Active
450 Lewis Street
Pagosa Springs CO, 81147
$1,600,000
$164.58 per sqft
Active
4 Baths
9,722 sqft
Commercial
Built in 1983
Courtesy of Pagosa Valley Properties with Listing Contact: 720-431-2400
Pagosa Valley Properties is pleased to present the opportunity to purchase an exclusive investment opportunity, The Lewis Street Building. Improvements consist of a 9,722 Square Foot, multi-tenant office building located in a rapidly developing yet historic part of Pagosa Springs, CO. Originally built in 1983 but remodeled in 2004, The Lewis Street Building offers a significant value add via adaptive re-use with the ability to convert to office, retail, restaurant, or even residential condominiums. This asset is a great owner opportunity that also gives investors the opportunity to purchase at a significant discount with a huge value add opportunity through soft repositioning and long-term leasing strategies. This is a highly attractive opportunity to acquire an established office building that is almost 100% leased. Archuleta County is one of the most dynamic hotspots for entrepreneurs and small business owners. The Lewis Street Building is ideally located adjacent to the World's Deepest Hot Springs, a locally owned ski resort with the best snow in Colorado, the finest white water rafting the San Juans have to offer, and boutique restaurants with mentions in national publications amongst other local gems. Cap rate of 5.22% points to a low risk investment, please reach out to agent for OM.
814777
MLSⓇ ID
June 14, 2024
Listed
November 8, 2024
Updated
Map
450 Lewis Street
Pagosa Springs CO, 81147
Interior Features
Total Stories
2
Total Bathrooms
4
Full Bathrooms
2
Half Bathrooms
2
Floor Description
Carpet, Concrete, Tile, Vinyl, Wood
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Natural Gas, Forced Air
Exterior/Building Features
Lot Size
0.17 Acres
Roof
Metal
Sewer
Connected, Public Sewer
Other Property Details
Area Name
PS02 (Central - Township 5699)
Taxes
$1,694
Tax Frequency
Annually
Days on Market
110
Association Fee
Not Listed
Association Fee Frequency
Yearly
Garage
No
Parking
Off Street, Paved, Rear Side Off Street, On Street, Unpaved
View
No
County
Archuleta
Water Source
Connected, Water Tap Paid
Pool
No
Courtesy of Pagosa Valley Properties with
Listing Contact: 720-431-2400
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Data last updated on: 11/8/2024