1230 Big Thompson Ave Estes Park, CO 80517-8929

This exceptional Estes Park commercial property presents a lucrative investment or owner-user opportunity. The 14,776 square foot building, situated on a 1.4-acre lot, boasts a prime location on Highway 34, one of the main arteries into town, ensuring high visibility and accessibility for the 4 million annual visitors. Completely renovated in 2021, the two-story building features a new roof (2017) and new paving (2021). Currently 100% occupied by five tenants under a gross lease with a remaining term of 2.5 years (leases expire May 30, 2027, with a commencement date of May 31, 2024), the property generates a strong pro-forma NOI of $125,832 and a pro-forma cap rate of 5.24%. Rent increases are tied to the CPI. The building offers high ceilings, abundant natural light, and 48 parking spaces. The flexible "Commercial Outlying" zoning allows for diverse commercial uses, including retail, restaurant, event center, or even a unique residential conversion. The property enjoys stunning views of the Estes Valley and Continental Divide, is two blocks from Lake Estes, and features a pedestrian/bike path on the property. The expansive lot includes a treed yard and a large back field suitable for events or expansion. The current tenants include a coworking facility, outdoor guide companies (one with an on-site bouldering gym), a chiropractic office, and massage therapists. The sellers are open to negotiating the sale of the coworking facility along with the property. This is a rare opportunity to acquire a high-performing commercial property in a desirable mountain resort town. The asking price is $2,400,000, with a price per square foot of $162.43.