Setterfield & Bright
Aspen Real Estate Brokers
407 South Hunter Street #3 •Aspen, CO 81611
Office: 970-920-1833 • Fax: 970-920-1837
Karen Setterfield: karen@aspenreal.com
Galen Bright: galen@aspenreal.com

ASPEN DOWNTOWN COMMERCIAL CORE PROPERTIES
MARKET SALES DATA: 2007 - 2008
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
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
11/2007
Hampel Building
408-414 E. Hyman Ave
$17,000,000
10,545
Estimated
$1,612
Estimated
good
Leased to 4 local retail tenants on street-level and basement. 5 apartments on second floor. Adjacent to Duvike Building. 5,832
COMMERCIAL CORE CC
2.7%
approx.
9/2007
"Aspen Legacy" property
517-521 East Hyman Ave
$39,000,000
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
3/2007
Neil Ross Building
100 South Spring St.
$3,995,000
3,100
$1,289
good
Two floors. Built in 1982. Leased month-to-month 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 + basement
314 East Hyman Ave.
$37,000,000
22,103
under construction
$1,674
NEW Sept 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
5/2006
Duvike Building
EXPIRED
420 East Hyman Ave
$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: $113,495,000 45,807 $1,626 (Excludes land N/A for sale)
                     
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*:            
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
La Fave Building
529-535 E. Cooper Ave.
$14,600,000
9,200
Estimated
$1,587
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 storey retail building. SOLD WITH CRYSTAL PALACE BLDG. 3,000
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
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 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
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 approx.
 
*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
AS OF
June 4, 2008