450 Lewis Street

Description

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 Worlds 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.