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The Albany Lodge 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 food, lodging, bar, fuel, package liquor, convenience store, and snowmobile, ATV and bicycle rental.
The Snowy Range is one of the finest 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. 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 a canyon at the base of the Snowy Range Mountains with majestic peaks to 12,000 feet. 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 just over two 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, Colorado.
LOCATION
Albany Lodge 1148 Highway 11 Laramie, Wyoming 82070. From Laramie take Highway 130 W to Highway 11 Southwest to Albany.
LAND IMPROVEMENTS
The land component consists of 2.26 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: 4007 square foot wood framed lodge which houses the restaurant, event room, bar, convenience store, office and large deck and grassy backyard.
Motel: 3,120 square foot two story wood frame structure with nine 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 five $130/night
Cabin: one bedroom with a queen bed, bathroom and kitchenette/living room with a hide-a-bed. Sleeps one to four. Pets allowed. $110/ night
Large House: two stories with two bedrooms with queen beds, a loft with four twin beds, and two hide-a-beds in the great room. The house has a kitchen, dining room, great room and two bathrooms. $350/night for one - two nights, $295/night with a three night or longer stay.
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. $225/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
OTHER
In addition, the current owner manages two properties under which they can utilize the housing for up to 17 people and then pay a portion of the revenue to the owner.
Rental Office/Shop: 984 square feet.
Rental Storage: 841 square feet.
Storage Barn: 960 square feet.
The property and facility has a "pillow count" of 90 sleeping spaces. The restaurant is full service and the liquor license is a full license allowing bar, package, and outdoor service.
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.
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 owner. The financials are detailed and available to qualified buyer prospects.
"A brief synopsis of the financial statements is as follows:"
Revenue for the last five years grew each year from just over $700,000 in 2004 to just over $1,200,000 in 2008. (14.4% growth/year over last five years)
Income is generated from the following major service sectors and expressed as a percent of total income (% of Total Income):
Rental Operation (snowmobiles, ATVs, motor cycles and bicycles) - (26.5%)
Lodging- (20.7%)
Food Sales – (19.4%)
Bar - (11.5%)
Gas – (11.2%)
Convenience Store – (4.9%)
Part Sales – (3.5%)
Other – (2.3%)
Cost of Goods Sold was 40.4% of revenue over the last four years
Net Income has averaged 17.55% of revenue over the last four years
Revenues and Bookings in 2009 are ahead of prior years
SUMAMRY
Albany Lodge 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. The operation is appropriately staffed for success and succession. The quality of the property, people and mountain esthetics is seen throughout. If you are considering a lifestyle change and want to work in the mountains or simply want to own a good business investment in a great area then we look forward to showing you a great business property.
TERMS
Serious inquires only. Owner financing is available to qualified buyers. Please consult the listing broker regarding qualification requirements and additional information.
This offering is subject to errors, omissions, withdrawal without notice and information is deemed from sources deemed reliable, but the accuracy thereof, including any plats or other information, is not guaranteed. Please seek legal counsel in considering this investment.
Rental Unit Inventory:
Not included in the sale is the rental unit inventory which consists of 45 to 50 snowmobiles and 10 to 12 ATVs depending upon the time of year. The rental unit inventory cost varies substantially during the year as it is replaced frequently. Therefore, most of the inventory is only one or two years old. Inventory cost varies during the year of $200,000 to $400,000. The inventory is available separately.
Listed by Mason & Morse Ranch Company and in cooperation with RE/MAX Action Brokers-Commercial.
Remax Visual Tour Link
Albany Lodge Website: http://www.albanylodge.com
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LOCATION: Albany, Wyoming |
PRICE: $2,700,000 (excluding rental unit inventory due to seasonal inventory changes) |
CONTACT: John Stratman |
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1614 Grand Avenue Glenwood Springs, CO 81601
Phone: (970)928.7100 or toll free (877)207.9700
Fax: (877) 613.6363 E-mail: sales@ranchland.com
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