Nordic-Inn-Mt CrestedButte

Executive Summary
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
[email protected]
www.chriskopf.com
Executive Summary
INTRODUCTION
Coldwell Banker Bighorn Realty and Chris Kopf, Previews® Property Specialist are pleased to
offer qualified investors the opportunity to acquire the 28 Room Historic Nordic Inn Bed &
Breakfast and the 3.37 Acres (146,797 s.q. f.t.).
The boutique hotel is well run, with upside opportunity. The Nordic Inn is now recognized as
the premier Bed & Breakfast by TripAdvisor ranking as #1 in Crested Butte. The Average Daily
Raite (ADR) has doubled over the past 4 years, and with the addition of the $27M Biery-Witt
Center (perfoming arts and event center) the demand for year-round reservations will increase.
The land consist of six parcels: The last large parcel of land not controlled by CBMR available
for development in the base area. Two parcels are currently zoned for high density multiple
family. Three parcels are zoned for low density multiple family, and one parcel is zoned for
single family. All six parcels could be merged as a new PUD high density multi-family
development as hotel, condo, or apartment use (the town of Mt. Crested Butte is
progressive and developer friendly).
This multi-acre site is rare at the base of a major ski area resort located in Mt. Crested Butte,
Colorado. The Crested Butte area is a popular year-round recreation area located southwest
of Denver, Colorado. This location provides residents with easy access to Crested Butte
Mountain Resort (only a 500 yard walk or electric cart valet during ski season). Crested Butte
Mountain Resort provides over 1,100 acres of skiing during the winter months and numerous
recreational activities in the summertime. Additionally, the property is located just minutes from
numerous shopping, dining, and limitless recreational opportunities.
Location: 16 Treasury Rd, Mt. Crested Butte, CO 81225
MLS # 719069
Offered at $4,250,000
Current Cap Rate = 5.29%*
Assuming Valuation of Land at $1M then Cap Rate for Hotel = 6.92%*
* Financials available for review with signed Non-Disclosure Agreement.
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
[email protected]
www.chriskopf.com
Executive Summary
HIGHLIGHTS
•
Ski Shuttle – the CBMR ski shuttle that provides convenient motorized transport for guests
from their vehicles to the base area – also picks up Nordic Inn guests and shuttles them to
and from the lifts.
•
Convenient Bus Service - Convenient bus service is available with a bus stop located
adjacent to the property. The Crested Butte Mountain Express (MX) provides free public
ground transportation services for residents of and visitors to Mt. Crested Butte, Crested
Butte, and the surrounding north valley communities. In addition the RTA Bus provides
free public ground transportation to Gunnison. The Mt. CB Base Area Transit Center is
approximately 2,000 feet from the Nordic Inn at the heart of the base area.
•
Biery-Witt Center - With the pending construction of the $27 Million 500 seat Mt. Crested
Butte Biery-Witt Center (just steps from the Nordic Inn) this facility will bring quality
performing arts, conferences and events to Crested Butte. The benefit of the proximity to
the Nordic Inn is an obvious increased future revenue.
•
The Airport - The Gunnison-Crested Butte Regional Airport (GUC) is located in the city of
Gunnison, just 28 miles from the town of Crested Butte and 31 miles from the town of Mt.
Crested Butte. The year-round airline partner is United Airlines and during the winter
months, residents and visitors can fly on American Airlines non-stop from Dallas/Ft. Worth
and on United non-stop from Houston in Summer and Winter. Additionally, non-stop flights
are offered year-round from Denver International Airport (DIA).
•
The Chalet – The adjacent Chalet is “the 28th room” that accommodates up to 8 guests,
but is actually a separate structure that could easily become an Owner/Operator’s home.
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
[email protected]
www.chriskopf.com
Executive Summary
In 2013 there was a Total Renovation of all
of the Guest Rooms, Registration, Lobby,
Exterior and the recent addition of Guest
Bar Lounge and Massage Room
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
[email protected]
www.chriskopf.com
Executive Summary
SubjectProperty
3.37Acres
146,797sq.ft.
NordicInn+Chalet
28Rooms
Totalof12,779sq.ft.
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
[email protected]
www.chriskopf.com
Executive Summary
FutureSiteof
500Seat
Biery-WittCenter
CrestedButte
SkiResort
BaseArea
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
[email protected]
www.chriskopf.com
Executive Summary
With the leadership and marketing savvy of Ken Stone the Nordic Inn not only went
through a major overhaul of the interior and exterior of the facilities, but also the Guest
experience. This is evident in the Trip Advisor Certificate of Excellence, and #1 ranking
in Crested Butte.
There has also been a major shift in the target guest demographic and the Nordic Inn
now boasts an Average Daily Rate (ADR) of ~$150 per night.
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
[email protected]
www.chriskopf.com
Executive Summary
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
[email protected]
www.chriskopf.com
Executive Summary
TheChalet
TheNordicInn
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
[email protected]
www.chriskopf.com
Executive Summary
3D AERIAL IMAGE
Mt.CrestedButte
GunnisonAirport
31Miles
CrestedButte
Located at the base of Mt. Crested Butte, within a short walking distance to the lifts; it is three miles
from the town of Crested Butte. Gunnison Airport is approximately 30 miles to Mt. Crested Butte.
Grand Junction is 126 miles away and Denver is 200 miles away from Mt. Crested Butte.
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
[email protected]
www.chriskopf.com
Executive Summary
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
[email protected]
www.chriskopf.com
Executive Summary
LOCATION MAP
SUBJECT
PROPERTY
TheChalet
The Chalet is the 28th room and offers 1,800 square feet of living space. This separate structure
sleeps up to 8 people and could become the Owner/Operator’s home.
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
[email protected]
www.chriskopf.com