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Downtown Aspen Commercial Core Properties
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Aspen Commercial Real Estate
MARKET SALES DATA: 2007 - 2010 |
Print |
Date
listed or sold |
Building |
Address |
List/Asking
PRICE
OR Sold Price |
Approx
Size SF
Building |
$/SF |
Listed By |
Comments
at the time of listing or sale |
Lot Size
SF |
Zoning |
Capitalization
Rate
N/A=not applicable |
| On the Market for Sale: |
|
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5/2010
|
Hannah Dustin Building
|
300 South Spring St.
|
$8,800,000
|
5,475
plus adjacent SF |
$1,242
|
Chaffin Light |
3 floors of leased office spaces with decks & views + small bsmnt. Includes ownership of 8 parking spaces in adjacent bldg and entitlements for 3,290 SF addn'l expansion for a total of 8,765 SF++ |
6,045
|
Commercial C-1
|
4%
estimated |
4/2010
|
Roaring Fork
Condominium Unit #16 |
415 East Hyman Ave Mall
Basement Unit |
$2,199,000
|
3,588
|
$613
|
Kruger & Co. |
Lower-level commercial condominium unit with windows on the Mall and owner-occupied by The Mustang restaurant. |
N/A |
COMMERCIAL CORE CC
|
N/A |
2/2010
|
North of Neil Commercial
Condominium Unit C4B |
555 East Durant Ave
|
$1,995,000
|
1,156
|
$1,726
|
Aspen Bus Brkr. |
Street-level commercial condominium unit leased to local retail tenant "Attic Fantasies" through April 2010. |
N/A |
COMMERCIAL CORE CC
|
N/A |
8/2009
|
625 Main Project
In Foreclosure |
625 East Main Street
|
$15,750,000
|
37,186
under construction |
$424
|
Frias Properties |
New mixed-use building excavated but not built, with plans & approvals in place to complete penthouses, offices, garage & affordable housing. |
10,000
|
COMMERCIAL C-1
|
N/A |
6/2009
|
The Millennium Building
|
426 East Main Street
|
$12,995,000
|
11,043
NEW |
$1,177
|
SDS Realty |
NEW 11,043 SF buildng being completed now. Includes 2,800 SF street-level retail/office + basement storage + 2nd floor 3 affordable housing units + top floor penthouse for $5,995,000 separate or included in this price. |
3,000
estimated |
COMMERCIAL CORE CC
|
N/A |
4/2009
|
A G Sheppard Building
|
302 East Hopkins Ave
|
$3,300,000
|
2,149
|
$1,536
|
CB Aspen Brkrs. |
Small historic victorian on a visible corner. Plans available for development of additonal building SF. Owner occupied as office. |
3,000
|
COMMERCIAL CORE CC
|
N/A |
1/2009
|
Tom Thumb Bldg
Units #B101 and #B201 |
400 East Hyman Ave
On the Mall |
$1,950,000
|
1,369
|
$1,424
|
Kruger & Co. |
Prime retail space with 409 SF on street-level and 960 SF below grade. Owner-occupied as a fine art gallery. |
N/A |
COMMERCIAL CORE CC
|
N/A |
9/2008
|
Amelia's Building
|
407 East Hyman Ave
On the Mall |
$3,995,000
|
3,531
|
$1,131
|
Setterfield & Bright |
2 stories. Leased to Aspen T-Shirt Co. and Ute Mountaineer Women through 2010. Next door to Delice Building. |
1,980
|
COMMERCIAL CORE CC
|
6.6%
|
8/2008
|
Delice Building
|
409 East Hyman Ave.
On the Mall |
$4,200,000
|
3,920
|
$1,071
|
Setterfield & Bright |
2 stories + basement. Leased to Billabong until October 2010 and local N Y Pizza restaurant long-term. |
1,600
|
COMMERCIAL CORE CC
|
6%
|
3/2007
|
Neil Ross Building
|
100 South Spring St.
|
$3,725,000
|
3,100
|
$1,289
|
FSBO |
Two floors. Built in 1982. Mostly vacant offices plus one rented residential apartment. 5 parking spaces. |
3,000
|
Mixed Use MU
|
N/A |
2/2007
|
Mother Lode Building
Commercial Unit - Street Level |
314 East Hyman Ave.
|
$4,000,000
|
2,932
NEW |
$1,705
|
Setterfield & Bright |
NEW 22,103 SF. Upper floors + garages, basement & common areas are all residential for sale @ $25,975,000. This commercial street-level Unit is separately for sale @ $4,000,000. |
6,000
|
COMMERCIAL CORE CC
|
N/A |
| Total / Average For Sale: |
$45,159,000 |
38,263 |
$1,180 |
Note: Totals do NOT include 625 Main Project (not built) |
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Date
listed or sold |
Building |
Address |
List/Asking
PRICE
OR Sold 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 |
Capitalization
Rate
N/A=not applicable |
| Sold Properties* 2007-10: |
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3/2010
|
Aspen Comm. Condominiums
Mill Street Mall Property |
305/307 South Mill St
On the Mall. |
$5,100,000
|
5,253
|
$971
|
good
|
2 Street-level restaurant units + 1 bsmnt & 2 patios. Unit B&C leased to "Pacifica". Unit A (+popcorn wagon) to be leased to a new tenant. |
6,031
|
COMMERCIAL CORE CC
|
5%
approx. |
9/2009
|
Gorsuch Building
|
419 East Cooper Ave
on the mall |
$5,000,000
|
7,513
|
$666
|
excellent
|
4,554 SF on street-level + 2,959 SF basement. Excludes 2 affordable houseing units. Gorsuch retail is leasing back the entire space. |
N/A |
COMMERCIAL CORE CC
|
8%
approx. |
7/2009
|
The Patio Building
|
630 East Hyman Ave
|
$4,600,000
|
12,016
|
$383
|
Average
|
Office building with many local tenants on 3 floors including "Sandy's Office Supply" on the main floor. |
6,000
|
COMMERCIAL C-1
|
Unavail. |
7/2008
|
North of Neil Commercial
Condominium Unit CB4 |
555 East Durant Avenue
|
$2,900,000
|
1,156
|
$2,509
|
excellent
|
Street-level commercial condominium unit leased to local retail tenant "Attic Fantasies". |
N/A |
COMMERCIAL CORE CC
|
N/A |
5/2008
|
Crystal Palace Building
|
300 East Hyman Ave.
|
$8,900,000
|
12,650
|
$704
|
good
|
Two stories plus basement historic brick building with office tenants and a restaurant/theatre. Sold with Grande Finale Bldg. below. |
6,000
|
COMMERCIAL CORE CC
|
N/A |
4/2008
|
Aspenhof Building Unit RB-1
Basement Unit |
520 East Cooper Ave.
|
$2,500,000
|
3,726
|
$671
|
good
|
Remodeled in 1996 & 2007. ALL BASEMENT-LEVEL with small front patio. Owner-operated bar/restaurant now closed. |
N/A |
COMMERCIAL CORE CC
|
N/A |
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 |
COMMERCIAL CORE CC
|
N/A |
2/2008
|
Bowman Block Building
(aka La Fave Building) |
529-535 E. Cooper Ave.
|
$14,600,000
|
10,303
|
$1,417
|
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
|
Grande Finale Building
|
312 East Hyman Ave.
|
$4,000,000
|
2,226
|
$1,797
|
excellent
|
One storey retail building. SOLD WITH CRYSTAL PALACE BLDG. |
3,000
|
COMMERCIAL CORE CC
|
N/A |
9/2007
|
Roaring Fork
Condominium Unit #16 |
415 East Hyman Ave
Basement Unit |
$2,000,000
|
3,588
|
$557
|
good
|
Lower level commercial condominium unit. Owner-occupied by a restaurant/nightclub. |
N/A |
COMMERCIAL CORE CC
|
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. |
7/2007
|
Whitaker / Forge Building
|
117 South Monarch
|
$6,200,000
|
6,940
|
$893
|
good
|
Leased to local office tenants. 2 stories plus basement & parking |
6,000
|
Mixed Use MU
|
N/A |
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
|
COMMERCIA CORE CC
|
5%
approx. |
3/2007
|
Explore Building
|
221 East Main Street
|
$4,400,000
|
4,922
(per City of Aspen) |
$894
|
excellent
|
Historic building with many expansion/redevelopment possibilities. 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
|
NA |
| Total / Average of Solds: |
$78,100,00 |
85,641 |
$912 |
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*Includes recent sales of retail properties and large commercial properties (not all sales) in the Aspen Downtown Commercial Core area only.
Other sales data available upon request. |
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Prepared by:
Karen 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
The properties shown above are to be presented for statistical market data analysis only. Some properties are listed by other brokers. |
AS OF
May 2, 2010 |
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