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Land for Sale


Property ID:1052586

Land for Sale by Mason and Morse Ranch Company


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Land Details

Acres: 2.5 Price: Auction
Type: Commercial County: Albany
Address: 1148 Highway 11 Nearest City: Laramie
State: Wyoming Zip: 82070

Land Description

The Albany Lodge is a destination resort property offering is a real estate backed business opportunity. The business caters to recreation users and provides a variety of services to snowmobile, ATV and motor-cycle riders, bike riders and other recreation users. The lodge is open 365 days a year and services include lodging, food, bar, fuel, package liquor, convenience store, and snowmobile, ATV, jeep and bicycle rental.

The Snowy Range Mountains are one of the most popular snowmobiling areas in the world with over 225 miles of groomed trails and thousands of acres of open meadows. For the ATV or bicycle enthusiast there are hundreds of miles of trials for beginners to advanced riders. Jeep rentals are also a growing segment of the rental market at Albany Lodge. Stunningly beautiful the terrain consists of deep canyons, mountain creeks, alpine meadows, lakes and high peaks and abundant wildlife.

Albany Lodge is located on the edge of the Medicine Bow National Forest and is tucked in at the base of the Snowy Range Mountains with majestic peaks to 12,000 ft. The lodge is not only a getaway, but also a hideaway for all seasons. Whether it is winter sports, summer camping and fishing, or fall hunting, Albany Lodge is the ultimate recreation user destination. The lodge and improvements sit on 2.5 acres. The lodge hosts weddings, anniversaries, reunions, business club meetings and other large gatherings. The property is located in south central Wyoming, 32 miles west of Laramie, Wyoming and 150 miles northwest of Denver, CO.

Laramie, Wyoming - Scheduled for an online auction on May 29 - 31. Please call John Stratman for the auction details. (303) 912-8807

Land and Improvements:

The land component consists of 2.5 acres where the lodge, motel, rental office/shop, rental storage, bunkhouse, house, cabins, and storage barn are located. The land is improved with a waste water treatment plant, public water system and parking lot. Adjoining are two homes on home lots known as the Aspen and Rose houses.

A brief description of the improvements is as follows:

Lodge: 4,007 square foot wood framed lodge which houses the restaurant, event room, bar, convenience store, office and large deck and grassy backyard. The restaurant and bar having capacity for 132 people.

Motel: 3,120 square foot two story wood frame structure with 9 rooms plus one laundry unit, $85 per night for two persons plus $15 per night each additional person

Suites: two rooms with a queen bed, a twin bed, hide-a-bed, bathroom, and coffee pot. Sleeps up to 5 $130/night

Cabin: one bedroom with a queen bed, bathroom and kitchenette/living room with a hide-a-bed. Sleeps 1 to 4. Pets allowed. $145/ night

Brown House: two stories with two bedrooms with queen beds, a loft with 4 twin beds, and two hide-a-beds in the great room. The house has a kitchen, dining room, great room and two bathrooms. $275/night

Rose House: three bedrooms with two queen sized beds, two twin beds, and a hide-a-bed in the living room. This house has a kitchen, dinning room, and two bathrooms. $195/night

Aspen House: three bedrooms with one queen, one full, one twin, and one hide-a-bed in the living room. It has one bathroom, kitchen, living room, and dining room. $175/night

In addition, Albany Lodge manages several other properties (Trapper and Rancher cabins and Aspen Hollow, Hide Out and Box Car homes) under which they can utilize the housing for up to 30 people and then pay a portion of the revenue to that owner.

Rental Office/Shop 1,825 sf.
Rental Storage brand new 1,300 sf
Storage Barn 960 sf.

The property and facility has a pillow count of 90 sleeping spaces, plus managed pillow count of 30 pillows which allow a sleeping capacity of 120 spaces. The restaurant is full service and the liquor license is a full license allowing bar, package, and outdoor service.


Operations:

The property was purchased by the current owner in 2002. The current owner built the new lodge, motel, replaced the septic system, remodeled the rental unit building as well as up graded many of the lodging units. The operation is fully staffed including a general manager cost which is reflected in salary costs. The operation works for either an owner/operator or absentee investor owner. The financials are detailed and available to qualified buyer prospects.

A brief synopsis of the financial statements is as follows:

Revenue has grown each year from $700,000 in 2004 to $1,499,000 in 2011. (14.2% growth/year over last seven years)

Income during 2011 was generated from the following major service sectors and expressed as a percent of Total Income (% of Total Income):

Rental Operation (snowmobiles, ATVs, jeeps, cycles) - (24.0%),
Lodging - (22.2%),
Food Sales - (18.8%),
Bar - (12.3%),
Gas - (11.7%),
Convenience Store - (3.9%),
Part Sales & Permits - (7.1%).

Cost of Goods Sold (2011) was 38.6% of Revenue

Operating Expense (2011) was 43.2% of Revenue

Net Income (2011) was 18.2% of Revenue

Net Income for the 9 month ending Sept. 30 2010 compared to the same period in 2011 increased by 17.6%.

The ongoing increase in revenue and net income are a testament to the quality and success of this business.

Tangible and Intangible Features

The not so obvious assets of Albany Lodge are many including:

Physical plant systems including water, electrical, waste water, fuel, shop services and others are in top condition and add value to the property
The lodge has a great reputation, locally and spreading over several states, resulting in a lot of return customers, referrals, and future reservations.
The lodge is the only commercial zoned business within 15 miles.
The fire department is directly across the road from Albany Lodge.
The lodge has a great staff of hardworking, efficient, and friendly group of people
The Management team is totally capable of running the day to day operation.
The restaurant is equipped with mostly newer equipment including walk in cooler, backbar, compressors, keg cooler, refrigerators, freezers, steam table, salad bar and buffet table and a new state of the art stove-hood system.
On-going business concern with exceptional location and top notch facilities which over time has become a destination recreation resort.
Albany Lodge is the only full service recreation facility and one of only a few facilities offering fuel and food service for the Snowy Range recreation user.

Summary:

Albany Lodge, a destination resort, offers a tremendous on-going mountain recreation business, easily operated, of known reputation, quality improvements, and excellent location right in the heart of the Rocky Mountains. Albany Lodge has a significant number of repeat customers as well as new customers each year. The operation is appropriately staffed for success and succession. The quality of the property, people and mountain esthetics is seen throughout. Whether you are an owner operator or an investor, this business is simple to manage and operate and the investment is backed up by the value of the assets. Not often does an asset backed business opportunity come to the open market that is throwing off 18% Net Income and priced at about a 9% cap rate. We look forward to showing you this great business income property.

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Contact Information

Company: Mason and Morse Ranch Company
Contact Name: Bart Miller
Email: Click here to email contact
Phone Number: 970-928-7100
Fax: 877-613-6363
Toll Free: 877-207-9700
1614 Grand Ave
Glenwood Springs, CO 81601


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