Glenwood Springs Real Estate
818 Grand , Glenwood Springs
Location: Glenwood
Type: Commercial
MLS: 165950
Sq Ft: 3405
Acres: 0.06
Built in 1925
SOLD at $1,362,000.00
THIS LISTING HAS BEEN UPDATED - Investment Opportunity! Property is located in the Historical District of Glenwood Springs. Owner is currently remodeling building into a high-end Class A Medical office. The owner will lease back the building for 10 years with a personal guarantee at a 7% cap rate. Base rent starts at $32/sf with built in escalators. The owner will start paying rent as soon as the building has been finished and ready for occupancy but no later than summer 2021. The owner is an established dental/oral surgeon with 20 +years in practice. He is expanding to GW because of the unfulfilled demand for his services. Currently, there are no other investments like this one Note: The interior photos are examples of what the finished product will look like when completed.
Listing information courtesy of Coldwell Banker Commercial Prime Prop. - Timothy A Whitney -