Listed by Madison Commercial Properties Ltd
$7,000,000
Wingate Hotel by Wyndham Greenwood Village/DTC
Details
Property Type Hospitality
Sub Type Hotel
Square Footage 60,689
Keys 86
Year Built 2004
Stories 3
Acreage 2.720
Zoning MC
Parking Spaces 110 spaces
Parking per 1,000 SqFt 1.81
Investment Type Value Add
Ownership owner ocupied
Sale Condition For sale by owner
Hospitality | 86 Keys
Marketing description
The Wingate hotel is a quality select service hotel located in a prime suburban location, a stone's throw from the Fiddler's Green amphitheatre in the Denver Tech Center area of southeast Denver. The limited service hotel has 86 oversize rooms, with 17 suites, indoor pool and jacuzzi, oversize exercise room, sundry center, guest laundry, and large meeting rooms. The property was developed in 2004, and has been continuously updated. The hotel has upside through renovation and rebranding opportunities.
The Wingate Hotel is located in prestigious Greenwood Village, a southern suburb of the Denver metro area. The area is associated with the Denver Tech Center, the dominant commercial office submarket of the city. The DTC employs approximately 35,000 people in 1,000 companies occupying over 14 million square feet of office space. The hotel is located virtually across the street from Fiddler's Green Amphitheater, a 17,000 seat capacity venue that is one of the metro area's largest outdoor music facilities.
Investment highlights
- High quality select service hotel with versatile construction layout
- Excellent amenities including indoor pool, jacuzzi, oversize exercise facilities, meeting rooms, sundry, and guest laundry
- Free hot breakfast
- Rebranding opportunity as Hyatt Select
- Rebranding opportunity as Best Western Plus
- Rebranding opportunity from IHG as Garner
- Rebranding opportunity for Comfort Suites
- Excellent in fill location near Fiddler's Green amphitheatre
- Historically a good revenue performer but has fallen behind competition due to a need for renovation
- Denver Tech Center and Greenwood Village office markets are undergoing a significant Price reset. As a result Lower office rents will increase occupancies in the future
- Possible conversion to extended stay brand, such as Candlewood suites
- Excellent in fill location near Fiddler's Green amphitheatre
- High potential projected Revenue through renovation
Listing Contacts
Listed by Madison Commercial Properties Ltd
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