Glenwood Springs, CO 81601,818 Grand Avenue

$1,362,000

$1,500,000

9.2%
Est.Price: ?

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Est. payment /mo

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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Aspen Glenwood Springs MLS (AGSMLS)
Listed by Coldwell Banker Commercial Prime Prop.
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600 East Hopkins Ave Suite 304, Aspen, Colorado, 81611, United States

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