407 E Hyman Avenue, Aspen, CO 81611 (MLS# 127875)

407 E Hyman Avenue, Aspen, CO 81611

$3,225,600

Property Type: Commercial Sale Square Footage: 3,569 Lot Size (sq. ft.): 1,980 Status: Closed

Current Price: $3,225,600 List Date: 12/03/2012 Last Modified: 9/05/2024

Overview

Description

VERY PRIME RETAIL BUILDING ON HYMAN AVENUE MALL. The street-level tenant is ''Aspen T-Shirt Co'' leased through Nov 2020. The 2nd floor space is leased to ''Noori's Collection'' through Oct 2021. Both leases have ''kickout clauses'' allowing a new buyer of the Building to terminate the leases early if desired. This is a rare opportunity to acquire a prime downtown CC income property with great long-term tenants (or not!).

Listing Details MLS# 127875

Location Info

Type: Commercial
Major Area: Aspen
Area: 01-Central Core
Asking Price: 3500000
Original List Price: 3500000
Street #: 407
Street Direction Pfx: E
Street Name: Hyman
Street Suffix: Avenue
City/Town: Aspen
State/Province: CO
Postal Code: 81611

Keywords Info

Total Building SqFt: 1.001 - 5,000

Listing Info

Short Sale: No
REO: No
In Foreclosure: No
Member Association: Aspen Association

General Info

Sub/Loc: Townsite of Aspen
County: Pitkin
Legal: Blk 89,Lot B, North 66 ft
Zoning: CC
Lot SqFt: 1980
Nbr of Acres: 0.05
Total SqFt: 3569
Unit SqFt: 3569
Business Name: Aspen T-Shirt
Inventory: No
Parcel #: 273718216002
Year Built: 1973
Year Remodeled: 2002
Directions: Hyman Avenue Mall near Mill Street.

Financing Info

Taxes: 23909.4
Tax Year: 2011
Transfer Tax: Yes
Special Assessments: n/a
HOA Dues: 0

Status Change Info

Under Contract Date: 2012-12-02
Proposed Close Date: 2012-12-27
Sold Date: 2012-12-28
Sold Price Per/SF: 903.78
How Sold: Cash

More Information

Remarks

Public Remarks: VERY PRIME RETAIL BUILDING ON HYMAN AVENUE MALL. The street-level tenant is ''Aspen T-Shirt Co'' leased through Nov 2020. The 2nd floor space is leased to ''Noori's Collection'' through Oct 2021. Both leases have ''kickout clauses'' allowing a new buyer of the Building to terminate the leases early if desired. This is a rare opportunity to acquire a prime downtown CC income property with great long-term tenants (or not!).

Allowable Uses

Business w/RE: Yes
Income: Yes
Mixed Use: Yes
Office: Yes
Retail: Yes

Current Use

Retail Store: Yes

Construction

Block: Yes

Condominiumized

No: Yes

Electric

Yes: Yes

Condition

Excellent: Yes

Basement/Substructure

Crawl Space: Yes

Gas

Natural Gas: Yes

Roof

Membrane: Yes

Water

Public: Yes

Sanitation

Sewer: Yes

Water Rights

No: Yes

Heating/Cooling

Hot Water: Yes

Location Amenities

Gentle Topo: Yes
High Traffic Loc: Yes
High Visibility: Yes

Mineral Rights

No: Yes

Documents on File

Financials: Yes
Leases: Yes
Survey/ILC: Yes
Tax Returns: Yes
Title Insurance: Yes

Parking

None: Yes

Occupant

Tenant Occupied: Yes
5+ Years: Yes
Option to Renew: Yes
Escalations: Yes
Multiple Leases: Yes

Disclosures

1031 Exchange: Yes
Owner Licensed: Yes

Tenant Pays

Annual Escalation: Yes
Building Insurance: Yes
Deposit: Yes
Electricity: Yes
Exterior Maintenance: Yes
Gas: Yes
Interior Maintenance: Yes
Property Taxes: Yes
Sewer: Yes
Trash Collection: Yes
Water: Yes

Owner Pays

Nothing: Yes
Structural Maint: Yes

Terms Offered

Cash: Yes

Possession

DOD: Yes
Subject to Lease: Yes

Property Features

Allowable Uses: Business w/RE; Income; Mixed Use; Office; Retail Current Use: Retail Store Construction: Block Condominiumized: No Roof: Membrane Condition: Excellent Electric: Yes Gas: Natural Gas Water: Public Sanitation: Sewer Tenant Pays: Annual Escalation; Building Insurance; Deposit; Electricity; Exterior Maintenance; Gas; Interior Maintenance; Property Taxes; Sewer; Trash Collection; Water Owner Pays: Nothing; Structural Maint Parking: None Location Amenities: Gentle Topo; High Traffic Loc; High Visibility Occupant: Tenant Occupied; 5+ Years; Option to Renew; Escalations; Multiple Leases Disclosures: 1031 Exchange; Owner Licensed Documents on File: Financials; Leases; Survey/ILC; Tax Returns; Title Insurance Water Rights: No Mineral Rights: No Terms Offered: Cash Possession: DOD; Subject to Lease

Listing Office: Setterfield & Bright

Last Updated: September - 05 - 2024

Broker Attribution: (970) 920-1833

Copyright 2020 by Aspen/Glenwood Springs MLS, Inc. ALL RIGHTS RESERVED WORLDWIDE No part of this publication may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written consent of the Aspen/Glenwood Springs MLS, Inc.