1607-9 US Highway 34 - Specialty FOR SALE


Drake, CO 80515 | 
$3,250,000 USD
970-413-1182
1607-9 US Highway 34, Drake, CO for Sale
$3,250,000 USD
Specialty - FOR SALE
1/25
null | 7.6% Cap Rate

1607-9 US Highway 34
Drake, CO 80515


HIGHLIGHTS

  • Unique Investment Profile — combines substantial acreage, river frontage, existing campground infrastructure, residential accommodations and commercia
  • Diversified Existing Improvements — residential structures, commercial/camp-store building, rustic cabins, outbuildings, RV sites and tent-camping are
  • 12 RV Sites + Approximately 40 Tent Sites — established campground infrastructure provides an immediate foundation for recreational hospitality
  • 2,501 SF Main Residence — four bedrooms, 2.5 bathrooms, office and open living/dining areas with farmhouse-style finishes.
  • Renovated Residential & Commercial Improvements — 818 SF two-bedroom residence plus a 609 SF commercial building incorporating living quarters, recrea
  • Two Rustic Guest Cabins — a 628 SF cabin with kitchen/dining, loft bedroom, bathroom and outdoor living areas, plus a 181 SF cabin with kitchenette

OVERVIEW

Drake Campground presents a rare opportunity to acquire approximately 36 acres of riverfront property along the US Highway 34 corridor in the heart of Northern Colorado’s mountain recreation market. The property combines an established campground operation with multiple residential structures, rustic cabins, a potential commercial/campstore building, RV accommodations and tent camping, creating a diverse platform for both immediate operations and future repositioning. The existing improvements include a 2,501-square-foot main residence, an additional renovated 818-squarefoot residence, a 609-square-foot commercial building with living quarters and garage/shop space, and two rustic cabins. The campground component includes 12 RV sites with electricity and approximately 40 tent sites, complemented by restrooms, a playground and sports court, and large shaded areas for recreation. The main residence features four bedrooms, 2.5 bathrooms, an office and open living/dining areas, providing flexibility for owner/manager housing, vacation rental use or guest accommodations. The property’s setting along the river and Highway 34 provides a compelling base for a destination campground, outdoor recreation resort, retreat venue or expanded hospitality concept. In addition to the existing campground and lodging operations, the property offers potential upside through a country store, recreational equipment rentals, events, music and camps, as well as potential development of additional accommodations such as yurts or a custom home site on land across the river. These opportunities are conceptual and subject to verification and applicable approvals. The pro forma projects approximately $427,333 in potential annual gross revenue from RV sites, tent camping, residential/cabin rentals and potential event activity. After approximately $180,340 in projected operating expenses, the analysis indicates potential NOI of approximately $246,993, corresponding to a 7.60% capitalization rate at the $3,250,000 asking price. Importantly, these figures are pro forma projections rather than historical operating results, and several revenue assumptions—including events—are identified as potential and subject to verification. Strategically located between Northern Colorado’s Front Range communities and the Estes Park/Rocky Mountain recreation corridor, Drake Campground offers investors a combination of land, existing improvements, diversified hospitality revenue and value-add potential that is difficult to replicate. The property is approximately 31 minutes from downtown Loveland, 47 minutes from Fort Collins and 77 minutes from Denver International Airport, providing access to both regional population centers and Colorado’s mountain tourism market.

FOR SALE DETAILS

PRICE

$3,250,000 USD

PRICE/SF

$292 USD /SF

CAP RATE

7.6%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Specialty

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1906

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

35.91 AC

LAND SF

1,564,240 SF

ZONING

Commercial

APN/PARCEL ID

15032-00-038

ASK ABOUT THIS PROPERTY

Rico DevlinLC Real Estate GroupMore Info
970-413-1182

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Rico DevlinLC Real Estate GroupMore Info
970-413-1182

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.