$1,205,550
Aspen, CO 81611
MLS# 175032
Status: Closed
893 sqft
1 / 7
Property Description
WELL LOCATED OFFICE OR SERVICE COMMERCIAL SPACE on 2nd floor with elevator access with views of views of Red Mtn. and Smuggler Mtn. just one block east of the Aspen Gondola. Income producing with four (4) years remaining on a 10-year lease. Lease currently at below market rent but with a 3% annual increase. EXCELLENT OPTION FOR INVESTOR LOOKING FOR A 1031 EXCHANGE. This space has an open space plan currently being used as a spa. Newly renovated common area and restrooms completed in 2017. The net annual rental income is $38,696 ($38.54/RSF). Garage parking spaces also available to buy or lease.
Details
Maps
Documents
Location Info
Current Price: $1,205,000
Type: Commercial
Major Area: Aspen
Area: 01-Central Core
Asking Price: 1205550
Original List Price: 1205550
Street #: 710
Street Direction Pfx: E
Street Name: Durant
Street Suffix: Avenue
Address 2/Unit #: W-4
City/Town: Aspen
State/Province: CO
Postal Code: 81611
Keywords Info
Total Building SqFt: 10,001 - 20,000
Association Dues: Yes
Association Fee: 895.77
Association Fee Frequency: Monthly
Payment Per: Year
Listing Info
Listing Date: 2022-05-05
Short Sale: No
REO: No
Auction: No
Foreclosure: No
Member Association: Aspen Association
General Info
Sub/Loc: Durant Mall Condo
County: Pitkin
Legal: Subdivision: DURANT MALL - AMENDED Unit: W-8
Zoning: Mixed Use
Levels: 1
Total SqFt: 893
Unit SqFt: 893
Inventory: No
Parcel #: 273718242010
Year Built: 1987
Year Remodeled: 2017
Directions: This commercial space is located on the 2nd floor of the West Building at 710 Durant Avenue next to City Market between Spring and Original Streets.
Financing Info
Metro Tax District: No
Taxes: 7370.88
Tax Year: 2022
Transfer Tax: Yes
N.O.I.: 38696
Total Expense P/Year: 18120
Status Change Info
Status: Closed
Under Contract Date: 2022-08-31
Proposed Close Date: 2022-10-31
Sold Date: 2022-11-07
Sold Price: $1,205,000
Sold Price Per/SF: 1349.38
How Sold: Conventional Fixed
Remarks
Public Remarks: WELL LOCATED OFFICE OR SERVICE COMMERCIAL SPACE on 2nd floor with elevator access with views of views of Red Mtn. and Smuggler Mtn. just one block east of the Aspen Gondola. Income producing with four (4) years remaining on a 10-year lease. Lease currently at below market rent but with a 3% annual increase. EXCELLENT OPTION FOR INVESTOR LOOKING FOR A 1031 EXCHANGE. This space has an open space plan currently being used as a spa. Newly renovated common area and restrooms completed in 2017. The net annual rental income is $38,696 ($38.54/RSF). Garage parking spaces also available to buy or lease.
Property Features
Allowable Uses: Business w/o RE; Business w/RE; Income; Mixed Use; Office; Retail; Other
Current Use: Medical; Office Building; Professional Service; Retail Store
Construction: Frame; Poured Concrete; Steel/Metal
Condominiumized: Yes
Substructure: Other
Roof: Membrane
Condition: Good
Heating/Cooling: Baseboard; Central AC; Central Heating; Evaporative Cooling; Gas
Electric: Yes
Gas: Natural Gas
Sanitation: Sewer
Tenant Pays: Annual Escalation; Association Fees; Building Insurance; Electric; Gas; Interior Maintenance; Parking; Property Taxes; Sewer
Owner Pays: Association Fees; Building Insurance; Electric; Gas; Interior Maintenance; Parking; Property Taxes; Sewer
Parking: 6 - 10 Spaces; Assigned; Parking Garage
Access: Paved
Extras: ADA Compliant; Elevator; Fire Alarm; Fire Sprinkler Sys; High Speed Available; Management; Restrooms; Security System; Smoke Detectors
Expenses Include: Grounds Maintenance; Insurance; Management; Sewer; Snow Removal; Trash; Unit Electric; Unit Heat; Water
Amenities: Bus/Shuttle Service; On-Site Management; Pets Allowed/Owner; Pets Allowed/Renter
Location Amenities: Corner Lot; High Traffic Loc; High Visibility; Intersection; View
Occupant: Tenant Occupied; 3 - 5 Years
Documents on File: CC & R's; Financials; High Speed Available; Leases; Survey/ILC; Title Insurance
Water Rights: No
Mineral Rights: No
Terms Offered: Cash
Sign: No
Possession: Subject to Lease
Floor Plan of Space 
Listing Office: Coldwell Banker Mason Morse-Aspen
Last Updated: January - 03 - 2024
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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Broker Attribution:
(970) 925-7000