From the sellers:
“We have owned the motel property since 1990 and the adjacent duplex property since 1991. Over the years these properties have proven to be excellent long term investments, providing a stable income despite ups and downs in the economy and political climate. We have provided economical short term rental units in both properties. In the last few years we have begun to also provide economical long term rentals, particularly in the duplex on leases as well as a few unites in the motel. These longer term units have helped to stabilize the business during the off seasons and slow high seasons. By keeping the units simple and functional, we have been able to maintain reasonable rates to our guest base. This overall stability of the investment has allowed us to maintain a good income.“
Why are the sellers selling this property?
“We are selling the property because we are in our 60s and 70s. After operating the motel for 27 years, it is time to move on to a new chapter in our lives. The property has been a wonderful, stable, and fruitful investment, but at our ages we are at a stage where we need to reduce our responsibilities. It is also time for the property to be revitalized with new, fresh eyes and with investors who can create a vibrant, logical redevelopment for the west end of downtown Steamboat Springs.”
Do you believe Steamboat Springs is a great community for new development?
“Steamboat is a great community for new development because it continues to grow. For a mountain town, it has lots of room to expand and attract more businesses. Even in times of economic downturns, the town survives.”
What do you think would be the best use for this location?
“This property is so large that it could support a lot of things, including retail, condos, and even a boutique hotel. The City has expressed a need for this property to be redeveloped into an iconic west gateway into downtown.”
Can you explain alley situation?
“The alley was vacated in order to control its use. Considered private property now, it can only be used by the owners, utility companies, and emergency vehicles. Outsiders cannot use it.”
What will you miss the most about Western Lodge?
“The convenient location and steady income.”
What message do you have for new owner?
“Be creative! The property has great potential for a fantastic return on investment with the right development configuration.”
*All information is believed to be accurate, but please have your buyers or buyer’s Realtor, verify anything that is important for them. Please note, any development is subject to the City of Steamboat Springs approval.