Homes for sale - 614 Rose ST, Georgetown, CO 80444

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Bill Watson

bill@watsonrg.com +1(303) 842-0836

$1,395,000

Est. payment - /mo

4,356 Sqft Lot

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UPDATED:

01/21/2025 04:57 PM

Key Details

Property Type Commercial

Sub Type Special Purpose

Listing Status Active

Purchase Type For Sale

MLS Listing ID 2903582

HOA Y/N No

Originating Board recolorado

Year Built 1875

Annual Tax Amount $7,275

Tax Year 2023

Lot Size 4,356 Sqft

Acres 0.1

Property Description

Completely remodeled and converted back to the St James Hotel in 2024! The St James Hotel is Georgetown's newest and nicest hotel opened in July 2024 and has quickly ramped up the 5 star reviews! We are looking for a buyer to own and operate this magnificent property. The upside is definitely there as the rooms are currently undervalued and the cheapest in town compared to size and amenities. This property could easily be worth $2M in the span of five years based on income alone. The financials support the price at an 10 cap rate. The building has a brand new fire sprinkler and fire alarm system to protect all the new renovations and furnishings along with the guests!

This property does not need daily hands-on operation, and can be run remotely with some local contract cleaning services. We operate currently with remote check-in, provide a light breakfast and fully stocked shared kitchen for guests. The boutique hotel is the highest and best use for this property and it has the history to back it up.

Appraised June 1 for $1.52M. Our first month open - July 2024 we were 80% occupied. August and September were about 70%. October was slightly less and November is only around 50% but that is to be expected. December and January were over 80%. Current ADR is $145, and expenses are very reasonable to operate. 2025 ADR should be closer to $175. All the bathrooms, fixtures, lighting, plumbing, electric, kitchen, appliances, etc. are all brand new. The boiler is not new but has been modified to evenly heat all suites and common areas. Adding a liquor license is in process and a hot tub, which will increase the ADR and revenue. A new sewer line was just installed.

There is also 150SF+ cute additional building that could be remodeled into another suite. SBA Loan is assumable and Seller will offer an owner carry 2nd loan if needed.

Go to stjamescolorado.com for suite info!

Location

State CO

County Clear Creek

Zoning SUP

Interior

Fireplace N

Exterior

Utilities Available Cable Available, Electricity Connected, Internet Access (Wired), Natural Gas Available

Roof Type Composition

Total Parking Spaces 6

Garage No

Building

Lot Description Corner Lot, Historical District, Landscaped

Sewer Public Sewer

Water Public

Structure Type Brick,Frame

Others

Acceptable Financing Cash, Conventional, Owner Will Carry

Listing Terms Cash, Conventional, Owner Will Carry

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Listed by Darla Greenwaldt • darla.greenwaldt@gmail.com,303-514-8740

"Many agents say they put their client’s needs first, but the Watson Realty Group are on a mission to actually do it by providing their clients several GUARANTEE programs that take the risk out of selling or buying a home. We are passionate about providing these guarantees, and at the same time making each of our clients feel as though they are our only client. We Live Here, We Work Here and We are Here to Serve You! "

+1(303) 842-0836

bill@watsonrg.com

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614 Rose ST Georgetown, CO 80444