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818 Grand Avenue Glenwood Springs, CO 81601-0000
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Key Details
Sold Price $1,362,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 20205344
Sold Date 03/11/21
Annual Tax Amount $10,456
Lot Dimensions 25 x 100
Property Description
Great Investment Opportunity!! located in the Historical District of Glenwood Springs. Owner is currently remodeling building into a high-end Class A Medical office. The owner will lease back the building for 10 years with a personal guarantee at a 7% caprate. Base rent starts at $32/sf with built in escalators. The owner will start paying rent as soon as the building has been finished and ready for occupancy but no later than summer 2021. The owner is an established dental/oral surgeon with 20 + years in practice. He is expanding to GW because of the unfulfilled demand for his services. Currently, there are no other investments like this one Note: The interior photos are examples of what the finished product will look like when completed.
Location
State CO
Area Other Area
Direction Exit 1-70 to downtown Glenwood Springs. Property is located on the north side of Grand Avenue.
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Bought with COLDWELL BANKER COMMERCIAL PRIME PROPERTIES
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