$2,400,000
Glenwood Springs, CO 81601
MLS# 177449
2120 sqft
1 / 3
Property Description
Income, Lease, Develop. Great investment opportunity in West Glenwood with high visibility and remodel complete in spring of 2021. Lease in place with tenant occupying approximately fifty percent of the building with a 10 year lease. Ability to lease the remaining portion or owner occupy. In addition, included in the purchase price is the adjacent lot with the ability to develop additional income. Projected NOI ~$150k**
Details
Maps
Documents
Location Info
Current Price: $2,400,000
Inside City Limits: Yes
Condominiumized: No
Zoning City: Glenwood Springs
Zoning County: Garfield County
Type: Commercial
Major Area: Glenwood Springs
Area: 09-West of Glenwood
Asking Price: 2400000
Original List Price: 2500000
Street #: 23
Street Name: Mel Rey
Street Suffix: Road
City/Town: Glenwood Springs
State/Province: CO
Postal Code: 81601
Keywords Info
Total Building SqFt: 1.001 - 5,000
Association Dues: No
Payment Per: Unknown
Listing Info
Occupant: Tennant
Listing Date: 2021-10-13
Seller is licensed Realtor: No
Short Sale: No
REO: No
Auction: No
Foreclosure: No
Member Association: Glenwood Association
General Info
Sub/Loc: None
County: Garfield
Legal: Section: 6 Township: 6 Range: 89 Subdivision: MEL-RAY SUB. Block: 4 Lot: 6, Subdivision: MEL-RAY SUB. Lot: 7 S 50' OF E
Zoning: M1- Mixed Use
Lot SqFt: 20256
Nbr of Acres: 0.47
Total SqFt: 2120
Unit SqFt: 2120
Parcel #: 218506104005
Year Built: 1965
Directions: Off of I-70 West, go to the roundabout and take the second right. Property will be on the left.
Financing Info
Metro Tax District: No
Taxes: 9707.48
Tax Year: 2020
Transfer Tax: No
Status Change Info
Status: Active
Remarks
Public Remarks: Income, Lease, Develop. Great investment opportunity in West Glenwood with high visibility and remodel complete in spring of 2021. Lease in place with tenant occupying approximately fifty percent of the building with a 10 year lease. Ability to lease the remaining portion or owner occupy. In addition, included in the purchase price is the adjacent lot with the ability to develop additional income.
Projected NOI ~$150k**
Property Features
Allowable Uses: Hospitality; Hotel/Lodge; Income; Industrial - Heavy; Industrial - Light; Mixed Use; Multi-Family Res; Office; Restaurant/Bar; Retail; Single Family Res; Warehouse; Other
Current Use: Gas/Automotive; Retail Store
Construction: Brick; Concrete Block; Poured Concrete; Steel/Metal
Condominiumized: No
Substructure: Slab
Roof: Membrane
Condition: Good
Heating/Cooling: Central AC; Gas
Electric: Yes
Gas: Natural Gas
Sanitation: Sewer
Tenant Pays: Annual Escalation; Building Insurance; Electric; Gas; Interior Maintenance; Property Taxes; Sewer; Trash; Water
Owner Pays: Building Insurance; Exterior Maintenance
Parking: 11 - 20 Spaces
Access: Paved
Location Amenities: Corner Lot; High Traffic Loc; High Visibility; Highway Access; Intersection
Occupant: Tenant Occupied; 5+ Years; Option to Renew
Disclosures: 1031 Exchange
Documents on File: Survey/ILC
Water Rights: No
Mineral Rights: No
Terms Offered: Cash
Sign: Yes
Possession: DOD; Subject to Lease
Survey 
Listing Office: The Agency Aspen
Last Updated: April - 12 - 2024
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) 429-4255