123 St. Highway 172 Bldg , Unit

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Active Durango, CO 81303 MLS# 792867 Listed by Lauren Ammerman on 04/29/2022
$3,490,000
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Commercial Property Type
3.00 Acres
4966 Sq Ft
0 Year Built
Commercial Zoning

Overview

Fantastic commercial storage and retail opportunity for the investor or owner occupant, minimal expenses, zero vacancy, long term leases, room for income growth, and easily managed with little time commitment by owner or property manager. 3 acres located at the corner of one of the highest traffic counts in La Plata County, this commercial property offers two retail business spaces, 85+ storage spaces both covered and open, two full hookup RV spots, a single-family home, commercial well, sewer taps, and gated entry to all storage facilities. Building 1 offers 3,750 square feet, split into two retail spaces, one being a very busy convenience store and market, the second a successful fireplace sales and repair business, both with long term leases in place with automatic yearly increases. Fireplace business has two overhead doors for easy access for equipment. Plenty of customer parking with direct access from Highway 172. Behind the secured gate is building #2, metal storage building - 121 feet by 60 feet, offering back-to-back for a total of 24 covered spaces. Each 30 ft x 10 ft covered parking is perfect for boats, conversion vans, travel trailers, or class C RVs. Third metal building is 132 ft by 45 ft, also covered, currently offers 12 spaces for larger motorhomes, fifth wheels, and large equipment. The remaining storage spaces are a mix of cars, trucks, campers, RVs, all open-air spaces behind the secured gate. There is never a vacancy for storage, the owner gets multiple calls per week looking for storage, some tenants have been there over 15 years. A single wide mobile home sits at the back of the property, has some private parking spaces, and offers an option for onsite manager or simply more income for owner, easily rented 3-bedroom home. Two full hook-up RV spots, both occupied all year long, with sewer, water, and electric. Each RV spot has space for camper, parking spot, and small outdoor area. Commercial well onsite that provides for water for commercial businesses up front, singlewide, and RV spots. Commercial spaces have their own Loma Linda sewer taps, two more taps for the residential. This is a great opportunity for a hands-off manager, current owner spends less than a few hours a week in management duties. Rents on many of the spaces are well under market value, owner has not changed pricing on some spots for years. Approximate 5% cap rate, very low expenses, easily self-managed, and huge upside for increasing rents over time as tenants vacate. The property offers an investor the opportunity to capitalize on tremendous upside by adding 3rd party professional management and increasing rents to current market levels.

New Home Sales Hours

Courtesy Of The Wells Group of Durango, Inc.
Source: CREN MLS

View On CREN MLS

Upcoming Open Houses

    Features

    Leasing Information

    Leasing Details
    • Application Fee $
    • Availability Date
    • Corporate Rental?
    • Deposits Potentially Refundable
    • Existing Lease Type
    • Lease Amount $
    • Lease Description
    • Lease Duration
    • Liability Insurance Required
    • Owner Pays
    • Rent Deposit
    • Rental Application
    • Security Deposit $
    Pet Details
    • Pet Deposit
    • Pet Rent
    • Pets Allowed

    Interior Features

    Summary

    • Year Built Effective
    Basement Details
    • Basement?
    • Basement
    • Basement Ceiling Height
    Fireplace Detail
    • Fireplace Features
    • No. of Fireplaces
    Square Foot Details
    • SqFt 4,966
    • Living Area, Finished
    • Above grade, Finished
    • Basement, Finished
    • Basement, Unfinished
    • PSF Total $
    • PSF Finished $
    • PSF Above Grade $
    Use details
    • Leaseable Area
    • Office Area
    • Retail Area
    • Warehouse Area
    Other
    • Accessibility Features
    • Appliances
    • Building Class
    • Building Features
    • Ceiling Height
    • Common Walls
    • Exclusions
    • Flooring
    • Furnished Unfurnished
    • Interior Features
    • Laundry Availability
    • Security Features
    • Spa Features
    • Window Features

    Room Details

    Bathroom Details Total Bathrooms: 3
    Bathroom Location Details
    Bedroom Location Details Total Bedrooms:
    More Room Details

    Unit Information

    Summary

    • Number of Units 7
    • Number of Units Furnished
    • Number of Units Vacant
    • Unit Features
    Single Unit Details

    Exterior/Lot Features

    Summary

    • Available Elevations
    • Entry Location
    • Faces
    • Horse Amenities
    • Horse Property N
    • Levels
    • Stories
    • Structure Type
    • Unit Floor #
    • View
    Builder Details
    • Builder
    •  
    • Completion Time From Groundbreaking
    • Model Type
    Construction details
    • Architecture
    • Construction Materials
    • Foundation Details
    • Roof
    Exterior Details
    • Dock Features
    • Door Features
    • Exterior Features
    • Fencing Fenced
    • Number of Docks
    • Number of Doors 2
    • Number of Storage Units
    • Other Equipment
    • Other Structures
    • Patio And Porch Features
    • Pool Features
    • Ski Features
    Livable Structure Details
    Lot Details​​​​​​​
    • Acres Leased
    • Crop Acres
    • Cultivated Acres
    • Features
    • Irrigated Acres 0.25
    • Lot Number
    • Lot Size Acres 3
    • Lot Size Dimensions
    • Lot Size SqFt
    • Sq Ft
    • Pasture Acres
    • Price Per Acre $
    • Vegetation
    • Waterfront Features
    Mobile Details
    • Make
    • Model
    • Body Type
    • Exterior Dimensions x
    • Skirt
    Outbuilding details
    Road details
    • Access
    • Road Responsibility
    • Road Surface

    Parking/Garage

    Parking Space Summary

    • Parking Features
    • Total Parking Spaces
    • Garage Spaces
    • Total Carport Spaces
    • Total Offstreet Spaces
    • Total Reserved Spaces
    • Total RV Spaces
    Parking Space Details

    Utilities & Green Home Features

    Summary

    • Cooling
    • Green Energy Efficient
    • Heating
    • HVAC Description
    Green Ratings
    Power Production Details
    Sewer
    • Sewer
    • Sewer Fee
    • Sewer Tap Paid YN
    Utilities details
    • Electric Service
    • Gas Tap Fee
    • Gas Tap Paid YN
    • Utilities Internet Access (Wired)
    Water / Well
    • Irrigation Source
    • Issued Well Permit Numbers 053653
    • Water Available N
    • Water Source Well
    • Well Type
    • Well Usage
    • Water Fees
    • Water Tap Paid?
    • Water/Mineral Rights Water Rights

    Association Information

    HOA Summary

    • Amenities Completed
    • Amenities Opening
    • Association Amenities
    • Association(s) No
    • HOA Fee Includes
    • Total Annual HOA Fees $
    1st HOA
    • HOA
    • Type
    • Fee $0.00
    • Phone
    • Total Annual Fee $
    • Website
    2nd HOA
    • HOA
    • Type
    • Fee $
    • Phone
    • Total Annual Fee $
    • Website
    3rd HOA
    • HOA
    • Type
    • Fee $
    • Phone
    • Total Annual Fee $
    • Website
    Restrictions & Covenants
    • Pets Allowed
    • Rentals Allowed
    • Restrictions
    • Restrictions Other
    • Restrictions/Covenants?

    Financial Considerations

    Summary

    • Cap Rate
    • Cap Rate Calculation
    Actual expense details
    • Operating Expense $20000
    Commission Information
    • Buyer Agency Compensation
    • Transaction Broker Compensation
    • Compensation Offered
    • Dual Variable Compensation
    • Commission Modified
    • Closing Comments
    Income details
    • Actual Annual Net Income $
    • Gross Income $
    • Income Includes
    • Income Includes Description
    Landleasing details
    • Land Lease Amount
    • Land Lease Amount Frequency
    • Land Lease?
    Projected
    • Other Annual Income $
    • Potential Rental Income Annual $
    • Projected Annual Expense $
    • Projected Annual Net Income $
    • Projected Gross Income $
    • Projected Gross Operating Income $
    • Projected Gross Scheduled Income $204000
    • Vacancy Credit Losses
    Tax details
    • Annual Tax $14,849
    • Legal Description
    • Tax Exemptions
    • Tax ID 566912107003
    • Tax Year 2021
    Other
    • Tenant Pays
    • Utilities Metering
    • Utilities Paid By Tenant

    Neighborhood

    Summary

    • Building Name
    • Development Name
    • Park Name
    • Senior Community
    • Subdivision
    New Home Community
    • Community Description
    • Community MLS #
    • Community Name
    • Community Opening
    • Community Website
    • Current Promotions
    • Development Status
    • Directions from Agent Hwy 160 east, right onto Hwy 172 to address on the right
    • Move In Date
    • New Home Available Options
    • New Home Land MLS #
    • New Home Plan MLS #
    Zoning Details
    • Current Use Retail,Warehouse
    • Incorporated?
    • Zoning Commercial
    • Zoning Jurisdiction

    Other

    Business Details
    • Business Amenities
    • BusinessDescription
    • BusinessType
    • Year Established
    History
    • Original List Price $
    Partial Ownership Details
    • Partial Ownership Amount
    • Week Remarks
    • Weeks Available
    Other
    • Home Warranty
    • Ownership
    • Possession
    • Special Listing Conditions
    • Year Built

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    School Zone

    District:
    Schools: Elementary School, High School, Middle School

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