HISTORIC HOTEL FOR SALE - LoopNet...COLORADO SPRINGS, CO 80903 (719) 520-9500 HISTORIC HOTEL FOR SALE 2 TABLE OF CONTENTS THE HISTORIC BEAUMONT HOTEL J.P. ROBERT NOLETTE Managing Broker/Principal

Jay CarlsonJay Carlson J.P. Robert NoletteJ.P. Robert Nolette719.520.9500 [email protected] [email protected]

The Beaumont Hotel505 Main StreetOuray, Colorado 81427

Downtown Ouray Colorado

FRONT RANGE COMMERCIAL, LLCFRONT RANGE COMMERCIAL, LLC105 E MORENO AVENUECOLORADO SPRINGS, CO 80903(719) 520-9500

HISTORIC HOTEL FOR SALEHISTORIC HOTEL FOR SALE

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TABLE OF CONTENTS T H E H I S T O R I C B E A U M O N TH O T E L

J.P. ROBERT NOLETTEJ.P. ROBERT NOLETTEManaging Broker/PrincipalManaging Broker/PrincipalO:O: 719.520.9500E:E: [email protected]

JAY CARLSONJAY CARLSONManaging Broker/PrincipalManaging Broker/PrincipalO:O: 719.520.9500E:E: [email protected]

PRESENTED BY:

CONTENTS CONFIDENTIALITY & DISCLAIMER

All materials and information received or derived from Front Range Commercial its directors, officers, agents,advisors, affiliates and/or any third party sources are provided without representation or warranty as tocompleteness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicablegovernmental requirements, developability or suitability, financial performance of the property, projected financialperformance of the property for any party’s intended use or any and all other matters.

Neither Front Range Commercial its directors, officers, agents, advisors, or affiliates makes any representation orwarranty, express or implied, as to accuracy or completeness of the any materials or information provided,derived, or received. Materials and information from any source, whether written or verbal, that may be furnishedfor review are not a substitute for a party’s active conduct of its own due diligence to determine these and othermatters of significance to such party. Front Range Commercial will not investigate or verify any such matters orconduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and toconduct their own inspections and investigations including through appropriate third party independentprofessionals selected by such party.

All financial data should be verified by the party including by obtaining and reading applicable documents andreports and consulting appropriate independent professionals. Front Range Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. FrontRange Commercial does not serve as a financial advisor to any party regarding any proposed transaction. All dataand assumptions regarding financial performance, including that used for financial modeling purposes, may differfrom actual data or performance. Any estimates of market rents and/or projected rents that may be provided to aparty do not necessarily mean that rents can be established at or increased to that level. Parties must evaluateany applicable contractual and governmental limitations as well as market conditions,vacancy factors and otherissues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by theparty with a certified public accountant or tax attorney. Title questions should be discussed by the party with atitle officer or attorney. Questions regarding the condition of the property and whether the property complies withapplicable governmental requirements should be discussed by the party with appropriate engineers, architects,contractors, other consultants and governmental agencies. All properties and services are marketed by FrontRange Commercial in compliance with all applicable fair housing and equal opportunity laws.

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THE BEAUMONT HOTEL AND RESIDENCETHE BEAUMONT HOTEL AND RESIDENCE505 MAIN ST AND 332 5TH AVENUE505 MAIN ST AND 332 5TH AVENUEOURAY, CO 81427OURAY, CO 81427

SALES PRICE:SALES PRICE: $8,500,000.00$8,500,000.00

2018 NOI:2018 NOI: $463,455.00$463,455.00

CAP RATE:CAP RATE: 5.45%5.45%

2018: ____________2018: ____________

2018: ____________2018: ____________

NUMBER OF ROOMS:NUMBER OF ROOMS: 1414

NUMBER OF STORIES: 3NUMBER OF STORIES: 3

YEAR OF CONSTRUCTION:YEAR OF CONSTRUCTION: 18981898

YEAR OF RENOVATION:YEAR OF RENOVATION: 20032003

RETAIL UNITS: 3RETAIL UNITS: 3

RETAIL SQUARE FOOTAGE:RETAIL SQUARE FOOTAGE: ______________________

HOTEL SQUARE FOOTAGE:HOTEL SQUARE FOOTAGE: 24,000 SQ FT24,000 SQ FT

HOUSE SQUARE FOOTAGE:HOUSE SQUARE FOOTAGE: 1,200 SQ FT1,200 SQ FT

CONSTRUCTION:CONSTRUCTION: HOTEL: STONE AND WOOD FRAMEHOTEL: STONE AND WOOD FRAMEHOUSE: WOOD FRAMEHOUSE: WOOD FRAME

FRONTAGE:FRONTAGE: MAIN STREETMAIN STREET

CROSS STREET: 5TH AVENUECROSS STREET: 5TH AVENUE

PARKING:PARKING: 12 HEATED AND RESERVED ON 5TH?12 HEATED AND RESERVED ON 5TH?

REVENUE SOURCES: ROOM RENTALREVENUE SOURCES: ROOM RENTAL

COMMERCIAL RENTCOMMERCIAL RENT

SPA SERVICESSPA SERVICES

EVENTS AND CATERINGEVENTS AND CATERING

EXECUTIVE SUMMARY T H E H I S T O R I C B E A U M O N TH O T E L

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PROPERTY DESCRIPTIONPROPERTY DESCRIPTIONDescribed as "The Pride of the San Juans", The BeaumontHotel is a luxurious property. The property was built in 1886and fully renovated from 1998 to 2003,with $16 millioninvested to bring it to its present pristine condition. Thisproperty truly must be seen to be appreciated. 12 guest roomsprofessionally decorated, each with a different theme andfitted out entirely with beautiful antique furniture. Over $1million was spent on the detailed wall papering and reliefpainting throughout the building.The property has a large ballroom area for events serviced by alarge and fully functional, well designed kitchen. All floors areserved by a modern elevator.A new state of the art boiler system heats the property. A 25ton chiller cools the property with chillers in each room aswell.There is a bar/restaurant area on the first floor serving theentire hotel and the patio area. A second "private" bar withbalcony on the second floor services private parties.On the 3rd floor is a 2000 sq.ft. spa area with hot tub andsauna and 3 massage rooms and large bathrooms withshowers.The 2nd floor has a large conference room.The property has snow melt heaters in the surroundingsidewalks and street parking spaces.The property includes a 1200 sq.ft. home adjacent to theproperty that can be used as a manager's quarters or employeequarters, it also has a 4 car garage.The first floor of the building also houses 3 retail spaces thatare all leased. These space face and have access from Mainstreet and from the hotel lobby.The amount and quality of the FF&E on this property isastounding, including humdreds of antiques. The large patioarea adjacent to the building can accommodate hundreds ofguests for weddings and private events- for which TheBeaumont is famous.

PROPERTY DESCRIPTION T H E H I S T O R I C B E A U M O N TH O T E L

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PROPERTY HIGHLIGHTSPROPERTY HIGHLIGHTS

• Awards

• Certificate of Excellence - TripAdvisor 2012, 2013, 2014,2015, 2016, 2017, 2018 & 2019

• #1 - Top 10 Hotels in the West - Readers' Choice 2013 –Conde' Nast Traveler Magazine

• Top 500 Places in the World to Stay - Gold List 2013 &2014 – Conde' Nast Traveler Magazine

• Readers' Choice 2012 – Conde' Nast Traveler Magazine

• Best Hotel in Ouray County - Ouray County Plaindealer2012, 2013 & 2014

• Best Hotel in The West - True West Magazine 2011

• Preserve America Presidential Award 2004

• Governor's Award for Historic Preservation, State ofColorado 2003

• National Preservation Award 2003

AWARDS T H E H I S T O R I C B E A U M O N TH O T E L

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PROPERTY AERIAL MAP T H E H I S T O R I C B E A U M O N TH O T E L

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TOWN AERIAL T H E H I S T O R I C B E A U M O N TH O T E L

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ACTIVITIES MAP T H E H I S T O R I C B E A U M O N TH O T E L

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COLORADO MAP T H E H I S T O R I C B E A U M O N TH O T E L

2018 2017NET SALES $781,814.00 $753,622.00COST OF SALES ($46,540.00) ($23,768.00)

GROSS PROFIT $735,274.00 $729,854.00

OTHER REVENUERent $57,366.00 $62,755.00Miscellaneous $21,712.00 $3,721.00TOTAL OTHER REVENUE $79,078.00 $66,476.00

TOTAL REVENUES LESS COST OF SALES $814,352.00 $796,330.00

EXPENSES

Insurance Expense $14,254.00 $12,024.00General Adminitration Expenses $213,861.00 $201,483.00Due, Subscriptions & Licenses $1,645.00 $2,682.00Professional Fees $4,746.00 $8,844.00Supplies $5,814.00 $6,365.00Utilities and Phone $62,452.00 $65,054.00Repairs and Maintenance $17,547.00 $26,493.00Selling Expenses $30,578.00 $68,753.00

TOTAL EXPENSES $350,897.00 $391,698.00

$463,455.00 $404,632.00

Beaumont HotelCombined Income StatementBeaumont Hospitality, LLC

Years Ended December 31st

INCOME (LOSS) BEFORE INTEREST, DEP, TAXES, AMORT

Beaumont Food Services, LLCLongshot Ventures, LLC

INVESTMENT DETAILSINCOME STATEMENT 2017/2018

NET SALES $636,479.00

COST OF SALES ($29,304.00)

GROSS PROFIT $607,175.00

OTHER REVENUE

Rent $185,022.00

Miscellaneous

TOTAL OTHER REVENUE $185,022.00

TOTAL REVENUES LESS COST OF SALES $792,197.00

EXPENSES

Insurance Expense

General Administration Expenses -$248,316.00

Due, Subscriptions & Licenses -$1,542.00

Professional Fees -$8,602.00

Supplies -$1,651.00

Utilities and Phone -$38,863.00

Repairs and Maintenance -$5,326.00

Selling Expenses -$29,081.00

Taxes -$1,253.00

TOTAL EXPENSES ($334,634.00)

$457,563.00

Beaumont Hotel

Combined Income Statement

Beaumont Hospitality, LLC

Year to Date: September 30, 2019

INCOME (LOSS) BEFORE INTEREST, DEP, AMORT

Beaumont Food Services, LLC

Longshot Ventures, LLC

INVESTMENT DETAILSINCOME STATEMENT YTD

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FLOOR PLANS T H E H I S T O R I C B E A U M O N TH O T E L

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Ouray has been a special destination of world travelers forthan 100 years. This small community is nestled in some ofthe most rugged and towering peak of the Rockies known asthe San Juan mountains. Set the narrow head of a valley at7,792 feet in elevation and surrounded on three sides with13,000 foot snow-capped peaks-Ouray is home to hundreds ofmiles of historic hiking trails and jeep roads sulfur free hotsprings with stunning views and the world-famous Ouray IcePark.Remarkably, two-thirds of Ouray’s original Victorianstructures, are still occupied, and have been lovingly restoredin order to preserve their turn-of-the-century charm.

Ouray is located in southwest Colorado, 330 milessouthwest of Denver, and 70 miles north of Durango. The skitown of Telluride while only 10 miles away on the map, is 50miles by road. Montrose, Colorado the largest nearby city is35 Miles to the north. Durango, Montrose and Telluride eachhave regional airports with air service from Denver and severalother Midwest hubs. Ouray is located in the heart of theSan Juan Mountains near the headwaters of theUncompahgre River which flows through town. Main street inOuray is Colorado State Highway 550 and connects Ouray toMontrose and Durango. Highway 550 south of Ouray all theway to Silverton and Durango is the world renowned “MillionDollar Highway” for it’s 70 miles of incredible Rocky Mountainvistas.

Ouray’s economy is based on tourism. The Famous HotSprings, Waterfalls, and deep history in mining bring hundredsof thousands of visitors to town each year to hike, bike, offroad, motorcycle, ice climb, snowmobile, climb, snowshoe, ski,and enjoy the amazing mountain view in the “Switzerland ofthe Rockies”.

OURAY AREA OVERVIEW T H E H I S T O R I C B E A U M O N TH O T E L