Knights Inn motel lands new owner for $7.15 million, or $50,000 per unit

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Arapahoe County

Property Location: 14200 E. Sixth Ave., Aurora, “Knights Inn”

Property Description: 143-unit motel w/ 40,160 sf in five buildings, YOC 1982, stucco construction

Land Size: 2.418 acres

Sales Price: $7.15M, or $50,000 per unit, or $178.04 psf

Reception No.: D7124490

Closing Date: 11/1

Grantor: Im & Lim Inc., Hyon IK Im

Grantee: Kings Group Inc. (85%) & K&C LLC (15%), Kyeong Hee Kim, pres.

Financing: $4.91M payable to Hanmi Bank, SBA loan

Comments: See APN: 1975-07-2-01-043. Sold for $4.17M in January 2014.

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 [email protected]

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