450 Lewis Street , Pagosa Springs, CO 81147
Pagosa Springs, CO 81147
Description
Pagosa Valley Properties is pleased to present the opportunity to purchase an exclusive investment opportunity, The Lewis Street Building. Improvements consist of a 9,722 Square Foot, multi-tenant office building located in a rapidly developing yet historic part of Pagosa Springs, CO. Originally built in 1983 but remodeled in 2004, The Lewis Street Building offers a significant value add via adaptive re-use with the ability to convert to office, retail, restaurant, or even residential condominiums. This asset is a great owner opportunity that also gives investors the opportunity to purchase at a significant discount with a huge value add opportunity through soft repositioning and long-term leasing strategies. This is a highly attractive opportunity to acquire an established office building that is almost 100% leased. Archuleta County is one of the most dynamic hotspots for entrepreneurs and small business owners. The Lewis Street Building is ideally located adjacent to the World’s Deepest Hot Springs, a locally owned ski resort with the best snow in Colorado, the finest white water rafting the San Juans have to offer, and boutique restaurants with mentions in national publications amongst other local gems. Cap rate of 5.22% points to a low risk investment, please reach out to agent for OM.
Details
| MLS# | 814777 |
|---|---|
| Listing Type | For Sale |
| Style | Mixed Use |
| Building Name | The Lewis Building |
| Sub-Type | Resale |
| Status | Active |
| Year | 1983 |
| Days On Site | 93 |
| Listing Provided By | Pagosa Valley Properties | Irene Diaz |
Features
| Bath(s) | 4 Total |
|---|---|
| SQ Feet | 9,722 |
| Story(s) | 2 |
| Units | 19 |
| Zoning | Mixed Use |
| Acreage | 0.17 |
Market Activity 81147
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2024. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
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Real Estate listings held by companies other than CREN contain that company’s name.
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Learn More About This Property
| State | CO |
|---|---|
| County | Archuleta |
| City | Pagosa Springs |
| Zip Code | 81147 |
| Area | PS02 (Central Township 5699) |
| Listing VS Median (in 81147) | |
Price: $1,600,000 low | high Med: $695,000 SqFt: 9,722 low | high Med: 2,355 $ / SqFt: $165 low | high Med: $301 On Site: 93 low | high Med: 131.000000 | |
Equal housing opportunity. An equal opportunity company.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2024. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer
Real Estate listings held by companies other than CREN contain that company’s name.
Fair Housing Disclaimer
