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457 E. Hopkins Avenue
Aspen  CO  81611

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ASPEN DOWNTOWN SOLD COMMERCIAL CORE PROPERTIES

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Aspen Downtown Sold Commercial Core Real Estate Updates

MARKET SALES DATA: 2012 - 2016

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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:            
9/2016
Rubey Park Building
aka Park Place Condo Units
408 S. Mill Street
$3,286,000
4,738
$694
good
2-story + basement + deck. Former McDonald's restaurant with full kitchen. Vacant with some deed restrictions. Adjacent to Rubey Park Bus Station. N/A COMMERCIAL CORE CC
N/A
7/2016
Williams Hall Building
228 S. Mill Street
$5,400,000
3,978
$1,357
good
2-story + basement historic building with local art gallery tenant on the street-level and vacant 2nd floor office. Basement leased as storage. 1,900
$2,842
COMMERCIAL CORE CC
2.4%
7/2016
Mountain Forge Building
230 E Hopkins Avenue
Corner of Monarch Street
$8,500,000
7,820
$1,087
good
Mixed-use office building with one apartment and 4 local office tenants on 3 floors, plus 9 parking spaces. Fully-leased. 6,000
$1,417
Mixed Use MU
3.6%
6/2016
Wheeler Square Bldg
Unit 303
315 E Hyman Avenue
$3,100,000
2,674
$1,159
fair
Commercial condo Unit on street-level & basement. Seller is owner/user bicycle shop as the tenant. Bike shop closing after sale. N/A COMMERCIAL CORE CC
N/A
12/2015
The LaCo Building
Sold in Foreclosure
308 E Hopkins Avenue
$5,500,000
8,560
$643
good
Street-level retail /restaurant space 2,749 SF and basement nightclub space 4,021 SF + 3 affordable housing units. N/A COMMERCIAL CORE CC
N/A
10/2015
Red Onion Building
On the Mall
414-422 E Cooper Avenue
$18,000,000
Unavailable
15,774
$1,141
good
Retail & Office condominium building including restaurant tenant "Red Onion". 2 floors plus small basement. All fully leased. 9,000
$2,000
COMMERCIAL CORE CC
Unavail.
9/2015
Delice Building
409 E Hyman Avenue
On The Mall
$5,000,000
3,920
$1,276
good
Street-level + basement retail space and 2nd floor restaurant space fully-leased to 2 local tenants: Green Dragon & New York Pizza. 1 parking space. 1,600
$3,125
COMMERCIAL CORE CC
unavailable
5/2015
Boogie's Building
534 E Cooper Avenue
$27,500,000
13,984
$1,967
excellent
Corner building with seller/owner-user retail on street-level, closed restaurant on 2nd level + affordable housing apartment & basement. 6,250
$4,400
COMMERCIAL CORE CC
Unavail.
4/2015
Roaring Fork Bldg Unit 16
419 E Hyman Avenue
On the Mall
$4,550,000
3,558
$1,279
excellent
Basement retail unit beautifully finished as a restaurant. Seller/owner- user closing the restaurant. Ready for a new tenant. N/A COMMERCIAL CORE CC
N/A
4/2015
Paragon Bldg Unit 5
419 E Hyman Avenue
On the Mall
$1,950,000
2,567
$760
poor
Basement retail unit partially finished as a bar/lounge. Vacant and unleased. Easement access from Roaring Fork Bldg next door. N/A COMMERCIAL CORE CC
N/A
4/2015
The Hampel Building
410 E Hyman Avenue
On the Mall
$9,500,000
10,920
$870
good
2 retail tenants plus 1 restaurant tenant & 5 apartments all on 2 floors + lower level. On the sunny side of the Mall with UPSIDE! 5,832
$1,629
COMMERCIAL CORE CC
4.4%
2/2015
The Golden Horn Bldg.
400 E Cooper Avenue
On the Mall
$6,650,000
8,444
$788
fair
On the corner of the Mill Street Mall next to Wagner Park. Fully-leased to 4 local retail, restaurant and office tenants. 3,589
$1,853
COMMERCIAL CORE CC
4.9%
1/2015
Explore Books Building
221 E Main Street
$5,000,000
4,922
$1,016
good
Bookstore business included + 2nd floor restaurant tenant. Beautiful Victorian with potential for retail, office, residential & redevelopment. 6,000
$833
Mixed Use MU
N/A
1/2015
625 Main Building Unit 204
625 E Main Street #204
$2,485,000
2,172
$1,144
NEW
'2nd floor office condo unit in all new building. Vacant move-in condition with large deck, elevator, 2 bathrooms, kitchenette. N/A Mixed Use MU
N/A
11/2014
Loma Alta Building
426 E Hyman Avenue
On the Mall
$8,000,000
9,720
$823
excellent
Price = $7.8M + $200,000 commission. Street-level retail, 2nd floor office, 3rd floor apartments plus basement nightclub. Fully-leased. 3,000
$2,667
COMMERCIAL CORE CC
unavailable
7/2014
Delice Building
409 E Hyman Avenue
On the Mall
$4,750,000
3,920
$1,212
good
Street-level plus basement retail space and 2nd floor restaurant space fully-leased to 2 local tenants: Koto & New York Pizza. 1 parking space. 1,600
$2,969
COMMERCIAL CORE CC
3.9%
7/2014
Griffith Building
411 E Hyman Avenue
On the Mall
$2,520,000
1,561
$1,614
good
Street-level retail plus 2nd floor apartment fully-leased to local tenants. 2 parking spaces in back. 1,400
$1,800
COMMERCIAL CORE CC
3.5%
6/2014
Aspen Daily News Bldg
517 E Hopkins Avenue
$10,000,000
18,241
$548
fair
Three story building with several local retail tenants, two big office tenants and 4 affordable housing apartments. 9,000
$1,111
COMMERCIAL CORE CC
5%
estimated
5/2014
316 Building
316 E Hopkins Avenue
$3,200,000
2,986
$1,072
excellent
Single story historic building with full basement leased to a local restaurant long-term. 3,000
$1,067
COMMERCIAL CORE CC
4%
estimated
5/2014
Sequin Building
304 E Hopkins Avenue
$4,250,000
5,508
$772
fair
Two story building with 3 local restaurant tenants and 2 affordable housing units. 3,000
$1,417
COMMERCIAL CORE CC
5.7%
5/2014
Riede's City Bakery Bldg
413 E Hyman Avenue
on the mall
$3,400,000
1,628
$2,088
excellent
Single-tenant retail building CAN BE EXPANDED. Partial 2nd floor with small apartment & 2+ parking spaces. Leased to "Crazy Shirts". 1,831
$1,857
COMMERCIAL CORE CC
4.7%
1/2014
Paragon Bldg Units 2 & 6
419 E Hyman Avenue
on the mall
$5,000,000
4,147
$1,206
excellent
One street-level retail unit and larger basement unit for sale as REO property. Both units are vacant / unleased. N/A COMMERCIAL CORE CC
N/A
9/2013
The Crystal Palace and
Grande Finale Buildings
300-312 E Hyman Avenue
Corner of Monarch St.
$12,500,000
14,876
$840
good
Two stories plus basement historic brick building with office tenants and a restaurant / theatre and one story retail building together. 9,000
$1,389
COMMERCIAL CORE CC
N/A
8/2013
Paragon Bldg Unit 5
419 E Hyman Avenue
On the Mall
$1,050,000
2,657
$409
fair
Basement retail unit for sale as REO property. Vacant / unleased. N/A COMMERCIAL CORE CC
N/A
7/2013
Tom Thumb Bldg
Units #A202, B201, B301
400 E Hyman Avenue Mall
On the Mall
$2,075,500
1,824
$1,138
good
3 prime commercial condo units (one small street-level & two 2nd floor units). N/A COMMERCIAL CORE CC
N/A
1/2014
Paragon Bldg Units 2, 5 & 6
Sold in foreclosure
419 E Hyman Avenue
On the Mall
$5,925,000
7,450
$795
excellent
One street-level retail unit and 2 basement units acquired by the lender in a foreclosure sale. All units are vacant/unleased. N/A COMMERCIAL CORE CC
N/A
1/2013
The MasonMorse Bldg
514 E Hyman Avenue
$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
$2,100
COMMERCIAL CORE CC
N/A
12/2012
Ellie's Building
101 S Mill Street
Corner of Main Street
$12,000,000
18,570
$646
excellent
2 stories plus basement. Prime corner retail, restaurant & offices across from Hotel Jerome. American Nat'l Bank is the primary tenant. 9,000
$1,333
COMMERCIAL CORE CC
Unavail.
12/2012
The Volk Plaza Building
500 E Cooper Avenue
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
$4,336
COMMERCIAL CORE CC
4.6%
12/2012
Mountain Plaza Building
434 E Cooper Avenue
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
$2,438
COMMERCIAL CORE CC
4.2%
12/2012
Amelia's Building
407 E Hyman Avenue
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
$1,629
COMMERCIAL CORE CC
5.6%
12/2012
Aspen Sq. Commercial B
Retail Condominium
614 E Durant Avenue
Corner of Hunter Street
$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 S Galena Street
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 E Hyman Avenue
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 E Hyman Avenue
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 E Hopkins Avenue
Corner of Monarch St.
$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
Total / Average of Solds: $263,317,100 250,835 $1,050       123,232    
    $1,767 Does not include condos: N/A

*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.

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
December 31, 2016
 

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