$2,100,000

1600 Pine Grove

Steamboat Springs CO, 80487

Description

High quality building with strong leases. Located near Central Park Plaza, UC Health and Barn Village, 1600 Pine Grove presents a compelling opportunity for the investor looking to secure a high quality asset with strong tenants. Anchored by the Yampa Valley Women's Clinic, which occupies the second floor, and Edward Jones on the first floor, the building has strong income and reliable tenants. An additional half of the first floor is currently rented as individual offices/suites, but may be consolidated for a single user or to provide space for a buyer seeking to own their own offices and the income from the other tenants. Designed by Joe Patrick Robbins, the building features large exterior porches and attractive finishes.The downstairs interior was recently remodeled, and the office/suite area features a kitchenette, restroom and several suites with sinks installed.The building is ADA compliant with an elevator servicing the second floor, and has a basement for storage and easy access to the mechanical systems.The spacious lot has views of the historic barn and Steamboat Ski Area, as well as having room for a potential building expansion. There is ample parking as well.All lease information included in the listing is believed to be correct but should be verified by the buyer. Leases available to qualified buyers on execution of a confidentiality agreement. CAP rate calculation is based on current rents and there is upside potential based on lease renewals and bringing the office/suites to full market rent.

Details

MLS#6544853
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1998
Days On Site11

Features

SQ Feet4,224
Story(s)2
Units3
ZoningCommunity Commercial
Acreage0.57

Market Activity 80487

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Area Information
StateCO
CountyRoutt
CitySteamboat Springs
Zip Code80487
Listing VS Median (in 80487)
Price:
$2,100,000
low | high
Med:
$875,000
100% of Average
SqFt:
4,224
low | high
Med:
1,408
100% of Average
$ / SqFt:
$497
low | high
Med:
$621
25% of Average
On Site:
11
low | high
Med:
143
7.692307692308% of Average
Sourced by Back At You
Listing Updated: May 11, 2021 12:01:48 AM PDT
The Paoli Group LogoMLS Number: 6544853
Listing Provided By:
The Paoli Group  of  COLORADO GROUP REALTY
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