117 Navajo Trl Dr Ste A Pagosa Springs, CO 81147-9033
- Retail space
- 13,024 SF
- 2.88 lot acres
Current Use by Public Records
- A Time For You Hair & Nail Sln / Beauty Salon / Hair Salon
- Pagosa Springs Vacation Rentals by Vacasa / Vacation Home Rental Agency / Cabin Rental Agency
- Tabitha Zappone / General Practitioner
- Aesthetic Arts by Rose / Permanent Make-Up Clinic / Beauty Products Wholesaler
- Dr. Jeffrey Williams / Plastic Surgeon
Property Details for 117 Navajo Trl Dr Ste A
- Year built
- 1997
- Lot size
- 2.88 lot acres
- Property size
- 13,024 SF
- Zone code
- COMMERCIAL
- Property type
- Retail space
- APN
- 569920405012
- APU
- 569920405012
Description
This 30,000 square foot shopping center in Pagosa Springs, Colorado, presents a unique value-add opportunity. Located at 117 Navajo Trail Dr, 81147, on a 2.88-acre lot, the property boasts ample parking. Currently offering a 7.89% cap rate and $220,932 NOI, the significant upside potential stems from 70% of tenants paying below-market rent and 10 of 13 leases expiring this year. This allows for substantial rent increases and repositioning of the tenant mix. The non-anchored structure, with no tenant exceeding 17% occupancy, minimizes risk. Projected year three stabilized cap rate is 9.36%, a 500 basis point increase. The asking price is $2,800,000, with a land value of $93 per square foot. This presents a compelling investment with significant short-term and long-term growth potential. The property's size and location in Archuleta County offer excellent visibility and accessibility. The blank slate opportunity allows for a complete reimagining of the property's tenant mix and lease structures, maximizing income potential and creating a thriving retail destination.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pagosa Springs
- County
- Archuleta
- State
- Colorado
- Longitude
- -107.081
- Latitude
- 37.2538
