145 E College Dr
4,840 SF 100% Leased Retail Building Durango, CO 81301 $1,875,000 ($387/SF) 4.30% Cap Rate
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INVESTMENT HIGHLIGHTS
- Currently three leased spaces with possibility of reconfiguration
- Building is well maintained by both owner and tenants
- Steps away from College Drive and Main Avenue in downtown Durango
EXECUTIVE SUMMARY
The Sunburst building is steps away from the vibrant crossroads of College Drive/ Main Ave. and one short block to the historic Durango-Silverton train depot. The train attracts 225,000 yearly passengers and contributes $525,000,000+ to our local economy. This dynamic building is prime for redevelopment or long term investment. The building has been very well maintained by the owners and tenants, and enjoys a long history of stable occupancy with three renovated leased spaces, two at street level and one upstairs (the businesses are not for sale). There are options to reconfigure the space for more units or merge for larger spaces. The attractive exterior presents unparalleled street and passerby visibility with large showcase windows and lighted space for signage.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
4,840 SF
Building Class
C
Year Built
1948
Price
$1,875,000
Price Per SF
$387
Cap Rate
4.30%
NOI
$80,625
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.85
Lot Size
0.06 AC
Opportunity Zone
Yes
AMENITIES
- Bus Line
- Corner Lot
- Signage
- Tenant Controlled HVAC
- Accent Lighting
- Air Conditioning
Walk Score®
Walker's Paradise (92)
Bike Score®
Biker's Paradise (97)
NEARBY MAJOR RETAILERS
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PROPERTY TAXES
Parcel Number | R024654 | Improvements Assessment | $296,450 |
Land Assessment | $100,760 | Total Assessment | $397,210 |