725 Grand Avenue, Grand Lake, CO 80447 (MLS# 21-704)


$2,500,000
725 Grand Avenue
Grand Lake, CO 80447
MLS# 21-704
12 beds  |  9.2 baths  |  7519 sqft


725 Grand Avenue, Grand Lake, CO 80447
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Property Description
Grand View Mountain Lodge, located on the boardwalk in the heart of Grand Lake, is a vacation destination dream come true. The property consists of 8 cozy guest rooms, a newly redesigned kitchen and bar, game room, expansive outdoor patio, live music and 3 bedroom in-keeper/owner apartment, which can also be configured as a 1.5-bed + 1-bath owner/manager suite and 2-beds + 1-bath staff housing. You can now own the most popular outdoor entertainment & lodging venue in Grand Lake. 2021 YTD NOI = 12.1% at asking price on $702,000 gross sales.

Details
Maps
Documents
Contract Information
Current Price: $2,500,000
Book Section: Income/Commercial/Ranch
Status: Active
Begin Date: 2021-05-14
List Price: $2,500,000
Percent Ownership: Full
Reservations: Not Applicable
1st Right of Refusal: No
Location, Legal and Taxes
Area: Grand Lake Area
House Number: 725
Street Name: Grand
Street Suffix: Avenue
County: Grand
State/Province: CO
Postal Code: 80447
Parcel Number: 119305218008
Taxes: 3838.72
Tax Year: 2020
Tax Schedule #: R147060
Subdivision: GRAND LAKE
Legal: Subd: GRAND LAKE Lot: 15 Block: 18 Subd: GRAND LAKE Lot: 16 Block: 18
FIRPTA (Foreign Investment in Real Property Act): No
General Property Description
Realtor.COM Type: Commercial
Main SqFt: 3327
Total SqFt: 7519
Upper SqFt: 3327
Finished SqFt: 7519
Year Built: 1949
Style: NOT APPLICABLE
Lot Size: .23
Acres: 0.23
Total Bedrooms: 12
Total Bathrooms: 9.2
Garage Type: None
Miscellaneous
Minimum Earnest $: 100000
Possession: @ DOD
Sales Transfer Tax: No
Earnest Check To: TCR
Water Source
Community: n/a
Public: n/a
Well: n/a
Sewer Source
Community: n/a
Public: n/a
Septic: n/a
Utilities
Cable TV: Avail but no Connect
Schools
Elementary School: Granby
High School: Middle Park
Jr High School: East Grand
Property Features
Construction: Block
Possible Usage: Accommodations; Business; Commercial
Supplements
Grand View Mountain Lodge is located at the corner of Grand Avenue & Vine Street at the start of the town boardwalk, facing the main route through Grand Lake, with a direct view of the picturesque mountains. Initially constructed in 1949, renovated in 1963, and updated in 2019 & 2020, the structure measures 6,654 sq/ft with a 1,200 sq/ft patio area. The overall lot is .229 acres. Known for live music 7-days a week and a great vibe, excellent food, and the most prime location in town; the patio holds 200 (with outdoor heaters) and the inside bar holds 30 additional patrons, while the game room will support another 40. Entertainers come from all over the region to play the patio! Formerly known as the Waconda Lodge and a long-time staple of Grand Lake, the property changed hands several times and ultimately became a full-time residence for a local family. The current owners had visited the Waconda years prior and wished to bring it back to its glory days after purchasing in 2019. Ownership has made substantial investments in upgrades around the property. A full list is available upon request. The motel boasts a cabin feel and mountain rustic interiors with 2 queen + twin rooms, 3 queen + futon rooms, 2 queen rooms, and 1 king room  2 rooms have fireplaces and all rooms have balcony walkway access with a view of the patio. Summer occupancy is generally 100% June through September, while winter weekends run at approximately 75% occupancy. Summer rates are $250/nt and winter rates hover around $150/nt. Visitors & guests are winter enthusiasts and plan to snowmobile, ice fish, cross country ski, or just cozy up to the fire, or a summer explorer visiting the Rocky Mountain Repertory Theater, Rocky Mountain National Park, sailing on Grand Lake, fly fishing on Blue Ribbon rivers, golfing, or just taking a long walk in the wood, this is the place for you. Despite a rough year, the business produced an NOI of $146,385 in 2020. Projected income in 2021 is already up 11% through June and expected to return 10-12% this year. The listing price is based on a turnkey operation and projections for 2021 and beyond. The seller & chef are willing to stay on through a reasonable transition period. Tours and details available upon request. Please do not disturb the staff or ownership without contacting listing broker for an appointment. About Grand Lake: https://gograndlake.com/grand-lake-history/ https://www.5280.com/2020/03/why-you-should-consider-a-winter-vacation-to-grand-lake/ https://www.5280.com/2021/06/the-best-lakes-in-colorado/ https://www.5280.com/2015/08/first-timers-guide-grand-lake/

Listing Office: Sanderson Commercial Real Estate

Last Updated: October - 12 - 2021

725 Grand Avenue, Grand Lake, CO 80447 - MLS# 21-704

Information deemed reliable but not guaranteed.