As the exclusive representative of the seller, Marcus & Millichap is pleased to present for sale to qualified investors the Best Western Plus Executive Residency Fillmore Inn (‘Hotel’ or ‘Property’) located at 3150 N Chestnut Street in Colorado Springs, Colorado. The upper midscale Best Western-affiliated hotel is offered on a “Request for Offers” basis. Please reach out to the listing agent for more information.
Situated on approximately 3.87 acres, the Property features 160 guest rooms across four stories. Originally constructed in 2018, the Hotel underwent a significant expansion and renovation in 2023, adding 61 guest units including 40 standard rooms and 21 full kitchen suites across three suite types, enhancing its appeal to both short-term and extended-stay guests. The expansion also included the addition of new public restrooms, a 1,400-square-foot meeting and banquet space with integrated audio systems, and a banquet pantry with commercial-grade equipment. Additionally, all existing common areas were fully renovated to align with the upgraded product. The Property offers a wide range of amenities including a breakfast dining area, business center, indoor pool, fitness center, multiple meeting and event spaces, and an on-site bar with a limited food menu, along with outdoor gathering areas including a patio and fire pit.
Colorado Springs is one of the fastest-growing cities in Colorado and serves as a major economic and tourism hub in the Front Range region. The city’s economy is supported by a diverse mix of industries including defense, aerospace, technology, healthcare, and tourism, anchored by major institutions such as the U.S. Air Force Academy, Fort Carson, and Peterson Space Force Base. The region attracts millions of visitors annually due to its natural beauty, outdoor recreation, and nationally recognized attractions such as Pikes Peak and Garden of the Gods. Continued population growth, strong job creation, and ongoing infrastructure investment have positioned Colorado Springs as a highly desirable destination for both residents and visitors. With its expanding economic base and strong tourism fundamentals, the market provides a stable and growing environment for hospitality investment.
Unmatched Connectivity and Regional Accessibility: Colorado Springs offers strong regional connectivity supported by Interstate 25, which provides direct north-south access along the Front Range, linking the city to Denver and other major markets. The city is also served by Colorado Springs Airport (COS), which provides convenient commercial air service and supports both business and leisure travel. Its proximity to Denver and the broader Front Range enhances accessibility while maintaining a lower cost structure relative to nearby metros such as Denver and Boulder.
Demographics and Workforce: Growing, Skilled, and Opportunity-Rich Population: Colorado Springs benefits from a growing and increasingly skilled workforce that supports long-term economic expansion. The metro population is approximately 789,000 residents, with the city itself accounting for roughly 505,079 residents as of 2025. Population growth is projected to continue, reaching approximately 528,760 residents by 2030, representing a 4.69 percent increase.
Corporate Strength and Military Presence: Colorado Springs is distinguished by its strong military and defense presence, which serves as a cornerstone of the local economy. Major installations such as Fort Carson, Peterson Space Force Base, NORAD, and the U.S. Air Force Academy generate consistent employment and drive demand across multiple real estate sectors. In addition, the region’s growing technology and aerospace sectors have attracted both established corporations and emerging firms, creating a dynamic business environment Downtown Colorado Springs alone supports a workforce of approximately 22,000 people across more than 3,000 businesses, including energy companies, high-tech firms, financial institutions, and government agencies.
Strong Real Estate Market Supported by Development and Investment: The Colorado Springs real estate market continues to demonstrate strong fundamentals supported by ongoing development and investment. Downtown redevelopment initiatives have led to significant mixed-use growth, with a substantial portion of new investment focused on multifamily projects designed to bring additional residents into the urban core. Over $2.6 billion in current and planned development is underway, with additional large-scale projects in conceptual phases expected to further transform the city.
Natural Beauty Driving Year-Round Tourism and Lifestyle Demand: Colorado Springs is a premier tourism destination, drawing millions of visitors annually due to its natural landscape and outdoor recreation opportunities. Anchored by Pikes Peak, one of Colorado’s most iconic landmarks, the region offers access to world-class attractions such as Garden of the Gods and numerous hiking, biking, and outdoor recreation areas. The city also hosts major annual events including the Pikes Peak International Hill Climb and Labor Day Lift Off, which generate significant seasonal visitations.
Education, Innovation, and Future Growth: Colorado Springs continues to position itself as a center for innovation and long-term growth. The presence of military institutions, higher education facilities, and advanced technology firms fosters a strong pipeline of talent and research activity. Downtown development continues to evolve into a mixed-use environment, with expanding residential, office, and retail spaces supported by robust
telecommunications infrastructure and fiber connectivity.
BROKER OF RECORD
Adam Lewis
Colorado
P: (303) 328-2000
Lic #: ER.100091205
Firm Lic #: EC. 100048709
