78336 Us-40 Winter Park, CO 80482

Property Details for 78336 Us-40

Year built

1975

Lot size

2.77 lot acres

Property size

29,709 SF

Property type

Retail properties

Property subtype

Office Properties & Spaces

Description

This exceptional mixed-use property in Winter Park, Colorado, presents a compelling redevelopment opportunity. The 29,896 square foot, three-story building, constructed in 1975 and renovated in 1995, sits on a 2.77-acre lot (APN R305976) and boasts 12 units, currently 80% occupied. The property features a mix of commercial and residential spaces, including 10 office/retail/commercial/restaurant spaces and two residential units. The building is of concrete construction and includes an indoor storage area with 10-foot ceilings. The property is zoned DC and offers significant potential for expansion. Additional residential or commercial buildings can be constructed, leveraging the existing development rights. The current building could be repurposed for workforce housing, further enhancing the property's value. The remaining acreage allows for the development of additional commercial and residential units for sale or lease. Leases begin renewal in 2025, presenting an opportunity to increase the current 3.00% cap rate through adjusted rents. The asking price is $7,000,000, with a price per square foot of $235.62 and a land value of $1,263,537.91 per acre. Parking is provided at a ratio of 70 spaces per 1,000 square feet. A development across the street successfully constructed 38 units on 1.1 acres, demonstrating the area's potential. Unit #2, encompassing 86.4% of the property, holds all development rights. An HOA Offering Memorandum is available upon request. This is a unique opportunity to acquire a well-located, mixed-use property with substantial upside potential.

Location Insight

City

Winter Park

County

Grand

State

Colorado

Longitude

-105.788

Latitude

39.9258