2477 Main Ave Durango, CO 81301
- Commercial land
- 1,718 SF
- 0.18 lot acres
Current Use by Public Records
- Chang Thai Durango / Thai Restaurant
- Taco Boy North / Mexican Restaurant
- Taco's La Carranza / Mexican Restaurant / Fast Food Restaurant
Property Details for 2477 Main Ave
- Year built
- 1975
- Lot size
- 0.18 lot acres
- Property size
- 1,718 SF
- Property type
- Commercial land
- APN
- 5665-201-14-003
- APU
- 566520114003
Description
This exceptional retail investment opportunity presents a 1,310 square foot building situated on a 7,623 square foot lot at 2477 Main Avenue in Durango, Colorado. Currently operating at 100% occupancy with a single tenant, Chang Thai Durango, under a triple net (NNN) lease expiring July 30, 2025, this property offers a strong, stable income stream with approximately 0.7 years remaining on the lease. The asking price is $600,000, translating to $458 per square foot, and boasts a 5.00% cap rate (as of August 2023). Built in 1975, this single-story building benefits from a prime location on Main Avenue, providing excellent visibility and accessibility. The property's strategic position is further enhanced by its proximity to established businesses such as Cole's Chop Shop, O'Reilly Auto Parts, and Firestone, ensuring high foot traffic and strong daytime population. The lease includes annual rent escalations of 3%, promising consistent income growth. This value-add investment presents a compelling opportunity for investors seeking a stable, high-yield return with potential for increased rental income upon lease renewal. The property offers convenient Main Avenue right-in/right-out access.
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
- Durango
- County
- La Plata
- State
- Colorado
- Longitude
- -107.875
- Latitude
- 37.2908
- CBSA code
- 20420
- CBSA name
- DURANGO, CO MICROPOLITAN STATISTICAL AREA
