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    2477 Main Ave Durango, CO 81301

    For Sale
    $600,000

    High-yield retail property in Durango, CO

    Property size:
    1,310 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional retail investment opportunity presents a 1,310 square foot building situated on a 7,623 square foot lot at 2477 Main Avenue in Durango, Colorado. Currently operating at 100% occupancy with a single tenant, Chang Thai Durango, under a triple net (NNN) lease expiring July 30, 2025, this property offers a strong, stable income stream with approximately 0.7 years remaining on the lease. The asking price is $600,000, translating to $458 per square foot, and boasts a 5.00% cap rate (as of August 2023). Built in 1975, this single-story building benefits from a prime location on Main Avenue, providing excellent visibility and accessibility. The property's strategic position is further enhanced by its proximity to established businesses such as Cole's Chop Shop, O'Reilly Auto Parts, and Firestone, ensuring high foot traffic and strong daytime population. The lease includes annual rent escalations of 3%, promising consistent income growth. This value-add investment presents a compelling opportunity for investors seeking a stable, high-yield return with potential for increased rental income upon lease renewal. The property offers convenient Main Avenue right-in/right-out access.

    Property Features for 2477 Main Ave

    General Information

    Property type
    Retail properties
    Square Feet
    1,310 SF

    Building Details

    Year Built
    1975
    Buildings
    1
    Stories
    1

    HighLights

    • Main Avenue provides convenient ingress and egress.
    • High‑quality national tenants including Cole's Chop Shop, O'Reilly Auto Parts, and Firestone.
    • Investment opportunity with projected rent increases in 2025.
    • Current tenant: Chang Thai Durango.
    • Triple Net (NNN) lease.
    • High‑visibility Main Avenue location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Chang Thai Durango Thai Restaurant Taco Boy North Mexican Restaurant Taco's La Carranza Fast Food Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Durango
    County
    La Plata
    State
    Colorado
    Longitude
    -107.87494045
    Latitude
    37.29074059

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    FAQs

    What type of property is this?
    Retail property - High-yield retail property in Durango, CO
    Where is this retail property located?
    The property is located at 2477 Main Ave Durango, CO.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Main Avenue provides convenient ingress and egress.; High-quality national tenants including Cole's Chop Shop, O'Reilly Auto Parts, and Firestone.; Investment opportunity with projected rent increases in 2025.
    (303) 398-2111
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    2477 Main Ave Durango, CO 81301
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    Durango, CO 81301
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2477 Main Ave Durango, CO 81301
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