Suburban Studios Westminster Denver North, CO

Listing Agents

Sean Banilivy
T | 516.456.7525
sbanilivy@paramountlodging.com

Subu Thiagarajan
T | 510.205.7931
subu@paramountlodging.com
DRE#01891134

Detailed Information
Property Highlights
  • Fee-simple interest in the institutionally-owned and third-party managed 128-room Suburban Studios Westminster Denver North
  • Property is being offered unencumbered of management and debt and at a substantial discount to replacement cost in the highly coveted Denver MSA
  • The subject is running -85% occupancy and has strong in-place yield, making the hotel readily financeable
  • Current ownership has invested approximately $600K / $4.5K per key into the asset, including brand new LVP flooring, painted rooms, mattresses, and specific soft goods
  • Excellent proximity to both the I-25 and Route 28 highways, with upwards of 100,000 vehicles passing the location daily
  • Ability to relicense with Choice Hotels with a new long-term franchise agreement or convert to an alternative brand
  • Proximity to all core local Westminster demand generators, including Ball Corporation, Maxar, Trimble, St. Anthony North Health Campus, SCL Health and College of Mines
  • Ideally situated in Denver MSA, proximate to all broader demand generators such as Anadarko Petroleum, Halliburton, Noble Energy, Lockheed Martin, Rocky Flats National Wildlife Refuge , Butterfly Pavilion and Downtown Denver
  • Extended-stay product are widely revered as recession-proof and remain a favorite investment sector amidst private and public investors
  • Readily accessible to Denver International Airport, third-busiest airport in the world, which estimate 2023 with between 78-79 million passengers, four to five million passengers above the original prediction
  • Product with fully equipped kitchens is ideal for potential residential conversion or other alternative use pending zoning and municipality approval
  • Extended stay market outperformed all other lodging sectors amidst the COVID recovery and is ideally positioned for forward-looking growth
  • Denver Airport is in the midst of a $1.3B modernization designed to accommodate forecasted volume growth of ~145% in the coming years
Location

"*" indicates required fields

Name*
This field is for validation purposes and should be left unchanged.