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1485 Florida Road , 17 Units 4 Buil

Durango, CO 81301
  • $13,200,000
  • STATUS: Active
  • ON SITE: 21 Days
  • MLS #: 787543
UPDATED: 18 min ago
$13,200,000
  • 0
    BEDS
  • 3.35
    ACRES
  • 10
    BATHS
  • 9
    1/2 BATHS
  • 26,545
    SQFT
  • $497
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
2009
County:

School Ratings & Info

Listing courtesy of Keller Williams Realty Southwest Associates, Llc.


Description

East Animas & Florida Commercial Center is offering a majority ownership interest in this Class "A" Building. There are 17 individually deeded Condominium Units that total 26,545 sq ft with over 30,000 sq ft of buildings. Currently 13 Commercial Condominiums are leased, plus 4 residential Condominiums located on over 3.35 acres 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, Insurance and Financial Advisors, plus there is adjacent 0.483 acre development parcel approved with plans for a 16 unit residential condominium project. With over 30,000 sq ft of concrete and steel constructed buildings built in 2009 the properties have long term rental history with low vacancy. Current monthly rent is over $37,000 per month gross from the commercial triple net leases, plus $3,400 per month from residential rental agreements. Rents are less than market rates and there is additional revenue available from a residential unit the owner keeps vacant for friends and family that could generate additional $1,600 per month. Potential Total Gross Income currently exceeds $500,000 per year. Call listing 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 2021. 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 Durango Mountain Realty contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2021-10-27T21:56:24.657.
www.durangomountainrealty.com/homes/122108654
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1485 Florida Road , 17 Units 4 Buil Durango, CO 81301

  • Price: $13,200,000
  • Status: Active
  • Updated: 18 min ago
  • MLS #: 787543
0
Beds
10
Baths
9
½ Baths
3.35
Acres
26,545
SQFT
$497
$/SQFT
2009
Built
Neighborhood:
East Anims Vill
County:
La Plata
Area:
Durango In Town
Property Description
East Animas & Florida Commercial Center is offering a majority ownership interest in this Class "A" Building. There are 17 individually deeded Condominium Units that total 26,545 sq ft with over 30,000 sq ft of buildings. Currently 13 Commercial Condominiums are leased, plus 4 residential Condominiums located on over 3.35 acres 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, Insurance and Financial Advisors, plus there is adjacent 0.483 acre development parcel approved with plans for a 16 unit residential condominium project. With over 30,000 sq ft of concrete and steel constructed buildings built in 2009 the properties have long term rental history with low vacancy. Current monthly rent is over $37,000 per month gross from the commercial triple net leases, plus $3,400 per month from residential rental agreements. Rents are less than market rates and there is additional revenue available from a residential unit the owner keeps vacant for friends and family that could generate additional $1,600 per month. Potential Total Gross Income currently exceeds $500,000 per year. Call listing 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 26545 Foundation Concrete Heating Fuel Source Natural Gas Heating System1 Gas Loading Dock Yes Main Sq Ft 26545 One Quarter Baths 0

Property Features

Books Available No Cam Yes Cap Rate Percent 3.5 Covenants Yes Current Use General OfficeRestaurant Enterprise Zone No Existing Utilities ElectricNatural Gas Fixtures Included No Gross Annual Expenses 22000 Gross Scheduled Income 480000 Inventory Included No Lease Included Yes Monthly Cam Charges Tbd Monthly Insurance Charges Tbd Net Operating Income 458000 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 2021. 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 Durango Mountain Realty contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2021-10-27T21:56:24.657.
 
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Durango Mountain Realty
PO Box 17000
Durango CO, 81302
Listing courtesy of Keller Williams Realty Southwest Associates, Llc.