JKB Ranch Colorado, USA
JKB Ranch Colorado
Location: Villa Grove Colorado
Asking Price: $1,950,000
Total Proposed Purchase Renovation Cost: $3,450,000
Distance to nearest airport: 30 minutes to private jet airport/ 3 hours to Denver International Airport
Current number of rooms: 12 contained in the main lodge and 5 rustic cabins
Year Built: 1995
Basics: 160 secluded acres bordered by BLM land , 7000 sq ft lodge, 2- two bedroom staff houses, pond, chapel, barn, 5 cabins
Current Status: Fee-simple property, previously used as a not for profit youth retreat, the property has sat idle for several years and is receiving basic upkeep and maintenance. Owners live in Florida
Amenities: Main Lodge with 12 guest rooms with 4 shared bathrooms, Sports court, ROPES Course, Pond, Barn, Paddock and Stables, Chapel, Two Houses, Exercise/ Game Room, Commercial Kitchen, 5 Rustic Cabins
Concept: Rebrand the property to The Resort at Petersen Creek and operate as an all-inclusive eco-resort adding 12 luxury tent accommodations, adding private baths to the lodge rooms and adding a pool/spa complex. Total room count would be 20 as some lodge rooms would be eliminated to build out the private bathrooms.
Amenities to add: Swimming pool and spa; bar in the lodge; 12 Luxury Tent Accommodations; conversion of rustic cabins to activities hut, treatment rooms for Massage, game room and sauna/ steam room; add solar power, greywater collection and treatment process; add luxurious private bathrooms for all lodge rooms.
Why this project works:
Existing infrastructure priced below replacement costs, plenty of space to expand and grow the operation, growing destination market.
The JKB Ranch Retreat would be rebranded as The Resort at Petersen Creek to include a combination of lodge rooms and luxury tent accommodations.
With a listing price of $1,950,000, the property is reportedly under appraised value. An additional investment of approximately $1,500,000 for improvements and expansion would bring the property to a present valuation of approximately $3,450,000. With estimated revenues at the end of year ten exceeding $2,900,000, the expected value of the property in year 11 will be approximately $5,600,000, netting a pre-tax gain of $1,578,000 if the property were sold.
Interested to find out more about the JKB Ranch?
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Lost Beach Resort Westmoreland Jamaica
Lost Beach Resort Jamaica
Location: Lost Beach, Westmoreland, Jamaica
Asking Price: $1,100,000
Distance to nearest airport: 90 minutes
Number of rooms: 14 rooms and 3 beach front cabins/ cottages
Year Built: 1998
3 Acres with 800 feet of beach frontage, 5 main buildings and three cottages/ cabins on the beach
Current Status/ Use: The Lost Beach Resort was closed in 2011 and is being maintained. The current owner used it for a family retreat and did not invest the effort in a real resort operation therefore it never took hold. The resort is for sale by owner.
Amenities: Waterfront, Beach, Pool and spa, restaurant, gift shop, bar, library, conference room
Concept: Operate as an all-inclusive eco-resort adding 3 additional beach front rustic cottages to bring the room count to 20; 6 cottages and 14 ocean view suites
Amenities to add: Tennis court, remodel pool to transform it to an infinity pool with swim up bar, treatment rooms for massage, add 3 beachfront cottages, enhance the gardens, add a watersports hut, room and cottage upgrades, restaurant and bar upgrades, solar power and fresh/ greywater water system, approximately $300,000 in deferred maintenance
Why this project works:
Infrastructure is all in place. Due to non-operation, resort can be re-positioned without effecting current operation. Secluded beach front location like no other property on the Island. $1.5 million needed for renovation and upgrades.
The Lost Beach Resort offers tremendous upside opportunity as the facility is generally in place to make an exclusive, all inclusive resort offering an off the beaten path destination in a country that is well visited and highly regarded as a destination around the world. Jamaica provides excellent airline connections, a distinct music, language and food culture and a rich history. The resort has been shuttered since 2011, although maintained over the past years, and was never properly marketed and run as a resort between 1998 and 2011. The name evokes a remoteness and exclusiveness and even the toll free number, 1-877-get-lost, gives a sense of adventure and uniqueness not found in other parts of Jamaica. The current owner estimates that the resort needs about $300,000 to get everything back into operational shape. We estimate a further cost of $550,000 will be needed to create the all-inclusive resort under the Felicity Brand. These monies will be used to add 3 more beachfront cottages, add an upgraded fresh water and greywater system, build out two tennis courts with cabana, improve the gardens and grounds, add security features, build out a yoga/ meditation/ spa space, add watersport facilities and remodel the pool area with spa and swim up bar. There is an opportunity to convert the two and three bedroom units into separate 1 bedroom units thusly increasing the room counts. There is also an undeveloped lot which could accommodate further room and facility expansion in the future, or be developed as another business. The goal is to get the resort to a $335 per night average rate per couple at a 73 percent occupancy at the ten year mark resulting in $1,792,000 in room revenue with an additional $60,000 coming from spa services, tours and excursions, gift shop and premium beverage and cigar sales.
Interested to find out more about the Lost Beach Resort?
Contact us today!