23
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$2,995,000
Est. payment /mo
3 Baths
5,591 SqFt
Price Dropped by $255K
2180 Main Avenue Durango, CO 81301
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Key Details
Property Type Commercial
Sub Type Multi-Use
Listing Status Active
Purchase Type For Sale
Square Footage 5,591 sqft
Price per Sqft $535
MLS Listing ID 829559
Half Baths 2
Three Quarter Bath 1
Year Built 1982
Tax Year 2025
Lot Size 0.500 Acres
Acres 0.5
Property Sub-Type Multi-Use
Property Description
The 2180 Main Ave building presents a rare and compelling opportunity to acquire a meticulously renovated, premier commercial building located in the heart of Durango, Colorado. Boasting a long-term NNN lease with a well-established, successful tenant, this property offers a stable income stream and an attractive return on investment with a cap rate of 5.6%. The property's prime location, coupled with a beautiful building and robust lease structure, makes it an ideal addition for investors seeking to diversify their portfolio with a high-performing asset in a desirable market. Acquired by the current owner in 2006, this commercial building underwent a comprehensive, top-to-bottom renovation that transformed it into a modern, highly functional facility. The property features a substantial 5,591 square feet of heated, finished commercial space, perfectly suited for a variety of business operations. In addition to the primary commercial area, the building also includes an impressive 2,688 square feet of dedicated warehouse space, providing ample storage, logistics, or operational support capabilities. These extensive renovations ensure the building meets contemporary standards and minimizes future capital expenditures for the discerning investor. A key highlight of this investment is the exceptionally strong tenancy. The current tenant, a highly reputable business with a proven track record of over 20 years in the community, is not for sale; rather, this offering focuses solely on the real estate. The tenant currently operates under a robust 5-year NNN (Triple Net) lease agreement. This favorable lease structure places the responsibility for property taxes, insurance, utilities and maintenance squarely on the tenant, thereby minimizing landlord responsibilities and maximizing net operating income for the investor. Furthermore, the lease includes an attractive option for the tenant to extend for an additional 5 years, providing potential for even longer-term income stability and predictability. This established and reliable tenant base significantly de-risks the investment and ensures a consistent cash flow.
Location
State CO
County La Plata
Interior
Heating Forced Air
Cooling Forced Air
Flooring Tile, Wood
Furnishings Unfurnished
Exterior
Parking Features Paved, 10-20 Total Spaces
Garage Spaces 21.0
Utilities Available Electric, Internet, Natural Gas, Phone, Sanitary Sewer, Water
Roof Type Metal
Building
Story 2
Foundation Basement-Below Grade
Sewer Public Sewer Installed
Water Water Installed
New Construction No
Others
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Listed by Legacy Properties West Sotheby's Int. Realty
NEARBY SCHOOL & BUSINESS
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