614 Rose Street

Completely remodeled and converted back to the St James Hotel in 2024! The St James Hotel is Georgetown's newest and nicest hotel opened in July 2024 and has quickly ramped up the 5 star reviews! We are looking for a buyer to own and operate this magnificent property. The upside is definitely there as the rooms are currently undervalued and the cheapest in town compared to size and amenities. This property could easily be worth $2M in the span of five years based on income alone. The financials support the price at an 10 cap rate. The building has a brand new fire sprinkler and fire alarm system to protect all the new renovations and furnishings along with the guests!
This property does not need daily hands-on operation, and can be run remotely with some local contract cleaning services. We operate currently with remote check-in, provide a light breakfast and fully stocked shared kitchen for guests. The boutique hotel is the highest and best use for this property and it has the history to back it up.
Appraised June 1 for $1.52M. Our first month open - July 2024 we were 80% occupied. August and September were about 70%. October was slightly less and November is only around 50% but that is to be expected. December and January were over 80%. Current ADR is $145, and expenses are very reasonable to operate. 2025 ADR should be closer to $175. All the bathrooms, fixtures, lighting, plumbing, electric, kitchen, appliances, etc. are all brand new. The boiler is not new but has been modified to evenly heat all suites and common areas. Adding a liquor license is in process and a hot tub, which will increase the ADR and revenue. A new sewer line was just installed.
There is also 150SF+ cute additional building that could be remodeled into another suite. SBA Loan is assumable and Seller will offer an owner carry 2nd loan if needed.
Go to stjamescolorado.com for suite info!