29423 Hwy 160 Durango, CO 81301-7939
- Commercial land
- 3,323 SF
- 2.25 lot acres
May 17, 2021
Current Use by Public Records
- Commercial land
Property Details for 29423 Hwy 160
- Year built
- 2009
- Lot size
- 2.25 lot acres
- Property size
- 3,323 SF
- Property type
- Commercial land
- APN
- 5669-122-01-016
- APU
- 566912201016
Description
This exceptional 3,300 square foot mixed-use property, situated on a 2.25-acre lot at 29423 E HWY 160 in Durango, CO, presents a compelling investment opportunity. Currently leased to medical professionals under a five-year triple-net lease, this property boasts a strong 6.5% cap rate, providing immediate and consistent cash flow. The property's prime location offers excellent visibility and accessibility, complemented by ample parking. Durango's thriving economy, fueled by both year-round tourism and a robust local business sector, ensures a stable and potentially appreciating asset. The property's existing tenant base minimizes vacancy risk and provides a secure foundation for future growth. This is an ideal investment for those seeking a blend of immediate return and long-term appreciation potential in a desirable Colorado location. The property's size and location make it suitable for a variety of uses, offering flexibility for future development or expansion. The substantial lot size provides ample space for potential future expansion or additional development. This turnkey investment requires minimal immediate management, making it an attractive option for both seasoned investors and those new to commercial real estate. The asking price is $1,500,000.
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
- -107.814
- Latitude
- 37.2278
- CBSA code
- 20420
- CBSA name
- DURANGO, CO MICROPOLITAN STATISTICAL AREA
