Former Restaurant & Dispensary | 315 E 1st St
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Former Restaurant & Dispensary 315 E 1st St
4,608 SF Retail Building Parachute, CO 81635 $995,000 ($216/SF)
Investment Highlights
- 4,608 SF Retail Building | Downtown Location |Excellent Interstate 70 Frontage | Extensive Parking
- Extensive Allowable Uses | OTC - Old Town Center District Zoning | Former Dispensary and Former Restaurant
Executive Summary
• The property is a 4,608 SF retail building located in downtown Parachute
• Suite A - Dispensary with basement - apx. 1,872 SF
• Suite B - MIP/Lab/Kitchen/Former Restaurant - apx. 2,736 SF
• The site is along the primary thoroughfare in downtown Parachute, nearby tenants include: Napa Auto Parts, Family Dollar, McDonald’s and others
• The original building was constructed in 1955 and an expansion/remodel was constructed in 1997
• The dispensary suite was fully remodeled in 2015 with approximately $200K in improvements completed (1 restroom)
• The kitchen/restaurant suite was fully remodeled in 2020 with approximately$200K in improvements completed (2 new restrooms)
• Renovations of Dispensary and Kitchen/Restaurant allowed for the building to be fully brought up to date to current building code requirements for the permitted use changes
• Suite A - Dispensary with basement - apx. 1,872 SF
• Suite B - MIP/Lab/Kitchen/Former Restaurant - apx. 2,736 SF
• The site is along the primary thoroughfare in downtown Parachute, nearby tenants include: Napa Auto Parts, Family Dollar, McDonald’s and others
• The original building was constructed in 1955 and an expansion/remodel was constructed in 1997
• The dispensary suite was fully remodeled in 2015 with approximately $200K in improvements completed (1 restroom)
• The kitchen/restaurant suite was fully remodeled in 2020 with approximately$200K in improvements completed (2 new restrooms)
• Renovations of Dispensary and Kitchen/Restaurant allowed for the building to be fully brought up to date to current building code requirements for the permitted use changes
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,608 SF
Building Class
C
Year Built/Renovated
1955/2020
Price
$995,000
Price Per SF
$216
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
0.62 AC
Zoning
OTC - Old Town Center District
PROPERTY TAXES
| Parcel Number | R370449 | Improvements Assessment | $45,020 |
| Land Assessment | $19,220 | Total Assessment | $64,240 |
PROPERTY TAXES
Parcel Number
R370449
Land Assessment
$19,220
Improvements Assessment
$45,020
Total Assessment
$64,240
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Former Restaurant & Dispensary | 315 E 1st St
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