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$ 849,000
Est. payment /mo
New
TBD E Main Street Montrose, CO 81401
4 Baths
3,261 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active
Purchase Type For Sale
Square Footage 3,261 sqft
Price per Sqft $260
MLS Listing ID 824731
Full Baths 4
Year Built 1955
Annual Tax Amount $8,645
Tax Year 2024
Lot Size 0.570 Acres
Acres 0.57
Property Sub-Type Hotel/Motel
Property Description
? Investment Opportunity: 4 (Potential 5) Room Bed & Breakfast Inn – Montrose, Colorado. This charming and versatile Bed & Breakfast Inn is in the heart of Montrose, Colorado, offering a unique investment opportunity, perfectly suited for a boutique hotel, Airbnb operation, lifestyle inn, or intimate wedding venue. With subdivision approval expected by May 2025, the property is projected to generate $85,800 in Net Operating Income at a 7.2% cap rate (Source: AirDNA), positioning it as a high-yield hospitality asset in a rapidly growing market. ? Property Features • Size: 3,700 Square Feet on 0.57 Acres • Accommodations: 4 (Potentially 5) Elegantly Designed Suites, 4 Bathrooms • Entrances: 5 Separate Entrances for Guest Privacy • Amenities: Cozy Fireplaces, Outdoor Pool, Cooking Area & Patios • Manager's Suite: Includes Bathroom & Kitchen • Parking: Ample Parking for 15 Vehicles • Accessibility: Main Street Visibility, Walking Distance to Local Eateries & Bars • Financing: Seller Financing Available ? Legal & Subdivision Details Transfer of deed and closing is contingent upon final subdivision split approval from the City of Montrose, expected May 2025. This provides buyers the opportunity to secure the property ahead of the summer peak season. ? Prime Location & Tourist Gateway Situated just minutes from Montrose Regional Airport, the property serves as a strategic hub for year-round tourism, with easy access to: • Telluride Ski Resort • Silverton, Ouray, Ridgeway, Durango, and Grand Junction • Black Canyon of the Gunnison National Park, a breathtaking natural wonder just 13 miles away ? Black Canyon of the Gunnison National Park Renowned for its dramatic cliffs and deep, narrow gorges carved by the Gunnison River, the Black Canyon offers: • Over 2,700-foot-deep sheer canyon walls • Hiking trails, rock climbing, and trout fishing • Approximately 357,000 visitors in 2023, highlighting its growing appeal as a tourist destination. ? Montrose Airbnb Market: With strong demand and growth, Montrose's short-term rental market is thriving. Driven by its scenic surroundings and outdoor recreation opportunities. Key statistics include: • Occupancy Rate: A median of 69%, indicating robust demand • Average Daily Rate (ADR): Approximately $130, providing competitive returns for hosts • Annual Revenue: Typical hosts earn around $33,000 per year • Active Listings: As of September 2024, there were 185 active Airbnb listings in Montrose • Year-over-Year Revenue Growth: 1.02% • Peak Season: July typically marks the peak season, offering the highest occupancy and revenue potential ? Why Montrose? • Elevation: 5,807 ft • Population: 21,003 (2022) • Founded: 1882 • Area: 18.5 square miles • Tourism Appeal: Proximity to Black Canyon of the Gunnison National Park and other attractions
Location
State CO
County Montrose
Interior
Heating Forced air
Cooling Refrigerated Air
Flooring Carpet, Tile, Vinyl
Furnishings Furnished
Exterior
Parking Features 10-20 Total Spaces
Garage Spaces 15.0
Utilities Available Electric, Internet, Natural Gas, Phone, Sanitary Sewer, Water
Roof Type Membrane
Building
Story 1
Foundation Slab
Sewer Public Sewer Installed
Water Public, Water Installed
New Construction No
Listed by Bray Commercial LLC
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