3515 Main Avenue

Description

Well-established, recently renovated, and turnkey hotel operation in Durango, CO. The current owners have invested heavily over the years in building a brand and reputation that consistently ranks this hotel as one of the best in Durango. For the right investor, the timing is great to close on this property prior to the busy tourism season and immediately start seeing a return on the investment. Currently offered at a cap rate of 8.75%, this 25-room hotel property is located on North Main with 160 ft of Main Ave frontage. A large remodeled lobby with room for breakfast service sits adjacent to a separate manager's office, and commercial kitchen space. The property also includes a 1 bedroom manager's apartment that can be locked off and provides living space for a full-time or overnight manager. The Adventure Inn has strong historical occupancy rates and consistently improving ADR, having still turned a profit in 2020 during the COVID-19 pandemic, making it an outlier in the hospitality industry. All FFE included, including new beds and tv's in all rooms, as well as a custom designed website and all branding. The property may also be eligible for conversion to apartments, pending review and approval from the City of Durango. Financials are available with a signed non-disclosure agreement.