117 Navajo Trl Dr Ste A Pagosa Springs, CO 81147-9033

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.