Smartly Priced 13 Room B&B in ''Little Switzerland'' For Sale

Business description

Built in the mid 1990's as a bed and breakfast, the China Clipper has been well-designed for its use. Located just a block off of Main Street in the middle of town, guests may walk to shops, galleries and restaurants--all that the town has to offer.

With 13 well proportioned guest rooms (one a two room suite) the original builder has spent the last 13 years creating a stable business. It is very reasonably priced and is considered an investment grade property. Priced at a 13% cap rate, the business should qualify easily for 80% financing.

Truly a mountain getaway, Ouray and surrounding areas offer all year round outdoor activities. In winter, home to world renowned ice climbing festivals, Ouray bustles with activity. Nearby Telluride has some of the best downhill skiing Colorado has to offer.

Property information

Real Estate:

Real Property Included

Living accommodation:

The two bedroom two bath owner's quarters is situated on the walkout lower level, and offers privacy from the guests. It has a kitchen, living room, and is adjacent to the laundry facilities and inn's storage.

Location:

Ouray is located in southwestern Colorado on US Highway 500, approximately 80 miles north of Durango and 35 miles south of Montrose. The portion of Highway 550 betwwn Ouray and Silverton, 24 miles to the south, has been named The Million Dollar Highway and is part of the San Juan Skyway, one of the most scenic and specacular mountain drives in North America. The Million Dollar Highway derives its name from the low grade gold ore present in its road bed. Ouray, the "Switzerland of America" has been a destination of world travelers for more than 100 years.
Ouray was incorporated in 1876. Many of its buildings were constructed between 1880 nd 1900 and virtually all of them are still standing. Today Ouray looks like it did 100 years ago. Unlike other mining towns, Ouray never experienced a large fire and as a result, a significant number of 19th century commercial buildings remain in town. The entire town is listed on teh National Register of Historic Districts.

Other information

Expansion potential:

Overall occupancy on the property is approx. 40% so there is room to increase occupancy.

Competition / Market:

As a major summer destination resort, Ouray has a number of lodging alternatives. There are only two other establishments that offer luxury accomodation which could be considered direct competitors.

Support & training:

Owner will supply training required by buyer.

Reasons for selling:

Owner is retiring.

Financing available:

This property should qualify for SBA 504 financing for buyer with 20% down. Buyer must be acceptable to the SBA.

Furniture / Fixtures value:

$100,000 (included in the asking price)