850 BroadwayJackson, WY 83001

Property Details for 850 Broadway

Year built

1974

Lot size

0.84 AC

Property size (Sq ft)

15,089 SF

Property type

Mixed-use properties

Description

This exceptional mixed-use property, located at 850 W Broadway Avenue in Jackson, Wyoming, presents a compelling value-add investment opportunity. The 15,089 square foot building, constructed in 1974 and renovated in 2016, sits on a 0.84-acre lot and is currently 100% occupied by three tenants. The property boasts a strong current NOI of $362,400, representing a 2.42% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $701,305 and a 4.68% cap rate, indicating substantial upside potential. The asking price is $15,000,000, translating to $994.10 per square foot. Situated just a mile from Jackson Hole's Town Square, this one-story building benefits from high visibility and significant foot traffic due to its prime location near banks, hotels, restaurants, and shopping. The flexible floor plan is well-suited for a variety of commercial uses, including retail, office, or restaurant space. The property is zoned Commercial Residential 3, offering versatility for future development. This asset offers a unique chance to capitalize on the thriving Jackson Hole market, known for its high average per capita income and substantial annual tourism revenue. The property's strong current performance and significant pro-forma growth projections make it an attractive investment for discerning buyers seeking a high-return opportunity in a desirable location. The APN is 22-41-16-33-2-00-006.

Location Insight

City

Jackson

County

Teton

State

Wyoming

Latitude

43.4734

Longitude

-110.781

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