitely there. ...This property could easily be worth $2M in the span of five years based on income alone. The financials support the price at an 10.6 cap rate. The building has a brand new fire sprinkler and fire alarm system to protect all the new renovations and furnishings along with the guests! This property does not need daily hands-on operation, and can be run remotely with some local contract cleaning services. We operate currently with remote check-in, provide a light breakfast and fully stocked shared kitchen for guests. The boutique hotel is the highest and best use for this property and it has the history to back it up. Appraised June 1 for $1.52M. Our first month open - July 2024 we were 80% occupied. August and September were the same. October was slightly less and November is only around 45% but that is to be expected. Current ADR is $145, and expenses are very reasonable to operate. All the bathrooms, fixtures, lighting, plumbing, electric, kitchen, appliances, etc. are all brand new. The boiler is not new but has been modified to evenly heat all suites and common areas. Adding a liquor license is in process and a hot tub, which will increase the ADR and revenue. There is also 150SF+ cute additional building that could be a spa, sauna, whiskey bar, you name it! Original detailing and wood beam and post construction, brick floor, crown molding, French soffit detail outside, and more! Call this charming place your own! SBA Loan is assumable and Seller will offer an owner carry 2nd loan if needed. Go to stjamescolorado.com for suite info!
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MLS#
2903582
Property Type
General Commercial
Year Built
1875
Square Feet
4,120
sq. ft
Lot Size
0.1
Sewer
Public Sewer
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