$2,175,000
Basalt, CO 81621
MLS# 165738
Status: Closed
6248 sqft
1 / 27
Property Description
Prime Basalt Downtown Location with high pedestrian traffic & easy parking. The Midland Avenue Mall represents a unique opportunity to purchase a large, one of a kind, mixed use property in the heart of historic downtown Basalt. This award winning, architecturally designed property consists of two buildings of approx 6248 sq.ft. on an almost 17,500 sq.ft. lot, boasting 25 on-site parking spaces with an eclectic mix of long-term tenants. The Midland Avenue Mall has been condominiumized and zoning allows the potential addition of up to 3 more residential/commercial spaces under special review. The basement has separate storage lockers for additional rental income. No other property is ready to go for the creative, savvy investor wanting mid valley convenience.The original building which now houses Mod Thai's Restaurant, was built in 1965 out of cinder block and iron and was completely refurbished in 1994 with new exterior, new wiring, new plumbing, new interior finishes. Past restaurants included Johnny McGuire's, the Noodle Bowl and several retail stores most notably Hot Mama's. The main building which houses the retail and office spaces, was built in 1994 and includes the long time women's closing store, Faboo, Coven, a brand new bike and coffee shop and several office spaces.
Details
Maps
Documents
Location Info
Current Price: $2,000,000
Type: Commercial
Major Area: Basalt
Area: 05-Basalt Proper
Asking Price: 2175000
Original List Price: 2000000
Street #: 132
Street Name: Midland
Street Suffix: Avenue
City/Town: Basalt
State/Province: CO
Postal Code: 81621
Keywords Info
Total Building SqFt: 5,001 - 10,001
Association Dues: No
Payment Per: Year
Listing Info
Listing Date: 2020-07-31
Short Sale: No
REO: No
Auction: No
Foreclosure: No
Member Association: Aspen Association
General Info
Sub/Loc: None
County: Eagle
Legal: Subdivision: MIDLAND MALL COMMERCIAL CONDOMINIUMS Unit: Z
Zoning: C-2
Lot SqFt: 17475
Nbr of Acres: 0.4
Total SqFt: 6248
Parcel #: 246707470005
Year Built: 1965
Year Remodeled: 1994
Directions: Hwy 82 to main Basalt turn. Roundabout to Midland Avenue. Cross over Two Rivers Road. On Left side of Midland Avenue, across from Alpine Bank.
Financing Info
Metro Tax District: No
Taxes: 39240
Tax Year: 2019
Transfer Tax: No
Status Change Info
Status: Closed
Under Contract Date: 2021-07-07
Proposed Close Date: 2021-08-11
Sold Date: 2021-09-13
Sold Price: $2,000,000
Sold Price Per/SF: 320.1
How Sold: Exchange
Remarks
Public Remarks: Prime Basalt Downtown Location with high pedestrian traffic & easy parking. The Midland Avenue Mall represents a unique opportunity to purchase a large, one of a kind, mixed use property in the heart of historic downtown Basalt. This award winning, architecturally designed property consists of two buildings of approx 6248 sq.ft. on an almost 17,500 sq.ft. lot, boasting 25 on-site parking spaces with an eclectic mix of long-term tenants. The Midland Avenue Mall has been condominiumized and zoning allows the potential addition of up to 3 more residential/commercial spaces under special review. The basement has separate storage lockers for additional rental income. No other property is ready to go for the creative, savvy investor wanting mid valley convenience.The original building which now houses Mod Thai's Restaurant, was built in 1965 out of cinder block and iron and was completely refurbished in 1994 with new exterior, new wiring, new plumbing, new interior finishes. Past restaurants included Johnny McGuire's, the Noodle Bowl and several retail stores most notably Hot Mama's. The main building which houses the retail and office spaces, was built in 1994 and includes the long time women's closing store, Faboo, Coven, a brand new bike and coffee shop and several office spaces.
Property Features
Allowable Uses: Income; Mixed Use; Office; Restaurant/Bar; Retail
Current Use: Office Building; Professional Service; Restaurant; Retail Store
Construction: Brick; Concrete Block; Frame
Condominiumized: Yes
Substructure: Unfinished Basement
Roof: Metal; Tar & Gravel
Condition: Good
Heating/Cooling: Central AC; Electric; Forced Air; Gas
Electric: Yes
Gas: Natural Gas
Sanitation: Sewer
Parking: 21 + Spaces; Paved
Access: Paved
Extras: High Speed Available; Restrooms; Smoke Detectors
Amenities: Pets Allowed/Owner; Pets Allowed/Renter
Location Amenities: High Traffic Loc; High Visibility; View
Occupant: Tenant Occupied; 1 - 2 Years; Escalations; Multiple Leases
Disclosures: Lease/Mve Out Clause; Right of 1st Refusal
Documents on File: Leases; Survey/ILC
Water Rights: No
Mineral Rights: No
Terms Offered: Cash
Sign: No
Possession: Subject to Lease
Supplements
The original building which now houses Mod Thai's Restaurant, was built in 1965 out of cinder block and iron and was completely refurbished in 1994 with new exterior, new wiring, new plumbing, new interior finishes. Past restaurants included Johnny McGuire's, the Noodle Bowl and several retail stores most notably Hot Mama's. The main building which houses the retail and office spaces, was built in 1994 and includes the long time women's closing store, Faboo, Coven, a brand new bike and coffee shop and several office spaces.
132 Midland Mall Expansion Opportunity 
Listing Office: Aspen Snowmass Sotheby's International Realty - Hyman Mall
Last Updated: September - 14 - 2021
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
Copyright 2020 by Aspen/Glenwood Springs MLS, Inc. ALL RIGHTS RESERVED WORLDWIDE No part of this publication may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written consent of the Aspen/Glenwood Springs MLS, Inc.
Broker Attribution:
(970) 925-6060