Acquition Opportunity for Existing 130-Motel or Multi-Family Conversion
Opportunity to acquire the Star Motel, a 130-room independent, economy motel built in 1983, located at 3850 N Peoria St., Denver, CO and the vacant lot behind the motel located at 3700 N Peoria St., Denver, CO. The Star Motel site is zoned I-B and sits on a 87,721 SF parcel with 80 parking spots and the vacant lot has a 43,195 SF footprint with I-B zoning. The asset is being offered unencumbered by debt and management.
The property is conveniently located near excellent shopping, recreation, entertainment and dining. The property has direct access to I-70 via Peoria St. and is in close proximity to Downtown Denver and Denver International Airport.
A buyer has the opportunity to continue operating the property as a motel or convert the existing structure to multi-family housing. The vacant lot is ripe for development with a variety of uses. The vacant lot can be used for mixed use retail with multi-family housing on top or redeveloped into an extension of the motel available under its existing I-B zoning.