Setterfield & Bright Logo Aspen Real Estate Brokers
 
Home          
 
Testimonials


Contact Info
   
 

Commercial Properties

Print ASPEN DOWNTOWN COMMERCIAL CORE PROPERTIES
MARKET SALES DATA: 2006 - 2008
Print
Date
listed or sold
Building Address Price Approx
Size SF
Building
$/SF Condition
at the time of listing or sale
Comments
at the time of listing or sale
Lot Size
SF
Zoning
N/A=not applicable
Capitalization
Rate
On the Market for Sale:            
3/2008
Spring/Hopkins Corner
632 East Hopkins Ave
119 South Spring St
$6,500,000
5,348
$1,215
excellent
Leased to 3 office tenants on 2 floors, plus basement storage. 4,500
Commercial C-1
4%
Estimated
5/2006
Hampel Building
EXPIRED
408-414 E. Hyman Avenue
$17,000,000
10,892
Estimated
$1,561
Estimated
good
Leased to 4 local retail tenants on street-level and basement. 5 apartments on second floor. Adjacent to Duvike Building. 5,820
COMMERCIAL CORE CC
2.7%
approx.
9/2006
Aspenhof Bldg. Unit RB- 1
UNDER CONTRACT
520 East Cooper Ave.
lower level contact unit
$2,599,000
3,726
$698
good
Remodeled in 1996 & 2007. ALL BASEMENT-LEVEL with small front patio. Owner-operated bar/restaurant: "Aspen Comedy Club". N/A
N/A
COMMERCIAL CORE CC
N/A
N/A
9/2007
"Aspen Legacy" property
UNDER CONTRACT
517-521 East Hyman Ave
$39,000,000

N/A
N/A
N/A
good
5 lots, 2 with older buidings including "Little Annie's" restaurant. Includes unimproved corner parking lot. DEVELOPMENT PROPERTY. 15,000
COMMERCIAL CORE CC
N/A
N/A
6/2007
Crystal Palace Building
UNDER CONTRACT
300 East Hyman Ave.
$11,000,000
12,650
$870
Excellent
Two stories plus basement historic brick building with office tenants and a restaurant/theatre. SOLD WITH GRAND FINALE BLDG. 6,000
COMMERCIAL CORE CC
N/A
N/A
3/2007
Neil Ross Building
100 South Spring St.
$3,995,000
3,100
$1,289
Good
Two floors. Built in 1982. Fully leased (for one more year) to 4 office tenants and one apartment. 5 parking spaces. 3,000
Mixed Use MU
3.2%
approx.
2/2007
Mother Lode Bldg. Condos
NEW 3-stories plus basement
314 East Hyman Ave.
$37,000,000
22,103
under construction
$1,674
NEW April 2008
NEW 22,103 SF being built. Upper floors + garages, basement common areas are all residential. First floor is retail commercial. $5,000,000 for commercial 2,900 SF only = $1,724 per SF. 6,000
COMMERCIAL CORE CC
N/A
N/A
5/2006
Duvike Building
EXPIRED
420 East Hyman Avenue
$10,000,000
4,711
$2,123
good
Fully leased to retail and office tenants on two floors plus basement restaurant. Adjacent to Hampel Building. 3,009
COMMERCIAL CORE CC
2.7%
approx.
Total / Average For Sale: $127,094,000 62,530 $2,033          
                     
Date
listed or sold
Building Address Price Approx
Size SF
Building
$/SF Condition
at the time of listing or sale
Comments
at the time of listing or sale
Lot Size
SF
Zoning
N/A=not applicable
Capitalization
Rate
Sold Properties*:            
2/2008
Aspen Sq. Commercial B Condominium
614 East Durant Ave
$7,000,000
4,500
$1,556
excellent
Tenant, "Pomeroy Sports" bought its own retail condo unit including 3,500 SF street-level plus 1,000 SF basement. Prime corner. N/A
N/A
COMMERCIAL CORE CC
N/A
N/A
2/2008
La Fave Building
529-535 E. Cooper Ave.
$14,600,000
9,000
estimated
$1,622
estimated
poor
3 historic buildings connected as one building. 5 retail tenants, 1 office tenant, 5 apartments. AKA Stein Eriksen Building. 6,500
COMMERCIAL CORE CC
4%
approx.
10/2007
Grand Finale Building
312 East Hyman Ave.
$4,000,000
2,226
$1,797
Excellent
One story retail building. SOLD WITH CRYSTAL PALACE BLDG. 3,000
COMMERCIAL CORE CC
N/A
N/A
8/2007
Reide City Building
413 East Hyman Ave.
$3,000,000
1,580
$1,899
good
Single-tenant retail building. Partial second floor. Small apartment is included + 2 parking spaces in the alley. Leased to Emporio/Oakley. 1,813
COMMERCIAL CORE CC
5%
approx.
6/2007
Delice Building
409 East Hyman Ave.
$4,800,000
3,920
$1,224
Excellent
Remodeled in 2004. 2 floors above-grade, plus basement. Parking in back. Leased long-term to national retailer & local N Y Pizza. 1,600
COMMERCIAL CORE CC
5%
approx.
3/2007
Explore Building
221 East Main Street
$4,400,000
plus inventory
4,922
(per City of Aspen)
$894
Excellent
Historic building with many expansion/redevelopment possiblities. Fully occupied by "Explore Booksellers and Bistro" business with NO lease, @ NO rent. Price includes business (not cost of inventory). 6,000
MIXED USE MU
N/A
NA
2/2007
Isis Theater Bldg.
406 E. Hopkins Ave.
$7,497,000
24,356
$308
good
Historic building, redeveloped in 1999. Leased to 5-screen movie theater + affordable housing. Remodel needed for retail uses. 9,000
COMMERCIAL CORE CC
N/A
N/A approx.
10/2006
Cooper Street Pier Bldg
508 East Cooper Ave
$6,550,000
7,100
Estimated
$923
Estimated
poor
Owner/user restaurant for 32 years. VALUE IS IN THE POTENTIAL redevelopment for retail, office & residential. 2,400
Estimated
Commercial Core CC
N/A
N/A
10/2006
Hannah Dustin Building
300 South Spring Street
$7,300,000
6,775
$1,077
Excellent
Recently remodeled, 3-story building fully-leased to office tenants, plus lot next door for new building. 12,000
Neighborhood Commercial NC
4.6%
9/2006
Aspenhof Building Unit C-7
520 East Cooper Ave
$2,300,000
3,674
$626
excellent
Aspen Office Suites: 2nd floor, completely remodeled and upgraded with 19 offices. Fully-leased to small office tenants. N/A
N/A
COMMERCIAL CORE CC
5.1%
approx.
6/2006
Holtz Plaza Bldg
aka "Cantina Bldg."
411 East Main Street
$16,000,000
23,720
$675
good
Two floors plus apartment and basement. Fully leased to restaurants and office tenants Prime corner. Historic Building. 12,000
Estimated
COMMERCIAL CORE CC
5%
estimated
5/2006
Aspenhof Building Unit RB-1
520 East Cooper Ave.
$1,999,000
3,726
$537
good
Remodeled in 1996. All basement-level with a small front patio. Set up as a restaurant ("Montage"). Vacant . N/A
N/A
COMMERCIAL CORE CC
N/A
N/A
5/2006
Stage Three Theater Building
625 East Main Street
$5,000,000
8,733
$573
good
Was leased to Carmike Stage-3 movie theaters. Now vacant. 10,000

COMM-C1
N/A
N/A
4/2006
Polar Revolution Bldg
312 South Hunter Street
$4,040,000
2,275
$1,776
good
Leased to a snowboard/clothing shop. VALUE IS IN THE POTENTIAL redevelopment & expansion for retail, office or residential. 2,205
COMMERCIAL CORE CC
4.5%
approx.
4/2006
Durant Galena Building Unit 2
Basement level space
500 E. Durant Ave.
$1,800,000
6,148
$293
good
Basement nightclub space, vacant, formerly "Double Diamond. (Renovated and leased in 2005 to "Belly Up".) N/A
N/A
COMMERCIAL CORE CC
N/A
N/A
3/2006
Red Onion Bldg. Unit 4
414-416 E. Cooper Av.
$4,495,000
4,193
$1,072
Excellent
Mall-level only, 2 retail spaces. Leased to local ski business tenants. Near to Wagner Park on Cooper Avenue Mall. N/A
N/A
COMMERCIAL CORE CC
6%
3/2006
Wienerstube Building
633 East Hyman Ave.
$7,000,000
5,755
$1,216
good
Leased long-term to restaurant and bike shop. VALUE IS IN THE POTENTIAL redevelopment & expansion for retail, office & residential. 12,000
COMMERCIAL C-1
N/A
Unavailable
2/2006
Kobey Building
428 East Hyman Ave.
$10,500,000
9,800
$1,071
Excellent
First floor & basement leased to Quicklsilver. Second & Third floor are luxury residential apartments. Historic Bldg, all remodeled in 2001. 3,000
COMMERCIAL CORE CC
N/A
Unavailable
Total / Average of Solds: $112,281,000 132,403 $848   81,518
Does not include condo units
  4.9%
Does not include vacant properties
 
*Includes recent sales of large downtown commercial buildings (not all sales). Other sales data available upon request
 
Prepared by:
K. Setterfield
The information contained herein is from sources deemed to be reliable, but not guaranteed.
The reader is advised to conduct an independent investigation to determine reliability and accuracy
Revised 3/26/2008
 

Terms of Use | Privacy Policy      © Copyright 2005 Setterfield & Bright      Website Design and Development by
SkyeMark Business Solutions