$1,362,000
$1,500,000
9.2%For more information regarding the value of a property, please contact us for a free consultation.
3,405 SqFt
SOLD DATE : 03/11/2021
Key Details
Sold Price $1,362,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 3,405 sqft
Price per Sqft $400
Subdivision Townsite Of Glenwood Springs
MLS Listing ID 165950
Sold Date 03/11/21
Originating Board Aspen Glenwood MLS
Year Built 1925
Annual Tax Amount $10,456
Tax Year 2019
Lot Size 2,500 Sqft
Acres 0.06
Property Description
THIS LISTING HAS BEEN UPDATED - Investment Opportunity! Property is located in the Historical District of Glenwood Springs. Owner is currently remodeling building into a high-end Class A Medical office. The owner will lease back the building for 10 years with a personal guarantee at a 7% cap rate. Base rent starts at $32/sf with built in escalators. The owner will start paying rent as soon as the building has been finished and ready for occupancy but no later than summer 2021. The owner is an established dental/oral surgeon with 20 +years in practice. He is expanding to GW because of the unfulfilled demand for his services. Currently, there are no other investments like this one Note: The interior photos are examples of what the finished product will look like when completed.
Location
State CO
County Garfield
Community Townsite Of Glenwood Springs
Area Glenwood Springs
Zoning M2
Direction Exit I-70 to downtown Glenwood Springs. Property is located on north side of Grand Avenue.
Exterior
Utilities Available Natural Gas Available
Roof Type Other
Building
Water Public
Others
Tax ID 218509412005
Acceptable Financing Cash
Listing Terms Cash
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