Current Use by Public Records
- Retail properties & Spaces
Property Details for 331 Us-24
- Year built
- 1980
- Lot size
- 0.59 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional net-leased retail property in Leadville, Colorado, presents a compelling investment opportunity. Located on US-24, this two-story, 5,600 square foot building boasts 100% occupancy with two tenants: Cloud City Medical and Leadville Rental Center. Each tenant occupies 2,600 square feet under a net lease, minimizing landlord responsibilities. The property features regular rent bumps ranging from 2.44% to 3%, ensuring consistent income growth. Recent improvements include repaving the parking lot (2024) and installing a new boiler and heating system (2022). The property sits on a 0.594-acre lot and benefits from high visibility and ample parking. The asking price is $1,150,000, representing a 7.93% cap rate and a pro-forma cap rate of 8.16%. The current NOI is $91,200, with a pro-forma NOI of $93,804. Built in 1980, this fee-simple property is zoned commercial and offers flexible leasing options. This is a stabilized, low-maintenance investment with strong potential for future returns. The property's location in Leadville, Lake County, Colorado, provides access to a thriving community with limited retail competition. This turnkey investment is ideal for passive income seekers.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Leadville
- County
- Lake
- State
- Colorado
- Longitude
- -106.295
- Latitude
- 39.2417
