Best Western Plus Peak Vista
7265 Commerce Ln
Colorado Springs, CO 89019
- 99-Room, Upper Midscale, Limited Service Hotel
- Fully Renovated in 2017 – Over $2.7M In Total Renovations
- High Quality Construction - Block Plank With Metal Studding
- Recipient Of Multiple Best Western’s MK Guertin Award (Highest Award) – 2018, 2017, 2016 & 2015
- Located One Mile South Of The United States Airforce Academy
- Proposed CMBS Financing for Qualified Investor Available
- Close Proximity - Garden Of the Gods (2 Miles), University of Colorado (1.5 Mile) & Regus University (.5 Miles)
Investment Overview:
The Best Western Plus Peak Vista Inn & Suites in Colorado Springs, Colorado is exclusively marketed by Marcus & Millichap and offers an investor the opportunity to acquire an upper midscale, limited-service Best Western hotel. This asset, constructed in 1997, is an interior corridor hotel and is currently being offered as part of a portfolio with the Best Western Executive Inn & Suites Colorado Springs. The hotel was completely renovated in 2017 and is expected to have minimal PIP for new investor.
Operationally, the hotel generated a gross revenue of $3,124,612 for the June 2018 trailing-12-month and a net operating income of $1,123,677.
The expenses include provisions for a 3 percent management fee and 4 percent reserves for capital replacement. The hotel is offered unencumbered by management and debt.
Property Overview:
The Best Western Plus Peak Vista Inn is a 99-room, four-story, smoke-free hotel built in 1997. Equipped with numerous common area and guest room amenities, this upper-midscale hotel offers guests the ability to relax alongside the indoor pool and spa, stay healthy with the 24-hour fitness center, or watch cable television on premium bedding located in each guest room. A few amenities the spacious guest rooms come equipped with include a microwave, refrigerator, work desk, data ports, a lounge chair, flat-screen television with premium cable channels, and a mountain view in select rooms. Some common area amenities the hotel has to offer consist of an indoor pool and hot tub, business center, fitness center, a sundry shop, community-wide internet, and breakfast daily.
Best Western Executive Inn & Suites
1440 Harrison Rd
Colorado Springs, CO 80905
- 84-Room, Midscale, Limited-Service Hotel
- Fully Renovated in 2017 – Over $1.4M In Total Renovation
- Excellent Location Directly Off I-25
- Efficient Operations with An Attractive 39.45% NOI Ratio
- Consistently Ranked Within The Top 15% Percent of All Hotels in Colorado Springs (TripAdvisor)
- Cheyenne Mountain Conference Center (1 Mile), Broadmoor World Arena (.5) Mile, West El Paso Baseball Complex (.5), Fort Carson (2 Miles) and The Broadmoor (2 Miles)
Investment Overview:
The Holiday Inn Executive Inn & Suites is located in Colorado Springs, Colorado, exclusively marketed by Marcus & Millichap, offers an investor the opportunity to acquire a midscale, limit- ed-service Best Western hotel. This interior corridor asset, constructed in 1981 and fully renovat- ed in 2017, is offered for sale as a portfolio with the Best Western Plus Peak Vista Inn & Suites Colorado Springs. A new owner can expect minimal PIP at transfer.
Operationally, the hotel generated $2,396,023 in gross revenue over the June 2018 trailing-12- month period and achieved a net operating income of $934,729.
The expenses include provisions for a 3 percent management fee and 4 percent reserves for capital replacement. The hotel is offered unencumbered by management and debt.
Property Overview:
The Best Western Executive Inn & Suites is a 84-room, two-story, smoke-free hotel built in 1981. Equipped with numerous common area and guest room amenities, this upper-midscale hotel offers guests the ability to relax alongside the indoor pool and spa, stay healthy with the 24-hour fitness center, or watch cable television on premium bedding located in each guest room. A few amenities the spacious guest rooms come equipped with include a microwave, refrigerator, work desk, data ports, a lounge chair, flat-screen television with premium cable channels, and a mountain view in select rooms. Some common area amenities the hotel has to offer consist of an indoor pool and hot tub, business center, fitness center, community-wide internet, and breakfast daily.
Location Overview:
Colorado Springs, Colorado is a city located in El Paso County in the central region of the state, 65 miles south of Denver and 45 miles north of Pueblo. The Best Western Plus Peak Vista is positioned off Commerce Center Drive near Interstate 25 and East Woodmen Road. The Best Western Executive Inn & Suites is located off Interstate 25 just south of Highway 24. Both hotels are located a few miles from the downtown area, near many popular revenue generators and major employers. Guests looking to head outdoors will be able to enjoy beautiful parks and nature trails like the Garden of the Gods and the Bear Creek Regional Park East. Other revenue drivers in the area include the Woodmen Val- ley Shopping Center, University Village Colorado Shopping Center, the University of Colorado Colorado Springs, Chapel Hills Mall, Pikes Peak Performing Arts Center, and the Cheyenne Mountain Zoo. The city’s two largest revenue drivers are the Olympic Training Center, which is responsible for bringing over 140,000 people annually to Colorado Springs, and the Colorado Springs Airport, the second largest airport in the state. The United States Air Force Academy & Airfield and Peterson Air Force Base, both located in Colorado Springs, attract over 9,000,000 people each year. The city’s major employers are EviCore Healthcare, Cobham Semiconductor Solutions, Cherwell Software, UCHealth – Memorial Hos- pital North, Penrose-St. Francis/Centura Health, and Colorado College.
Sierra Completions, a subsidiary of Sierra Nevada Corporation, which is constructing an $88-million campus that will house 2,100 employees within five years is less than 1-mile from the Quality Inn. The facility is expected to boost activity at the airport, anchor the area’s emerging commercial aerospace industry, and generate a $5-billion impact on the state’s economy.
Broker of Record:
Bob Kaplan
CO ER100052334
