***Attention Commercial Investors*** Are you looking to passively invest in commercial space in Colorado? Check out this opportunity! 6.8% Cap Rate, Triple Net lease, inflation provisions added in lease. This is a commercial building zoned mixed use in downtown Pagosa Springs, located right on HWY 160, great visibility! The current tenant, "Sage," is a local favorite restaurant. They are on a 5 year triple net lease (end of 2027), meaning the tenant takes care of all utilities, property taxes, insurance, and ongoing maintenance. They are well established in the community and a thriving part of the food industry in Pagosa. This is a remodeled building with a commercial kitchen set-up which includes a kitchen, a deli area, wash station, walk-in coolers, walk-in freezers, an office, a remodeled bathroom for staff and customer use, and all trade fixtures needed to run a restaurant. This is a truly passive investment opportunity as you don't have to deal with broken heaters, repainting, or any day-to-day maintenance. That responsibility all lies with the tenant! A copy of the current lease agreement can be made available to qualified buyers. At a 6.8% cap rate, this is a great turnkey investment.
| Price | $695,000 |
|---|---|
| Bathrooms | 1 Partial Bath |
| Year Built | 1973 |
| Property Type | Commercial |
| Listing # | 811899 |
| Status | Pending |
| County | Archuleta |
| Listing Type | For Sale |
| Square Feet | 2,737 |
|---|---|
| Floors | Stained/Stamped Concrete, Vinyl |
| Heating and Cooling | Forced Air, Central A/C |
| Roof | Metal |
|---|---|
| Lot Size | 0.14 acres |
| MLS Area | PS01 (Old Pagosa Springs) |
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| Virtual Tour URL | https://youtu.be/Howki80jLPQ |
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Courtesy of Riley Searle, eXp Realty, LLC
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