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    Renovated Durango Business Condominium Title is generated by Realmo AI

    E-2323 W 2nd Ave, Durango, CO 81301

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    For Sale
    $299,000

    Renovated business condo in central Durango location with ample parking.

    Property size:
    1,064 SF
    Price / SF:
    $281/SF
    Added:
    Jan 20, 2025
    Days on Market:
    498
    Last Refresh:
    May 25 at 7:32 pm

    Property Features for E-2323 W 2nd Ave

    General Information

    Standard status
    Active
    Size
    1,064 SF

    We can help!

    Listing Contact
    Matthew Arias

    Listing agent Matthew Arias License #FA100087897

    Listing office Keller Williams Realty Southwest Associates, LLC

    Listing date Jan 20, 2025

    Source Exprealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Southwest Associates, LLC

    HighLights

    • Prime central location near Main Ave in Durango, CO, offering high visibility and accessibility.
    • Completely renovated in 2021, featuring new carpet, vinyl flooring, remodeled offices, and a functional reception area.
    • Versatile space suitable for various businesses with 3 exam rooms and potential for a 4th.
    • Extensive parking available in the well‑recognized 'Durango Dental Clinic' complex.
    • Opportunity to acquire an affordable unit ideal for startups, specialty practices, or relocations.
    • Potential for expansion by combining with an adjoining unit, adding 2,442 sqft of space.

    Overview

    This completely renovated business condominium is situated in a prime central location off Main Ave in Durango, CO, within the well-recognized "Durango Dental Clinic" complex. The West 2nd complex benefits from extensive parking. Currently used as a dental office, the suite is suitable for various businesses, including chiropractic, accounting, massage, therapy, and cosmetology. The layout features 3 exam rooms with space for a fourth, a reception area with customer seating and front office, a customer restroom, a private office with bathroom, a work area, a break room, and a storage room. Renovated in 2021, the suite includes new carpet and vinyl flooring, remodeled doctor's offices, and a redesigned front desk area. The 1,064 square foot space is designed for efficient patient care. This unit presents an opportunity to gain patient/client population in a convenient part of town. It is ideal for a start-up, specialty practice, or relocation. An adjoining unit is available, which would provide an additional 2,442 square feet of office, bathroom, work, and finished basement storage space.
    Location Intelligence

    Current Use by Public Records

    Brothers Dental Lab Dental Office Crime Stoppers Charitable Organization Durango Dental Ceramics Dental Office Scooter's Place Recording Studio SoundSmith Audio Recording Studio

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

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

    Similar Places Nearby

    • Home Sweet Home Vet Clinic — 124 W 21st St, Durango, CO 81301
    • Durango Animal Hospital — 2461 Main Ave, Durango, CO 81301
    • Dr. Douglas Eckert — 2461 Main Ave, Durango, CO 81301
    • Dr. Catherine Rottinghaus — 2461 Main Ave, Durango, CO 81301
    • Riverview Animal Hospital North — 102 1/2 W 18th St, Durango, CO 81301

    Location Insight

    • Map
    • Local Demand
    City
    Durango
    County
    La Plata
    State
    Colorado
    Longitude
    -107.8809332
    Latitude
    37.2674477

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    FAQs

    What type of property is this?
    Medical Office Space - Renovated business condo in central Durango location with ample parking.
    Where is this medical office space located?
    The property is located at E-2323 W 2nd Ave Durango, CO.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: Prime central location near Main Ave in Durango, CO, offering high visibility and accessibility.; Completely renovated in 2021, featuring new carpet, vinyl flooring, remodeled offices, and a functional reception area.; Versatile space suitable for various businesses with 3 exam rooms and potential for a 4th.
    (970) 749-3977
    We can help!
    Listing Contact
    Matthew Arias
    Real Estate License ID: FA100087897
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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