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1485 Florida Road , 17 Units 4 Buil

Durango, CO 81301
  • $13,200,000
  • STATUS: Active
  • ON SITE: 424 Days
  • MLS #: 787543
UPDATED: 34 min ago
$13,200,000
  • 0
    BEDS
  • 3.35
    ACRES
  • 10
    BATHS
  • 9
    1/2 BATHS
  • 29,281
    SQFT
  • $451
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
2009
County:

School Ratings & Info

Listing courtesy of Keller Williams Realty Southwest Associates, Llc: 970-247-3840.


Description

Priced below replacement cost the entire East Animas & Florida Commercial Center is being offered including the undivided majority ownership interest in these Class "A" Buildings with onsite paved parking. There are 17 individually deeded Condominium Units that total 29,281 sq ft in over 31,000 sq ft of building area including the common lobbies, hallways, and elevators. Currently 13 Commercial Condominiums are leased, plus 4 residential Condominiums located on the 3.35 acre P.U.D., at the Northeast corner of the City of Durango at the "CR 250 and Florida Road Stoplight". This busy commercial center features neighborhood commercial businesses which include Domino's Pizza, San Juan Regional Medical Center, Salon, Macho's Restaurant, Star Liquor, Engineers, Yoga Durango, Physicians, Insurance and Financial Advisors, plus there is adjacent 0.483 acre development parcel previously approved with plans for a 16 unit residential condominium project. The 41,000+ sq ft of concrete and steel constructed buildings, built in 2009, are in good condition, and have long term rental history with low vacancy. 2022 monthly rent is over $45,000 per month gross from the commercial triple net leases, plus residential rental agreements. Rents are less than market rates and are increasing 3% per year, plus there is additional revenue available from 2 bedroom residential unit A203 the owner keeps vacant for friends and family that could generate additional $1,600 per month. Call broker for details and do not show property without advance notice with Broker approval.

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The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2022. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer

Real Estate listings held by companies other than Dalynn Trujillo | Bluebird Real Estate contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2022-12-04T15:56:21.7.
www.dalynntrujillo.com/homes/122108654
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1485 Florida Road , 17 Units 4 Buil Durango, CO 81301

  • Price: $13,200,000
  • Status: Active
  • On Site: 424 Days
  • Updated: 34 min ago
  • MLS #: 787543
0
Beds
10
Baths
9
½ Baths
3.35
Acres
29,281
SQFT
$451
$/SQFT
2009
Built
Neighborhood:
East Anims Vill
County:
La Plata
Area:
Durango In Town
Property Description
Priced below replacement cost the entire East Animas & Florida Commercial Center is being offered including the undivided majority ownership interest in these Class "A" Buildings with onsite paved parking. There are 17 individually deeded Condominium Units that total 29,281 sq ft in over 31,000 sq ft of building area including the common lobbies, hallways, and elevators. Currently 13 Commercial Condominiums are leased, plus 4 residential Condominiums located on the 3.35 acre P.U.D., at the Northeast corner of the City of Durango at the "CR 250 and Florida Road Stoplight". This busy commercial center features neighborhood commercial businesses which include Domino's Pizza, San Juan Regional Medical Center, Salon, Macho's Restaurant, Star Liquor, Engineers, Yoga Durango, Physicians, Insurance and Financial Advisors, plus there is adjacent 0.483 acre development parcel previously approved with plans for a 16 unit residential condominium project. The 41,000+ sq ft of concrete and steel constructed buildings, built in 2009, are in good condition, and have long term rental history with low vacancy. 2022 monthly rent is over $45,000 per month gross from the commercial triple net leases, plus residential rental agreements. Rents are less than market rates and are increasing 3% per year, plus there is additional revenue available from 2 bedroom residential unit A203 the owner keeps vacant for friends and family that could generate additional $1,600 per month. Call broker for details and do not show property without advance notice with Broker approval.
Exterior Features

Acreage Range 2-4.99 Lot Dimension Tbd Parking Paved Stories 1 Street Description City/TownPaved Water Well No Waterfront YN No

Interior Features

Cooling Yes Finished Sq Ft 29281 Foundation Concrete Heating Fuel Source Natural Gas Heating System1 Gas Loading Dock Yes Main Sq Ft 29281 One Quarter Baths 0

Property Features

Books Available No Cam Yes Cap Rate Percent 4.5 Covenants Yes Current Use General OfficeRestaurant Enterprise Zone No Existing Utilities ElectricNatural Gas Fixtures Included No Gross Annual Expenses 22000 Gross Scheduled Income 540000 Inventory Included No Lease Included Yes Monthly Cam Charges Tbd Monthly Insurance Charges Tbd Net Operating Income 518807 New Construction YN No Oa Fees Tbd Oa Fees Frequency Monthly Oa Name East Animas & Florida Owner's Association Owners Association Yes Possible Property Use General OfficeMixed-UseRetail StorefrontShowroomSpecial Use Railroad Siding Spur No Real Estate For Sale Yes Reo Lender Owned No Tax Year 2021 Total Electric Meters 17 Total Gas Meters 17 Total Taxes Tbd Total Water Meters 6 Type Multi-Use Variable Rate Yes Water Rights No Zoning Type Mixed UsePlanned Unit Development

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2022. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer

Real Estate listings held by companies other than Dalynn Trujillo | Bluebird Real Estate contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2022-12-04T15:56:21.7.
 
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Dalynn Trujillo | Bluebird Real Estate
211 Elk Avenue
Crested Butte CO, 81224
Listing courtesy of Keller Williams Realty Southwest Associates, Llc: 970-247-3840.