Run Your Own Business: Colorado Motel for Sale in Lamar
We’ve got a Colorado motel for sale in Lamar! It’s at the junction of CO Highways 385 and 50. The friendly community of Lamar, Colorado welcomes travelers passing through the Arkansas Valley in Colorado, Texas, Oklahoma, and Kansas. Priced at $375k, the 20-unit motel provides a great opportunity for the entrepreneur to run a business facing Highway 50.
Address: 611 E. Olive Street, Lamar, CO 81052
MLS: B191755A
Price: $369,000
Lamar Colorado
A destination, Lamar hosts plenty of community events and activities. Bird hunting is one favorite pastime. Just north of the farming community, however, many have discovered fishing holes along the Arkansas River or at the Neenoshe Reservoir. Hiking and horseback riding, arts and crafts, and team sports bring people to town. And then there are those traveling to ski resorts, Kansas City, and south into Texas.
Income Opportunity – Lamar Colorado Motel for Sale
Totaling 6744 square feet, the 20-unit motel offers a variety of lodging spaces. There are full-size units and smile efficiencies with double king-sized beds. Most of the units are on the first floor with three being on the second floor. The furniture, appliances, and window treatments convey with the sale.
Motel guests access the office from the portico. The motel includes options for offering breakfast or other meals. Truly, if you love to cook, why not open a country bed-and-breakfast? Sitting on 0.522 acres, the motel includes a large parking lot. Why not plan to transform it with some landscaping or a little courtyard?
A Lamar motel could also serve long-term guests. It could be as a great place for affordable housing and part time living. Taking an additional step, this facility could become senior housing and involve a repurposing project.
Repurposing Older Motels
If new owners adapt the property, they will usually need to go through a few hoops. For example, to change to senior housing, there will be additional requirements and inspections. And one could imagine a slew of other options. These units could be adapted into small offices, artist studios, salons, or a combination. The enterprising new business owner may also combine some of the units to create larger spaces. And then there is the idea of offering classes. The entire U-shaped layout might inspire a new owner to open a private school or courses or even spaces for Farmer’s Markets.
Directions
In Lamar, Take Main St., South and turn left on Olive Street. Continue 4 blocks. On the left sits the Lamar Colorado motel for sale.
Real Estate Agents SE Colorado
Call Cruikshank Realty at (719)336-7802 for more information about this income-producing property.
For over three decades Cruikshank Realty, Inc. has served the Lamar region. Lamar is the hub and main trading center for agriculture in SE Colorado. Our client and customer base reaches across the United States.
We begin with relationships. The specific objectives of each client are top priority. We want them to reach their investment real estate goals. Our guiding principle–Respect and Consideration for all customers and clients–keeps us listening so we know how to guide clients. We promise confidentiality and unparalleled professionalism to Buyers and Sellers.
Do you need help with complicated transactions? Our agents deal with investment acquisition, 1031 Exchanges, water rights, and property management and more.