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725 Grand Avenue

Grand Lake, CO 80447
  • $2,500,000
  • STATUS: Active
  • ON SITE: 238 Days
  • MLS #: 21-704
UPDATED: 43 min ago
$2,500,000
  • 12
    BEDS
  • 0.23
    ACRES
  • 9
    BATHS
  • 0
    1/2 BATHS
  • 7,519
    SQFT
  • $332
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1949
County:

School Information

Elementary School:
Middle School:
High School:

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.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/

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© 2022 Grand County Board of REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Real Estate Company. Data last updated: 2022-01-17T17:06:25.853.
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725 Grand Avenue Grand Lake, CO 80447

  • Price: $2,500,000
  • Status: Active
  • On Site: 238 Days
  • Updated: 43 min ago
  • MLS #: 21-704
12
Beds
9
Baths
0
½ Baths
0.23
Acres
7,519
SQFT
$332
$/SQFT
1949
Built
Neighborhood:
Grand Lake
County:
Grand
Area:
Grand Lake Area
Elementary School:
Granby
Middle School:
East Grand
High School:
Middle Park
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.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/
Exterior Features

Access Road Maintain City Garage Type None

Interior Features

Main Sq Ft 3327.00 Total Sq Ft 7519.00 Upper Sq Ft 3327.00

Property Features

Cable TV Avail But No Connect Percent Ownership Full Possible Usage AccommodationsBusinessCommercial Sales Transfer Tax No Sewer Source Community N/A Sewer Source Public N/A Sewer Source Septic N/A Style Not Applicable Tax Year 2020 Taxes 3838.72 Water Source Community N/A Water Source Public N/A Water Source Well N/A


Listing courtesy of Sanderson Commercial Real Estate.
© 2022 Grand County Board of REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Real Estate Company. Data last updated: 2022-01-17T17:06:25.853.
 
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