Demetrius Poulis - Coldwell Banker Distinctive Properties
Tbd Main Avenue Crossroads Phase Ii Development Site + Parking
Durango, CO 81301

$2,450,000

Description

Development Opportunity in the Heart of Downtown! Rare opportunity for an investor to purchase this entitled development parcel with several rentals in place and a total of 75 current parking spaces, which together cash flow approx $10,000/ month. This is the ideal holding place for your 1031 investor or someone who would rather have their funds in real estate rather than stocks. See renderings to illustrate the potential for the future site development as the second phase of the successful Crossroads Durango building. The development package includes the 1/2 acre parcel with existing rentals & 15 parking spaces, in addition to 60 parking spaces along the west side of Narrow Gauge Ave. Also included are the following: Full set of Architectural Design Development drawings previously approved by the City of Durango, Phase 2 equipment/amenities installed in Phase 1: 4 pipe heating/cooling central plant sized for 2nd Phase, in place 2 of 3 designed elevators for P-1 and P-2, in place Fire sprinkler service entry and associated equipment for both phases, in place Security system equipment and infrastructure both phases, in place Water tap for both phases in place Public bathrooms at 1st, 2nd, and 3rd floors, sized for both phases, in place in lieu of parking for 8.38 spaces valued at $13,500 per space.

Details

MLS#688622
Sub-TypeResale
StatusActive
Days On Site809

Features

SQ Feet20,735
Story(s)1
Units5
ZoningPlanned Unit Development - CBD

Market Activity 81301

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Area Information

StateCO
CityDurango
Zip Code81301
AreaDurango In Town
Listing VS Median (in 81301)
Price:
$2,450,000
low | high
Med:
$365,000
100% of Average
SqFt:
20,735
low | high
Med:
1,310
100% of Average
$ / SqFt:
$118
low | high
Med:
$279
85.80853715532% of Average
On Site:
809
low | high
Med:
74
100% of Average
Listing Updated: 12/14/2018
MLS Number: 688622
Listing Provided By:
Christina Rinderle  of  Durango Land and Homes



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