216 Harrison Avenue Bldg , Unit

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Sold Leadville, CO 80461 MLS# 7733842 Sold by Amy Morrison on 04/30/2021
$1,290,000
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Commercial Property Type
0.19 Acres
9395.00 Sq Ft
1953 Year Built
Business Zoning

Overview

Incredible opportunity to run a bustling business right on Main Street in Historic Downtown Leadville! This motel has 6 long-term apartments, 15 nightly rooms, off-street parking and excellent visibility! Remodeling is already on going, with rooms getting new floors, bathrooms, fixtures, paint, and furniture. Rooms each include a microwave, mini-fridge, and coffee maker, while apartments include a refrigerator and range. Two apartments also have a dishwasher. A popular place for visitors, long and short term rentals, this turn-key operation is ready for your vision to take it to the next level!

New Home Sales Hours

Courtesy Of RE/MAX ASPEN LEAF
Source: REcolorado

View On REcolorado

Upcoming Open Houses

    Features

    Leasing Information

    Leasing Details
    • Application Fee $
    • Availability Date
    • Corporate Rental?
    • Deposits Potentially Refundable
    • Existing Lease Type
    • Lease Amount $
    • Lease Description
    • Lease Duration
    • Liability Insurance Required
    • Owner Pays Cable TV,Electricity,Exterior Maintenance,Gas,Insurance,Internet,Taxes,Telephone,Trash Collection,Water
    • Rent Deposit
    • Rental Application
    • Security Deposit $
    Pet Details
    • Pet Deposit
    • Pet Rent
    • Pets Allowed

    Interior Features

    Summary

    • Year Built Effective 2010
    Basement Details
    • Basement? No
    • Basement
    • Basement Ceiling Height
    Fireplace Detail
    • Fireplace Features
    • No. of Fireplaces
    Square Foot Details
    • SqFt 9,395
    • Living Area, Finished 9,395
    • Above grade, Finished 9,395
    • Basement, Finished
    • Basement, Unfinished
    • PSF Total $137.31
    • PSF Finished $137.31
    • PSF Above Grade $137.31
    Use details
    • Leaseable Area
    • Office Area
    • Retail Area
    • Warehouse Area
    Other
    • Accessibility Features
    • Appliances
    • Building Class
    • Building Features Fixtures/Equipment Included,Storage
    • Ceiling Height
    • Common Walls
    • Exclusions Renters' personal property excluded. All apartment appliances, 2 washers, 2 dryers, 2 storage sheds, & furnishings for motel operation are included.
    • Flooring Carpet,Linoleum,Tile,Wood
    • Furnished
    • Interior Features Private Bathrooms,Wired for Data
    • Laundry Availability
    • Security Features Fire Alarm
    • Spa Features
    • Window Features Double Pane Windows

    Room Details

    Bathroom Details Total Bathrooms: 21
    Bathroom Location Details
    Bedroom Location Details Total Bedrooms: 15
    More Room Details

    Unit Information

    Summary

    • Number of Units 6
    • Number of Units Furnished
    • Number of Units Vacant
    • Unit Features
    Single Unit Details

    Exterior/Lot Features

    Summary

    • Available Elevations
    • Entry Location
    • Faces
    • Horse Amenities
    • Horse Property
    • Levels Multi/Split
    • Stories 2
    • Structure Type Low Rise (1-3)
    • Unit Floor #
    • View
    Builder Details
    • Builder
    •  
    • Completion Time From Groundbreaking
    • Model Type
    Construction details
    • Architecture Traditional,Victorian
    • Construction Materials Wood Frame,Wood Siding
    • Foundation Details Concrete Perimeter,Slab
    • Roof Composition,Membrane
    Exterior Details
    • Dock Features
    • Door Features
    • Exterior Features
    • Fencing
    • Number of Docks
    • Number of Doors
    • Number of Storage Units
    • Other Equipment
    • Other Structures Shed(s)
    • Patio And Porch Features
    • Pool Features
    • Ski Features
    Livable Structure Details
    Lot Details​​​​​​​
    • Acres Leased
    • Crop Acres
    • Cultivated Acres
    • Features Historical District,Near Public Transit,Near Ski Area
    • Irrigated Acres
    • Lot Number
    • Lot Size Acres 0.19
    • Lot Size Dimensions
    • Lot Size SqFt 8,348
    • Sq Ft
    • Pasture Acres
    • Price Per Acre $6,789,473.68
    • Vegetation
    • Waterfront Features
    Mobile Details
    • Make
    • Model
    • Body Type
    • Exterior Dimensions x
    • Skirt
    Outbuilding details
    • Type Other
    • SqFt
    • SqFt Finished
    • Number of Stories
    • Year Built
    • Number of Stalls
    • Number of Doors
    • Door Dimensions
    • Length
    • Width
    • Floor
    • Features
    • Description
    • Type Shed(s)
    • SqFt
    • SqFt Finished
    • Number of Stories
    • Year Built
    • Number of Stalls
    • Number of Doors
    • Door Dimensions
    • Length
    • Width
    • Floor
    • Features
    • Description Utility Shed
    Road details
    • Access
    • Road Responsibility
    • Road Surface Paved

    Parking/Garage

    Parking Space Summary

    • Parking Features Asphalt,Parking Lot
    • Total Parking Spaces 16
    • Garage Spaces
    • Total Carport Spaces
    • Total Offstreet Spaces 16
    • Total Reserved Spaces 0
    • Total RV Spaces 0
    Parking Space Details

    Utilities & Green Home Features

    Summary

    • Cooling
    • Green Energy Efficient
    • Heating Hot Water,Natural Gas,Wall Furnace
    • HVAC Description
    Green Ratings
    Power Production Details
    Sewer
    • Sewer Public Sewer
    • Sewer Fee
    • Sewer Tap Paid YN
    Utilities details
    • Electric Service
    • Gas Tap Fee
    • Gas Tap Paid YN
    • Utilities Cable Available,Internet Access (Wired),Phone Connected
    Water / Well
    • Irrigation Source
    • Issued Well Permit Numbers
    • Water Available 1
    • Water Source Public
    • Well Type
    • Well Usage
    • Water Fees
    • Water Tap Paid?
    • Water/Mineral Rights

    Association Information

    HOA Summary

    • Amenities Completed
    • Amenities Opening
    • Association Amenities Hot Water
    • Association(s) No
    • HOA Fee Includes
    • Total Annual HOA Fees $0
    1st HOA
    • HOA
    • Type
    • Fee $
    • Phone
    • Total Annual Fee $0.00
    • Website
    2nd HOA
    • HOA
    • Type
    • Fee $
    • Phone
    • Total Annual Fee $0.00
    • Website
    3rd HOA
    • HOA
    • Type
    • Fee $
    • Phone
    • Total Annual Fee $0.00
    • Website
    Restrictions & Covenants
    • Pets Allowed
    • Rentals Allowed
    • Restrictions
    • Restrictions Other
    • Restrictions/Covenants? No

    Financial Considerations

    Summary

    • Cap Rate 0.12
    • Cap Rate Calculation
    Actual expense details
    • Annual Water Expense $2400.00
    • Cable TV Expense $3000.00
    • Insurance Expense 3766.00
    • Internet Annual Expense $4000.00
    • Maintenance Expense $7000.00
    • Operating Expense $120623.00
    • Operating Expense Includes Accounting,Advertising,Cable TV,Insurance,Internet,Maintenance,Real Estate Tax,Staff,Utilities,Workmans Compensation
    • Payroll Annual Expense $25000.00
    • Phone Annual Expense $0.00
    • Real Estate Taxes $12400.00
    • Workmans Compensation Expense 1434.00
    Commission Information
    • Buyer Agency Compensation 2%
    • Transaction Broker Compensation
    • Compensation Offered
    • Dual Variable Compensation No
    • Commission Modified NA
    • Closing Comments
    Income details
    • Actual Annual Net Income $183,386
    • Gross Income $304,009
    • Income Includes Laundry,Rent Only
    • Income Includes Description
    Landleasing details
    • Land Lease Amount
    • Land Lease Amount Frequency
    • Land Lease?
    Projected
    • Other Annual Income $78,000
    • Potential Rental Income Annual $192,000
    • Projected Annual Expense $125,000
    • Projected Annual Net Income $175,000
    • Projected Gross Income $300,000
    • Projected Gross Operating Income $270,000
    • Projected Gross Scheduled Income $
    • Vacancy Credit Losses 19500
    Tax details
    • Annual Tax $11,605
    • Legal Description LOTS 19, 20, 21, 22, 23, 24 & N2-1/2' OF 25, BLOCK 5, ST LOUIS ADDITION 412/359 435/473 370/347, 339/9 300/449 300/493 297/411 297/443 317/349, 618/775-6 618/777-80
    • Tax Exemptions
    • Tax ID 20001704
    • Tax Year 2019
    Other
    • Tenant Pays
    • Utilities Metering Separate Electric
    • Utilities Paid By Tenant Included in Rent

    Neighborhood

    Summary

    • Building Name Timberline Motel
    • Development Name
    • Park Name
    • Senior Community No
    • Subdivision Leadville
    New Home Community
    • Community Description
    • Community MLS #
    • Community Name
    • Community Opening
    • Community Website
    • Current Promotions
    • Development Status
    • Directions from Agent From office, go south on Harrison, Timberline will be on your left between East 3rd and East 2nd.
    • Move In Date
    • New Home Available Options
    • New Home Land MLS #
    • New Home Plan MLS #
    Zoning Details
    • Current Use Live/Work
    • Incorporated? No
    • Zoning Business
    • Zoning Jurisdiction

    Other

    Business Details
    • Business Amenities
    • BusinessDescription
    • BusinessType Hotel/Motel
    • Year Established
    History
    • Original List Price $1,400,000
    Partial Ownership Details
    • Partial Ownership Amount
    • Week Remarks
    • Weeks Available
    Other
    • Home Warranty
    • Ownership Individual
    • Possession See Remarks
    • Special Listing Conditions None Known
    • Year Built 1953

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    School Zone

    District:
    Schools: Elementary School, High School, Middle School

    Area Map

    Walk Score

    Bike Score

    Bike Score

    0 description
    Transit Score

    Transit Score

    0 description summary
    Walk Score

    Walk Score

    0 description
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