Ramada Pueblo

$3,990,000

4703 N Freeway Rd, Pueblo, CO 81008

Details

  • $3,990,000
  • Limited Service

Investment Overview:
The Ramada Pueblo is offered significantly below replacement cost at $3,990,000 or at $35,946 per Key. According to the year-end December 2017 STAR Report, the Ramada Pueblo is underperforming its competitive set with a RevPAR penetration of just 66 percent. At list price, the Ramada Pueblo has a Room Revenue Multiplier of 3.11 Times the March 2018 Room Revenue. The existing Capitalization Rate is 8.41% which includes a payroll of just under $300,000. An owner-operator should be able to immediately reduce the existing payroll, improve the absentee owners operations and increase the hotels Net Operating Income.

Property Overview:
The Ramada Pueblo is two-story, 111-room, exterior corridor hotel located directly off Interstate 25 in the main commercial district in Central Pueblo, Colorado. The hotel is currently being renovated which include already completed improvements to the bathrooms flooring, vanities, shower surrounds, exterior LED Signage and breakfast space. In 2018, guest room and hallway carpets, bedding, and FF&E are all scheduled to be upgraded. A new investor should have Little-To-No Property Improvement Plan at the time of sale.

Amenities at the hotel include an indoor pool, fitness center, business center, coined laundry and a sundry shop. The guest rooms include a high-speed wireless internet, a refrigerator, microwave, individually controlled air conditioning units, and flat-screen televisions. In addition to guestroom amenities, there is also a 475 square foot meeting space available for rent.

Location Overview:
The hotel is within five miles of Colorado State University-Pueblo, Pueblo Motorsports Park, and the Buell Children’s Museum. Pueblo Colorado is one of the country’s top cities for historic preservation and has a three-district creative corridor of art galleries, public art displays and events four miles from the Ramada Pueblo. Pueblo Colorado is the seventh most populous city in Colorado.

Broker of Record:
Bob Kaplan
License: CO ER100052334

Agent for this listing

Skyler Cooper

Vice President Investments, National Hospitality Group
Office: (303) 328-2036
Mobile: (540) 522-9115
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