New Listing
2929 Main Avenue,Durango, CO 81301
Durango, CO 81301
Description
Eighteen units. One building. Right in the middle of town. Durango Suites & Salons is 5,749 sq ft of commercial space on an in-town 1/4 acre lot, and it's pretty much built for steady, low-stress income. Most of the 18 suites are leased to professionals in the cosmetic and personal care world, the kind of tenants whose clients book every few weeks, year-round, rain or snow. And speaking of snow, the parking lot faces south, so winter sun does a lot of the work for you, and there's plenty of room for both tenants and their customers. The location helps, too. You're a few minutes from the Durango Rec Center, the La Plata County Fairgrounds, north City Market, and a handful of local restaurants such as Zia's, Starbucks, Sage, Union social house, and coffee; which means clients can grab groceries or lunch on the same trip as their appointment. The current cap rate is 6%, with clear room to raise rents if wanted to be more competitive for the market. Annual taxes are only $13,394 and annual insurance runs $5,700, both paid by the owner. The building is on a single meter for electric (LPEA), water and sewer (City of Durango), and natural gas (Atmos), all paid by the owner. It's a solid in-town income property with upside built in. Historical use previously was a motel set up, but showers have been removed during conversion to the suites. Seller financing might be an option with cash down and credit checks, or this is a good candidate for lending as it has a pretty good cap rate.
Details
| MLS # | 840278 |
|---|---|
| Listing Type | For Sale |
| Style | Mixeduse |
| Building Name | Durango Suites & Salons |
| Sub-Type | Resale |
| Status | Coming Soon |
| Year | 1955 |
| Listing Provided By | Blackmore Group | Ashley Blackmore |
Features
| Bath(s) | 10 Total |
|---|---|
| SQ Feet | 5,749 |
| Story(s) | 2 |
| Units | 18 |
| Zoning | Commercial |
| Acreage | 0.26 |
Interior
| Furnished | Unfurnished |
|---|
Parking
| Parking Features | Parking Spaces |
|---|
Utilities
| Utilities | Electricity Connected, Natural Gas Available, High Speed Internet Available, Sewer Available, Water Available |
|---|
Other
| List Aor | Durango Area Association Of Realtors |
|---|
Area Information
| State | CO |
|---|---|
| County | La Plata |
| City | Durango |
| Zip Code | 81301 |
| Area | Durango In Town |
| Listing VS Median (in 81301) | |
Price: $1,700,000 low | high Med: $715,000 sqft: 5,749 low | high Med: 1,627 $ / sqft: $296 low | high Med: $453 On site: -7 low | high Med: 198.5 | |
Market Activity 81301
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Learn More About This Property
| State | CO |
|---|---|
| County | La Plata |
| City | Durango |
| Zip Code | 81301 |
| Area | Durango In Town |
| Listing VS Median (in 81301) | |
Price: $1,700,000 low | high Med: $715,000 sqft: 5,749 low | high Med: 1,627 $ / sqft: $296 low | high Med: $453 On site: -7 low | high Med: 198.5 | |