710 E Durant Avenue W-4, Aspen, CO 81611 (MLS# 175032)

710 E Durant Avenue W-4, Aspen, CO 81611

$1,205,000

Property Type: Commercial Sale Square Footage: 893 Status: Closed

Current Price: $1,205,000 List Date: 5/17/2022 Last Modified: 9/05/2024

Overview

Description

WELL LOCATED OFFICE OR SERVICE COMMERCIAL SPACE on 2nd floor with elevator access with views of views of Red Mtn. and Smuggler Mtn. just one block east of the Aspen Gondola. Income producing with four (4) years remaining on a 10-year lease. Lease currently at below market rent but with a 3% annual increase. EXCELLENT OPTION FOR INVESTOR LOOKING FOR A 1031 EXCHANGE. This space has an open space plan currently being used as a spa. Newly renovated common area and restrooms completed in 2017. The net annual rental income is $38,696 ($38.54/RSF). Garage parking spaces also available to buy or lease.

Listing Details MLS# 175032

Location Info

Type: Commercial
Major Area: Aspen
Area: 01-Central Core
Asking Price: 1205550
Original List Price: 1205550
Street #: 710
Street Direction Pfx: E
Street Name: Durant
Street Suffix: Avenue
Address 2/Unit #: W-4
City/Town: Aspen
State/Province: CO
Postal Code: 81611

Keywords Info

Total Building SqFt: 10,001 - 20,000
Association Dues: Yes
Association Fee: 895.77
Association Fee Frequency: Monthly

Listing Info

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

General Info

Sub/Loc: Durant Mall Condo
County: Pitkin
Legal: Subdivision: DURANT MALL - AMENDED Unit: W-8
Zoning: Mixed Use
Stories: Yes
Total SqFt: 893
Unit SqFt: 893
Inventory: No
Parcel #: 273718242010
Year Built: 1987
Year Remodeled: 2017
Directions: This commercial space is located on the 2nd floor of the West Building at 710 Durant Avenue next to City Market between Spring and Original Streets.

Financing Info

Metro Tax District: No
Taxes: 7370.88
Tax Year: 2022
Transfer Tax: Yes
N.O.I.: 38696
HOA Dues: 10752
Total Expense P/Year: 18120
Total HOA Fee Per Year: 10749.24

Status Change Info

Under Contract Date: 2022-08-31
Proposed Close Date: 2022-10-31
Sold Date: 2022-11-07
Sold Price Per/SF: 1349.38
How Sold: Conventional

More Information

Remarks

Public Remarks: WELL LOCATED OFFICE OR SERVICE COMMERCIAL SPACE on 2nd floor with elevator access with views of views of Red Mtn. and Smuggler Mtn. just one block east of the Aspen Gondola. Income producing with four (4) years remaining on a 10-year lease. Lease currently at below market rent but with a 3% annual increase. EXCELLENT OPTION FOR INVESTOR LOOKING FOR A 1031 EXCHANGE. This space has an open space plan currently being used as a spa. Newly renovated common area and restrooms completed in 2017. The net annual rental income is $38,696 ($38.54/RSF). Garage parking spaces also available to buy or lease.

Allowable Uses

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

Current Use

Medical: Yes
Office Building: Yes
Professional Service: Yes
Retail Store: Yes

Construction

Concrete: Yes
Frame: Yes
Steel Frame: Yes

Access

Paved: Yes

Condominiumized

Yes: Yes

Electric

Yes: Yes

Condition

Good: Yes

Basement/Substructure

Other: Yes

Gas

Natural Gas: Yes

Roof

Membrane: Yes

Water

Public: Yes

Sanitation

Sewer: Yes

Water Rights

No: Yes

Extras

Elevator: Yes
Fire Alarm: Yes
Fire Sprinkler Sys: Yes
High Speed Available: Yes
Management: Yes
Restrooms: Yes
Security System: Yes
Smoke Detectors: Yes
ADA Compliant: Yes

Heating/Cooling

Baseboard: Yes
Central AC: Yes
Central Heating: Yes
Evaporative Cooling: Yes
Gas: Yes

Location Amenities

Corner Lot: Yes
High Traffic Loc: Yes
High Visibility: Yes
Intersection: Yes
View: Yes

Mineral Rights

No: Yes

Documents on File

CC & R's: Yes
Financials: Yes
High Speed Available: Yes
Leases: Yes
Survey/ILC: Yes
Title Insurance: Yes

Parking

6 - 10 Spaces: Yes
Assigned: Yes
Parking Garage: Yes

Occupant

Tenant Occupied: Yes
3 - 5 Years: Yes

Tenant Pays

Annual Escalation: Yes
Association Fees: Yes
Building Insurance: Yes
Electricity: Yes
Gas: Yes
Interior Maintenance: Yes
Parking Fee: Yes
Property Taxes: Yes
Sewer: Yes

Owner Pays

Association Fees: Yes
Building Insurance: Yes
Electricity: Yes
Gas: Yes
Interior Maintenance: Yes
Parking Fee: Yes
Property Taxes: Yes
Sewer: Yes

Terms Offered

Cash: Yes

Possession

Subject to Lease: Yes

Expenses Include

Grounds Maintenance: Yes
Insurance: Yes
Management: Yes
Sewer: Yes
Snow Removal: Yes
Trash: Yes
Unit Electric: Yes
Unit Heat: Yes
Water: Yes

Sign

No: Yes

Amenities

Bus/Shuttle Service: Yes
On-Site Management: Yes
Pets Allowed/Owner: Yes
Pets Allowed/Renter: Yes

Property Features

Allowable Uses: Business w/o RE; Business w/RE; Income; Mixed Use; Office; Retail; Other Current Use: Medical; Office Building; Professional Service; Retail Store Construction: Concrete; Frame; Steel Frame Condominiumized: Yes Roof: Membrane Condition: Good Electric: Yes Gas: Natural Gas Water: Public Sanitation: Sewer Tenant Pays: Annual Escalation; Association Fees; Building Insurance; Electricity; Gas; Interior Maintenance; Parking Fee; Property Taxes; Sewer Owner Pays: Association Fees; Building Insurance; Electricity; Gas; Interior Maintenance; Parking Fee; Property Taxes; Sewer Parking: 6 - 10 Spaces; Assigned; Parking Garage Access: Paved Extras: ADA Compliant; Elevator; Fire Alarm; Fire Sprinkler Sys; High Speed Available; Management; Restrooms; Security System; Smoke Detectors Expenses Include: Grounds Maintenance; Insurance; Management; Sewer; Snow Removal; Trash; Unit Electric; Unit Heat; Water Amenities: Bus/Shuttle Service; On-Site Management; Pets Allowed/Owner; Pets Allowed/Renter Location Amenities: Corner Lot; High Traffic Loc; High Visibility; Intersection; View Occupant: Tenant Occupied; 3 - 5 Years Documents on File: CC & R's; Financials; High Speed Available; Leases; Survey/ILC; Title Insurance Water Rights: No Mineral Rights: No Terms Offered: Cash Sign: No Possession: Subject to Lease

Documents

Floor Plan of Space ›

Floor Plan of Entire 2nd Floor ›

Listing Office: Coldwell Banker Mason Morse-Aspen

Last Updated: September - 05 - 2024

Broker Attribution: (970) 925-7000

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