$253.93 Per Sq Foot $3,731 est/mo Sourced by Back At You

920 San Juan Street,Pagosa Springs, CO 81147

Pagosa Springs CO, 81147

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Description

***Attention Commercial Investors*** Are you looking to passively invest in commercial space in Colorado? Check out this opportunity! 6.8% Cap Rate, Triple Net lease, inflation provisions added in lease. 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 (end of 2027), meaning the tenant takes care of all utilities, property taxes, insurance, and ongoing maintenance. 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. 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. At a 6.8% cap rate, this is a great turnkey investment.

Details

MLS#811899
Listing TypeFor Sale
StyleMixed Use
Building NameSage
Sub-TypeResale
StatusPending
Year1973
Days On Site29
Listing Provided ByeXp Realty, LLC | Riley Searle

Features

Bath(s) 1 Total
SQ Feet2,737
Story(s)1
Units1
ZoningMixed Use
Acreage0.14

Market Activity 81147

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StateCO
CountyArchuleta
CityPagosa Springs
Zip Code81147
AreaPS01 (Old Pagosa Springs)
Community NamePS Town Of Pagosa Springs 01 Cnty Code 00440
Listing VS Median (in PS Town Of Pagosa Springs 01 Cnty Code 00440)
Price:
$695,000
low | high
Med:
$672,500
53.237410071942% of Average
SqFt:
2,737
low | high
Med:
2,125
72.378516624041% of Average
$ / SqFt:
$254
low | high
Med:
$342
15.35105249134% of Average
On Site:
29
low | high
Med:
85.000000
34.117647058824% of Average
Sourced by Back At You
Listing Updated: April 16, 2024 at 2:06:58 PM PDT