520 E Cooper Avenue Rb-1, Aspen, CO 81611 (MLS# 140077)

520 E Cooper Avenue Rb-1, Aspen, CO 81611

$3,400,000

Property Type: Commercial Sale Square Footage: 3,716 Status: Closed

Current Price: $3,400,000 List Date: 5/28/2016 Last Modified: 9/05/2024

Overview

Description

Steady cash flow with long term tenants. Completely renovated with total rewire, plumbing and all mechanicals. This is a long term hold with 3% escalators annually. Cap Rate 5.7 and NOI $226.297.

Listing Details MLS# 140077

Location Info

Type: Commercial
Major Area: Aspen
Area: 01-Central Core
Asking Price: 3950000
Original List Price: 4400000
Street #: 520
Street Direction Pfx: E
Street Name: Cooper
Street Suffix: Avenue
Address 2/Unit #: Rb-1
City/Town: Aspen
State/Province: CO
Postal Code: 81611

Keywords Info

Total Building SqFt: Not Applicable
Association Dues: Yes

Listing Info

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

General Info

Sub/Loc: Aspen Hof
County: Pitkin
Legal: Aspenhof Unit RB-1
Zoning: CC
Total SqFt: 3716
Unit SqFt: 3726
Inventory: No
Parcel #: 273718224016
Year Built: 1970
Year Remodeled: 1985
Directions: Lower level at 520 East Cooper next to Boogies

Financing Info

Taxes: 21407.5
Tax Year: 2014
Transfer Tax: Yes
N.O.I.: 226297
HOA Dues: 24000
Total Expense P/Year: 48500

Status Change Info

Under Contract Date: 2016-12-28
Proposed Close Date: 2017-02-17
Sold Date: 2017-02-17
Sold Price Per/SF: 914.96
How Sold: Cash

More Information

Remarks

Public Remarks: Steady cash flow with long term tenants. Completely renovated with total rewire, plumbing and all mechanicals. This is a long term hold with 3% escalators annually. Cap Rate 5.7 and NOI $226.297.

Allowable Uses

Income: Yes
Retail: Yes

Current Use

Retail Store: Yes

Condominiumized

Yes: Yes

Electric

Yes: Yes

Condition

Excellent: Yes
New: Yes

Water

Community: Yes

Sanitation

Community: Yes

Extras

Elevator: Yes
Fire Alarm: Yes
ADA Compliant: Yes

Heating/Cooling

Hot Water: Yes

Parking

None: Yes

Occupant

Tenant Occupied: Yes

Disclosures

Excluded Buyer: Yes
Owner Licensed: Yes

Tenant Pays

Annual Escalation: Yes
Electricity: Yes

Owner Pays

Association Fees: Yes
Building Insurance: Yes
Property Taxes: Yes

Possession

Subject to Lease: Yes

Sign

No: Yes

Property Features

Allowable Uses: Income; Retail Current Use: Retail Store Condominiumized: Yes Condition: New; Excellent Electric: Yes Water: Community Sanitation: Community Tenant Pays: Annual Escalation; Electricity Owner Pays: Association Fees; Building Insurance; Property Taxes Parking: None Extras: ADA Compliant; Elevator; Fire Alarm Occupant: Tenant Occupied Disclosures: Excluded Buyer; Owner Licensed Sign: No Possession: Subject to Lease

Listing Office: Kruger and Company

Last Updated: September - 05 - 2024

Broker Attribution: (970) 920-4001

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