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920 San Juan Street

Pagosa Springs, CO 81147
  • $764,000
  • STATUS: Active
  • ON SITE: 48 Days
  • MLS #: 798868
UPDATED: 31 min ago
$764,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 1
    1/2 BATHS
  • 2,737
    SQFT
  • $279
    $/SQFT
Type:
Commercial
Built:
1973
County:

School Ratings & Info

Listing courtesy of Exp Realty, Llc: .


Description

***Attention Commercial Investors*** Are you looking to passively invest in commercial space in Colorado? Check out this opportunity! This is a commercial building zoned mixed use in downtown Pagosa Springs, located right on HWY 160, great visibility! The current tenant, "Sage," is a local favorite restaurant. They are on a 5 year triple net lease at $3,500/month with the rent being raised every year in accordance with the US inflation Rate. They are well established in the community and a thriving part of the food industry in Pagosa. This is a remodeled building with a commercial kitchen set-up which includes a kitchen, a deli area, wash station, walk-in coolers, walk-in freezers, an office, a remodeled bathroom for staff and customer use, and all trade fixtures needed to run a restaurant. The current lease with Sage is a triple net, $3,500/month. This means that the tenant pays all utilities, property taxes, insurance cost, repairs and maintenance. This is a truly passive investment opportunity as you don't have to deal with broken heaters, repainting, or any day-to-day maintenance. That responsibility all lies with the tenant! A copy of the current lease agreement can be made available to qualified buyers. The lease goes through the end of 2027, and the current tenant is likely going to want to renew.

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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 2022. 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 Western Slope Real Estate contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2022-11-29T20:56:28.813.
www.lovewhereyouliveco.com/homes/133846212
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920 San Juan Street Pagosa Springs, CO 81147

  • Price: $764,000
  • Status: Active
  • On Site: 48 Days
  • Updated: 31 min ago
  • MLS #: 798868
0
Beds
0
Baths
1
½ Baths
0.14
Acres
2,737
SQFT
$279
$/SQFT
1973
Built
Neighborhood:
Ps Town Of Pagosa Springs - 01 Cnty Code 00440
County:
Archuleta
Area:
Ps01 (Old Pagosa Springs)
Property Description
***Attention Commercial Investors*** Are you looking to passively invest in commercial space in Colorado? Check out this opportunity! This is a commercial building zoned mixed use in downtown Pagosa Springs, located right on HWY 160, great visibility! The current tenant, "Sage," is a local favorite restaurant. They are on a 5 year triple net lease at $3,500/month with the rent being raised every year in accordance with the US inflation Rate. They are well established in the community and a thriving part of the food industry in Pagosa. This is a remodeled building with a commercial kitchen set-up which includes a kitchen, a deli area, wash station, walk-in coolers, walk-in freezers, an office, a remodeled bathroom for staff and customer use, and all trade fixtures needed to run a restaurant. The current lease with Sage is a triple net, $3,500/month. This means that the tenant pays all utilities, property taxes, insurance cost, repairs and maintenance. This is a truly passive investment opportunity as you don't have to deal with broken heaters, repainting, or any day-to-day maintenance. That responsibility all lies with the tenant! A copy of the current lease agreement can be made available to qualified buyers. The lease goes through the end of 2027, and the current tenant is likely going to want to renew.
Exterior Features

Acreage Range Less Than 1/2 Carport No Lot Dimension 105' X 100' X 144' Parking Paved10-20 Total Spaces Parking Spaces 10 Property Attached Yes Roof Metal Sewer Public Sewer Installed Stories 1 Street Description State Highway100'-150' Frontage Water Public Water Well No Waterfront YN No

Interior Features

Cooling Swamp Cool Cooling Type Central A/C Finished Sq Ft 2737 Flooring Stained/Stamped ConcreteVinyl Heating Fuel Source Natural Gas Heating System Forced Air Main Sq Ft 2737 Office Sq Ft 120 One Quarter Baths 0 Total Offices 1

Property Features

Available Utilities CableElectricInternetNatural GasSanitary SewerWater Books Available Yes Cam No Cap Rate Percent 5.5 Covenants No Current Business Restaurant Current Use Restaurant Desc Of Business Tripple Net Lease Enterprise Zone No Exchange Trade No Existing Utilities ElectricInternetNatural GasSanitary SewerWater Fixtures Included Yes Gross Annual Expenses 0 Gross Scheduled Income 42000 Inventory Included No Lease Included Yes Net Operating Income 42000 New Construction YN No Owners Association No Possible Property Use Convenience StoreGeneral OfficeMixed-UseOffice WarehouseRestaurantRetail StorefrontRetail WarehouseShowroomSpecial UseWarehouse Railroad Siding Spur No Real Estate For Sale Yes Reo Lender Owned No Tax Year 2020 Total Electric Meters 1 Total Gas Meters 1 Total Taxes 5423.64 Type Multi-Use Variable Rate No Water Rights No Year Started 2022 Zoning Type Mixed Use

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 2022. 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 Western Slope Real Estate contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2022-11-29T20:56:28.813.
 
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Western Slope Real Estate
1338 Grand Ave, Suite 313
Glenwood Springs CO, 81601
Listing courtesy of Exp Realty, Llc: .