720 Grand Avenue

Glenwood Springs, CO 81601
Active MLS ID #163479

$1,495,000

Description

Your chance to own a piece of history in downtown Glenwood Springs. 2019 showed a nice solid 5.4 CAP and now with FULL OCCUPANCY, 2020 is on track to have just under an 8 CAP. The King Mall offers the ideal commercial location for pedestrian and drive-by traffic with some of the best visibility and access in downtown Glenwood Springs. Current leases in place include a restaurant, jewelry store, glass shop & spa. Incredible opportunity for a long term investment hold in the heart of one of the Western Slope's fastest growing communities.

Location Info

  • Type

    Commercial
  • Major Area

    Glenwood
  • Area

    09-Glenwood Proper
  • Orig List Price Per/SF

    224.54
  • Street #

    720
  • Street Name

    Grand
  • Street Suffix

    Avenue
  • City/Town

    Glenwood Springs
  • State/Province

    CO
  • Postal Code

    81601

Keywords Info

  • Total Building SqFt

    5,001 - 10,001
  • Unit SqFt Range

    Multiple Units
  • HOA Dues Y/N

    No
  • HOA Dues

    0

Listing Info

  • Listing Date

    2020-03-09
  • Short Sale

    No
  • REO

    No
  • Auction

    No
  • Member Association

    Glenwood Association

General Info

  • Sub/Loc

    None
  • County

    Garfield
  • Legal

    Section: 9 Township: 6 Range: 89 Subdivision: ORIGINAL TWNSTE. GLENWOOD Block: 44 Lot: 22, Subdivision: ORIGINAL TWNSTE.
  • Zoning

    M2
  • Lot SqFt

    4500
  • Nbr of Acres

    0.1
  • Total SqFt

    6658
  • Parcel #

    218509405016
  • Year Built

    1903
  • Directions

    Located on Grand Avenue in Glenwood between 7th Street and 8th Street

Financing Info

  • Metro Tax District

    No
  • Taxes

    21231
  • Tax Year

    2019
  • Transfer Tax

    No
  • N.O.I.

    75124
  • Total Expense P/Year

    36876

Details

  • Allowable Uses

    Income , Mixed Use , Office , Restaurant/Bar , Retail
  • Construction

    Brick , Frame , Poured Concrete , Stone
  • Condominiumized

    No
  • Substructure

    Unfinished Basement
  • Roof

    Membrane
  • Condition

    Good
  • Heating/Cooling

    Gas , Hot Water
  • Electric

    Yes
  • Water

    City
  • Sanitation

    Sewer
  • Access

    Paved
  • Location Amenities

    High Visibility
  • Current Use

    Restaurant , Retail Store
  • Occupant

    Tenant Occupied
  • Water Rights

    No
  • Mineral Rights

    No
  • Sign

    Yes

Location

Local Information