614 Rose Street,
Georgetown,
CO
80444
Completely remodeled and converted back to a hotel finished in 2024! The St James Hotel is Georgetown's newest and nicest hotel and has quickly ramped up the 5 star reviews! We are looking for a buyer to own and operate this hidden gem, join the community, and properly run this magnificent property as it should be. This property could easily be worth $2M in the span of five years based on income alone. After 2025, income projections show it will be valued above $1.7M. The price is firm, however there is an SBA loan which is assumable. The financials support the price at an 8 cap rate. The building has a brand new fire sprinkler and fire alarm system to protect all the new renovations and furnishings along with the guests! This property does not need daily hands-on operation, and can be run remotely with some local contract cleaning services. We operate currently with remote check-in, provide light breakfast and fully stocked shared kitchen for guests. The boutique hotel is the highest and best use for this property and it has the history to back it up. This is not a fixer or something you will want to change much, but only enhance as time goes on, providing a new Georgetown Legacy and added value, increasing room rates over time. Appraised June 1, 2024 for $1.52M. Our first month open - July 2024 we were 80% occupied. August and September were the same. October was slightly less and November is only around 45% but that is to be expected. The ADR is $145, and expenses are very reasonable to operate. All the bathrooms, fixtures, lighting, plumbing, electric, kitchen, appliances, etc. are all brand new. The boiler is not new but has been modified to evenly heat all suites and common areas. There is also 150SF+ cute additional building that could be a spa, sauna, whiskey bar, you name it! Original detailing and wood beam and post construction, brick floor, crown molding, French soffit detail outside, and more! Call this charming place your own! SBA Loan is assumable and Seller will offer an owner carry 2nd loan if needed. Go to stjamescolorado.com for suite info!
This is an Active listing.
Broker Office Phone Number: 303-514-8740
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