Development Opportunity in the Heart of Downtown! Rare opportunity for an investor to purchase this entitled development parcel with several rentals in place and a total of 75 current parking spaces, which together cash flow approx $10,000/ month. This is the ideal holding place for your 1031 investor or someone who would rather have their funds in real estate rather than stocks. See renderings to illustrate the potential for the future site development as the second phase of the successful Crossroads Durango building. The development package includes the 1/2 acre parcel with existing rentals & 15 parking spaces, in addition to 60 parking spaces along the west side of Narrow Gauge Ave. Also included are the following: Full set of Architectural Design Development drawings previously approved by the City of Durango, Phase 2 equipment/amenities installed in Phase 1: 4 pipe heating/cooling central plant sized for 2nd Phase, in place 2 of 3 designed elevators for P-1 and P-2, in place Fire sprinkler service entry and associated equipment for both phases, in place Security system equipment and infrastructure both phases, in place Water tap for both phases in place Public bathrooms at 1st, 2nd, and 3rd floors, sized for both phases, in place in lieu of parking for 8.38 spaces valued at $13,500 per space.

  • MLS# 688622
  • Sub-Type Resale
  • Status Active
  • Days On Site 805
SQ Feet 20,735
Story(s) 1
Units 5
Zoning Planned Unit Development - CBD
Listing Provided By:
Christina Rinderle  of  Durango Land and Homes
 
 
 
 
 
this listing $2,450,000
563.96%
$369,000 in 81301
this listing 20,735 SqFt
3,801.22%
532 SqFt in 81301
this listing $118 $/SqFt
31.92%
$174 $/SqFt in 81301
this listing 805 on site
229.92%
244 on site in 81301

Location

State CO
City Durango
Zip Code 81301
Area Durango In Town

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