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Downtown Aspen Commercial Core Properties
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Aspen Commercial Real Estate
MARKET SALES DATA: 2007 - 2013 |
Print |
Date
Listed |
Building |
Address |
List/Asking
PRICE
OR Sold Price |
Approx
Size SF
Building |
$/SF |
Listed By |
Comments
at the time of listing or current |
SF
Lot Size
Land $/SF |
Zoning |
Capitalization
Rate
N/A=not applicable |
| On the Market for Sale: |
|
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12/2012
|
The LaCo Building
|
308 East Hopkins Ave
|
$9,975,000
|
6,750
|
$1,478
|
Lorrie B Aspen |
Ute City Grill/street-level 2,750 SF plus Syzygy restaurant/basement level 4,000 SF will vacate for new owner operators or new tenants. |
N/A
|
COMMERCIAL CORE CC
|
N/A |
5/2012
|
The Hampel Building
|
410 East Hyman Ave.
On the Mall |
$11,500,000
|
10,874
|
$1,058
|
Setterfield & Bright |
2 retail tenants plus 1 restaurant space for lease & 5 apartments all on 2 floors + lower level. On the sunny side of the Mall with UPSIDE! |
5,832
$1,972
|
COMMERCIAL CORE CC
|
3.8%
estimated |
4/2011
|
Riede's City Bakery Bldg
|
413 East Hyman Ave
on the mall |
$3,300,000
|
1,628
|
$2,027
|
Setterfield & Bright |
Single-tenant retail building CAN BE EXPANDED. Partial 2nd floor with small apt & 2+ parking spaces. Leased to "Crazy Shirts". Not in MLS. |
1,831
$1,802
|
COMMERCIAL CORE CC
|
4.7%
approx. |
12/2010
|
Park Central West Bldg
Condominium Units 201 & 202 |
210 East Hyman Ave.
|
$1,495,000
|
1,563
|
$956
|
Setterfield & Bright |
South-facing, upscale office suite units with 4 offices, conference room, reception, 2 bathrooms, outdoor deck & 2 parking spaces. |
N/A
|
OFFICE
|
N/A |
11/2010
|
The Golden Horn Bldg.
Under Contract |
400 East Cooper Ave.
On the Mall. |
$8,950,000
|
8,444
|
$1,060
|
Raczak R.E. Co. |
On the corner of the Cooper Avenue Mall next to Wagner Park. Fully-leased to 4 local retail, restaurant and office tenants. |
3,589
$2,494
|
COMMERCIAL CORE CC
|
3.6%
|
| Total / Average For Sale: |
$35,220,000 |
29,259 |
$1,204 |
|
|
14,252 |
|
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|
$1,666 |
Does not include condos: N/A |
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Date
Sold |
Building |
Address |
Sold
PRICE |
Approx
Size SF
Building |
$/SF |
Condition
at the time of sale |
Comments
at the time of sale |
SF
Lot Size
Land $/SF |
Zoning |
Capitalization
Rate
N/A=not applicable |
| Sold Properties* 2007-12: |
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1/2013
|
The MasonMorse Bldg
|
514 East Hyman Ave
|
$6,300,000
|
5,888
|
$1,070
|
excellent
|
2 story office building with basement, owned & occupied by Coldwell Banker MasonMorse R E with plans for a penthouse addition. |
3,000
$2100 |
COMMERCIAL CORE CC
|
N/A |
12/2012
|
Ellie's Building
|
101 South Mill Street
Corner of Main Street |
$12,000,000
|
14,811
|
$810
|
excellent
|
2 stories plus basement. Prime corner retail, restaurant & offices across from Hotel Jerome. American Nat'l Bank is the primary tenant. |
9,000
$1333 |
COMMERCIAL CORE CC
|
Unavail. |
12/2012
|
The Volk Plaza Building
|
500 East Cooper Ave.
Corner of Galena Street |
$17,250,000
|
9,698
|
$1,779
|
excellent
|
3 stories plus basement. Prime retail & offices on the BEST corner in downtown Aspen. Fully-leased to Loro Piana and 5 other tenants. |
3,978
$4336 |
COMMERCIAL CORE CC
|
4.6%
|
12/2012
|
Mountain Plaza Building
|
434 East Cooper Ave.
On the Mall. |
$22,000,000
|
16,954
|
$1,298
|
average
|
A+ 100% Location on a very prime downtown corner. Leased to retail, restaurant & office tenants. Lots of upside & redevelopment potential. |
9,022
$2438 |
COMMERCIAL CORE CC
|
4.2%
|
12/2012
|
Amelia's Building
|
407 East Hyman Ave
On the Mall |
$3,225,600
|
3,531
|
$914
|
excellent
|
2 stories. Leased to "Aspen T-Shirt Co." through 2020 and "Noori's" through 2021. Great location, visibility and potential. |
1,980
$1629 |
COMMERCIAL CORE CC
|
5.6%
|
12/2012
|
Aspen Sq. Commercial B
Retail Condominium |
614 East Durant Ave.
|
$7,500,000
|
4,466
|
$1,679
|
excellent
|
The tenant, "Pomeroy Sports", owns this retail condo unit including 3,590 SF street-level plus 876 SF bsmnt. Prime corner near gondola. |
N/A |
COMMERCIAL CORE CC
|
N/A |
10/2012
|
The GAP Building
|
204 South Galena St.
Corner of Hopkins Ave. |
$15,000,000
|
11,117
|
$1,349
|
good
|
Street-level & basement spaces fully leased to the GAP through November 2012 plus 3,000 SF parking lot. Redevelopment value. |
9,000
$1,667 |
COMMERCIAL CORE CC
|
2.4%
|
8/2012
|
Mother Lode Building
Condominium Unit #101 |
314 East Hyman Ave.
Commercial Unit - Street Level |
$3,200,000
|
2,932
NEW |
$1,091
|
NEW
|
NEW commercial street-level unfinished and vacant Retail Condominium Unit. Does not include residential unit. |
N/A |
COMMERCIAL CORE CC
|
N/A |
6/2012
|
The Taylor Building
|
602 East Hyman Ave.
Corner of Hunter Street |
$6,700,000
|
7,071
|
$948
|
good
|
Can be office or retail with a residential apartment on the 2nd floor & 6 parking spaces. Fully-leased. Expansion possibilities. |
6,000
$1,117 |
COMMERCIAL C-1
|
4.3%
|
4/2012
|
A G Sheppard Building
|
302 East Hopkins Ave
|
$2,800,000
|
2,149
|
$1,303
|
excellent
|
Small historic victorian on a visible corner. Plans available for development of additonal building SF. Owner occupied as office. |
3,000
$933 |
COMMERCIAL CORE CC
|
N/A |
6/2011
|
Tom Thumb Bldg
Units #B201 and #B102 |
400 East Hyman Ave
On the Mall |
$1,000,000
|
1,369
|
$730
|
good
|
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 |
5/2011
|
Tom Thumb Bldg
Units #C101, C201, C301 |
400 East Hyman Ave Mall
|
$2,800,000
|
2,109
|
$1,328
|
good
|
3 very prime commercial condo units (garden level, street-level & 2nd floor) great visibility on the corner of Mill Street. |
N/A |
COMMERCIAL CORE CC
|
N/A |
2/2011
|
Roaring Fork Building
Condominium Unit #16 |
415 East Hyman Ave Mall
Lower Level Unit |
$1,580,000
|
3,588
|
$440
|
excellent
|
Lower-level commercial condominium unit with windows on the Mall and owner-occupied by The Mustang restaurant. |
N/A |
COMMERCIAL CORE CC
|
N/A |
11/2010
|
623 East Hopkins Avenue
|
623 East Hopkins Ave
|
$2,500,000
|
1,961
|
$1,275
|
good
|
3 small victorian era historic buildings leased to local tenants including 2 salons, a consignment store and offices. Mainly LAND VALUE. |
6,000
$417 |
COMMERCIAL C-1
|
Unavail. |
11/2010
|
Aspen Legacy Property
|
517 & 521 E Hyman Ave
corner of Hunter Street |
$17,750,000
|
8,762
|
$2,026
|
Average
|
5 city lots of 3,000 SF each including 2 buildings & an undeveloped parking lot. 3,000 SF leased to a restaurant, some historic considerations. Mainly LAND VALUE. |
15,000
$1,183 |
COMMERCIAL CORE CC
|
NA |
8/2009
|
625 Main Project
Sold at Auction in August & closed in Sept 2010. |
625 East Main Street
|
$3,780,000
|
37,186
under construction |
$102
|
construction with plans
|
New mixed-use building excavated but not built, with plans & approvals in place to complete penthouses, offices, garage & affordable housing. |
10,000
$378 |
COMMERCIAL C-1
|
N/A |
5/2010
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Spring/Hopkins Corner
|
632 East Hopkins Ave
119 South Spring St. |
$3,100,000
|
5,348
|
$580
|
excellent
|
2nd floor leased to 2 office tenants. First floor vacant. Small basement storage and 5 parking spaces. Redevelopment opportunity. |
4,500
$689 |
COMMERCIAL C-1
|
NA |
4/2010
|
Mill Street Mall Property
Aspen Comm. Condominiums |
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
$846 |
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
AKA the Crandall 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
$767 |
COMMERCIAL C-1
|
Unavail. |
7/2008
|
North of Nell Commercial
Condominium Unit C4B |
555 East Durant Avenue
|
$2,900,000
|
1,156
|
$2,509
|
excellent
|
Street-level commercial condominium unit leased to local retail tenant "Attic Fantasies". Buyer owns several adjacent units. |
N/A |
COMMERCIAL CORE CC
|
6%
estimated |
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
$1,483 |
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 3,590 SF street-level plus 876 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
$2,246 |
COMMERCIAL CORE CC
|
4%
approx. |
10/2007
|
Grande Finale Building
|
312 East Hyman Ave.
|
$4,000,000
|
2,226
|
$1,797
|
good
|
One story retail building. SOLD WITH CRYSTAL PALACE BLDG. |
3,000
$1,333 |
COMMERCIAL CORE CC
|
N/A |
| Total / Average of Solds: |
$177,555,600 |
161,063 |
$1,102 |
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105,011 |
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Note: Totals do NOT include 625 E Main Street: Not built at the time of sale. |
$1,408 |
Does not include condos: N/A |
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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
February 15, 2013 |
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