Remarks

Rare opportunity to own one of only two Hotels in Angel Fire, New Mexico! Situated on 1/2 acre of land and located in the heart of town in view of the ski resort, the Elk Horn Lodge has seen many upgrades in the last year including new roof, new windows, new boilers and baseboards, upgraded electrical, and completely upgraded rooms with built in furnishings. The lodge also features a popular restaurant (the Morning Star Restaurant, a separate business that leases the space from the lodge owner; Most equipment in the restaurant other than the Dishwasher is owned by the owner of the Lodge), and a caretaker's apartment. A bonus retail area can be used in a variety of ways, from ski/bike tuning, ski/bike storage, retail or front desk. Rooms include two 2 bedroom suites which sleep up to 8, two single king Rooms, eight double queens, and one single queen. All but ground floor unit have private decks. Fire Sprinker system is in place and high speed fiber optic internet is available. Property has been used for employee housing and therefore recent historic revenues do not reflect the potential rental revenue, especially after the extensive remodel. Exterior is the last remaining necessary upgrade, and the Seller (a local builder) is willing to completely upgrade the exterior for $500,000. Owner may be willing to carry a note with 50% down on very favorable terms for the right buyer.

Details

MLS#: 110971
Price: $2,200,000

Style: Building Land Business
Year Built: 1996

County: COLFAX
Subdivision: Angel Fire Vilw