1304 Main Ave, Durango, CO 81301

Property Description

Situated on the north end of Historic Downtown Durango, this corner location has excellent visibility. The lot can be either totally redeveloped or used as is. The tract of land includes a total of four structures: a commercial building on Main Avenue that can be used/leased as one or two spaces (with some division) and three residential buildings (four residential rental units) off of 13th Street. The commercial space also has storage in the large basement. The three residential structures are split into one with two units and two with single unit setups. Ample off street parking is available for all units. The pricing is based on what the property income can be as it is configured, or if the site was redeveloped, based on recent land sales in the vicinity of this property. This is a wonderful investment opportunity in the heart of Durango. current rents for the residential units are $3,950 per month the lease for the commercial office space that just vacated as the tenant needed more space was $3,500/ month which was reasonable for the space based on price per sf.