411 S Monarch Street Unit C-1, Aspen, CO 81611 (MLS# 166427)

411 S Monarch Street Unit C-1, Aspen, CO 81611

$2,925,000

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Property Type: Commercial Sale Square Footage: 2,952 Lot Size (sq. ft.): 2,952 Status: Closed

Current Price: $2,925,000 List Date: 9/04/2020 Last Modified: 9/05/2024

Overview

Description

Located in The Dancing Bear Residences in downtown Aspen, Colorado, this class A restaurant space is just three blocks from the Aspen Mountain Gondola. The Investment offers an excellent opportunity to own a stabilized, income-driven, commercial space with a seasoned operator with over 10 years of historical tenancy. The current tenant is The Monarch Steak House, a fine dining restaurant operated by CP Restaurant Group. The current lease expires in September 2025, but may be extended by two, five-year extension options -the second at market terms. Offering Memorandum is available after execution of an NDA.

Listing Details MLS# 166427

Location Info

Type: Commercial
Major Area: Aspen
Area: 01-Central Core
Asking Price: 3200000
Original List Price: 3200000
Street #: 411
Street Direction Pfx: S
Street Name: Monarch
Street Suffix: Street
Address 2/Unit #: Unit C-1
City/Town: Aspen
State/Province: CO
Postal Code: 81611

Keywords Info

Total Building SqFt: 1.001 - 5,000
Association Dues: Yes
Association Fee: Yes
Association Fee Frequency: Annually

Listing Info

REO: No
Member Association: Aspen Association

General Info

Sub/Loc: Dancing Bear Residences
County: Pitkin
Legal: Subdivision: DANCING BEAR RESIDENCES ASPEN Unit: C-1
Zoning: Commercial
Lot SqFt: 2952
Nbr of Acres: 0.07
Total SqFt: 2952
Unit SqFt: 2952
Parcel #: 273718219020
Year Built: 2009
Year Remodeled: 2015
Directions: 411 South Monarch Street Aspen, Colorado

Financing Info

Metro Tax District: No
Taxes: Yes
Tax Year: 2019
Transfer Tax: Yes
N.O.I.: 139693
HOA Dues: Yes
Total HOA Fee Per Year: Yes

Status Change Info

Under Contract Date: 2020-09-28
Proposed Close Date: 2020-11-27
Sold Date: 2020-12-01
Sold Price Per/SF: 990.85
How Sold: Conventional

More Information

Remarks

Public Remarks: Located in The Dancing Bear Residences in downtown Aspen, Colorado, this class A restaurant space is just three blocks from the Aspen Mountain Gondola. The Investment offers an excellent opportunity to own a stabilized, income-driven, commercial space with a seasoned operator with over 10 years of historical tenancy. The current tenant is The Monarch Steak House, a fine dining restaurant operated by CP Restaurant Group. The current lease expires in September 2025, but may be extended by two, five-year extension options -the second at market terms. Offering Memorandum is available after execution of an NDA.

Documents

Floor Plan ›

Listing Office: Aspen Snowmass Sotheby's International Realty - Hyman Mall

Last Updated: September - 05 - 2024

Broker Attribution: (970) 925-6060

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