701 E 2nd Avenue

    Durango, CO 81301
    • $375,000
    • STATUS: Active
    • ON SITE: 7 days
    • MLS #: 751361
    UPDATED: 56 min ago
    $375,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 1
      BATHS
    • 2
      1/2 BATHS
    • 4,930
      SQFT
    • $76
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1955
    County:

    School Ratings & Info

    Listing courtesy of The Wells Group Of Durango, Inc..


    Description

    Mutu's Italian Kitchen has successfully operated a restaurant in this location for 13 years. The offering is for the business only - the real estate is not for sale. The sale of the business is subject to the remaining lease with the Landlord set to terminate 1/1/2021 with the potential option to renew "1" five year option. Tenant pays all property taxes, utilities, provides insurance, and is responsible for the day to day maintenance of the building. The landlord/owner is responsible for the HVAC, roof, and parking lot. Tenant has invested over $25,000 in capital improvements to the building/property in the last few years and the restaurant is in turn-key condition and ready for a new owner to operate. Located on the corner of 2nd Avenue and 7th Street, Mutu's is truly located in the heart of Downtown - blocks from the Durango and Silverton Narrow Gauge Railroad, the Durango Arts Center, and more. The restaurant area has main level as well as balcony seating. The lounge features a granite topped bar and several pub tables with a wall of windows. The restaurant and lounge can hold 263 patrons at maximum capacity. Expanded seating during the warmer months is available on the patio. In addition to the restaurant space, the building also contains a 384 SF, 1 bedroom apartment with a balcony overlooking 2nd avenue that is currently rented month-to-month for $1,275, supplementing the tenants rent expenses. The property has six parking spaces on site. Don't miss this rare opportunity to become part of Durangos culinary scene.

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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 2018. 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: 2018-10-17T15:56:43.873.
    www.durangomountainrealty.com/homes/88340438

    701 E 2nd Avenue Durango, CO 81301

    • Price: $375,000
    • Status: Active
    • Updated: 56 min ago
    • MLS #: 751361
    0
    Beds
    1
    Baths
    2
    ½ Baths
    0.17
    Acres
    4,930
    SQFT
    $76
    $/SQFT
    1955
    Built
    Neighborhood:
    Durango In Town
    County:
    La Plata
    Area:
    Durango In Town
    Property Description
    Mutu's Italian Kitchen has successfully operated a restaurant in this location for 13 years. The offering is for the business only - the real estate is not for sale. The sale of the business is subject to the remaining lease with the Landlord set to terminate 1/1/2021 with the potential option to renew "1" five year option. Tenant pays all property taxes, utilities, provides insurance, and is responsible for the day to day maintenance of the building. The landlord/owner is responsible for the HVAC, roof, and parking lot. Tenant has invested over $25,000 in capital improvements to the building/property in the last few years and the restaurant is in turn-key condition and ready for a new owner to operate. Located on the corner of 2nd Avenue and 7th Street, Mutu's is truly located in the heart of Downtown - blocks from the Durango and Silverton Narrow Gauge Railroad, the Durango Arts Center, and more. The restaurant area has main level as well as balcony seating. The lounge features a granite topped bar and several pub tables with a wall of windows. The restaurant and lounge can hold 263 patrons at maximum capacity. Expanded seating during the warmer months is available on the patio. In addition to the restaurant space, the building also contains a 384 SF, 1 bedroom apartment with a balcony overlooking 2nd avenue that is currently rented month-to-month for $1,275, supplementing the tenants rent expenses. The property has six parking spaces on site. Don't miss this rare opportunity to become part of Durangos culinary scene.
    Exterior Features

    Acreage Range Less Than 1/2 Carport No Lot Dimension 75X100 Stories 2 Water Well No Waterfront YN No

    Interior Features

    Cooling Yes Finished Sq Ft 4930 Furn Fixt Equip Yes Main Sq Ft 4546 One Quarter Baths 0 Total Offices 0 Upper Sq Ft 384

    Property Features

    Approx Inv $20000 Books Available Yes Cam No Current Use RestaurantOtherMixed Use Desc Of Business Restaurant Exchange Trade No Fixtures Included Yes Inventory Included No Lease Included Yes Net Operating Income 120000 New Construction YN No Owners Association No Possible Property Use Bar/LoungeRestaurant Railroad Siding Spur No Real Estate For Sale No Reo Lender Owned No Tax Year 2018 Total Taxes $11623.52 Type Business Opp Available Variable Rate No Water Rights No Zoning Type Commercial

    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 2018. 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: 2018-10-17T15:56:43.873.
     
    Durango Mountain Realty
    PO Box 17000
    Durango CO, 81302
    Listing courtesy of The Wells Group Of Durango, Inc..