East Colfax motel sells to local hotel operator for $1.35 million

Denver County

Property Location: 8415 E. Colfax Ave., Denver

Property Description: 20 room-motel with 8,150 sf, YOC 1946, brick/frame

Land Size: 11,375 sf

Sales Price: $1.35M, or $67,500 per room, or $165.64 psf

Reception No.: 2018153105

Closing Date: 11/29

Grantor: In Woo Corp. (Su Yeon Lee, pres.)

Grantee: SS Motel LLC, et al. (Daniel Eugene Kim, mgr.)

Financing: $1.03M SBA loan payable to Bank of Hope, NA

Comments: Listed for sale by Nicholas Chin, 303-570-6657. Property is located at the northwest corner of E. Colfax Ave. & Wabash St., with 91 feet of frontage on Wabash St & 125 feet of frontage on East Colfax Ave. Chin also has the Westerner Motel (next door to 8415 E. Colfax Ave.), located at 8405 E. Colfax Ave., listed for sale @ $1.25 million. This is an 18-room, one- and two-story motel containing 6,847 sf with 15,682 sf of land area. This property sold March 1, 2017, for $850,000 to JS Motel Property LLC (Se Young Han, mgr.)

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.