123 Kiowa AveFort Morgan, CO 80701

Property Details for 123 Kiowa Ave

Year built

1965

Construction

STEEL & CONCRETE

Lot size

0.58 AC

Property size (Sq ft)

23,398 SF

Property type

Banks

APN

R004623

APU

R004623

Description

This exceptional 22,153-square-foot office building, located at 123 E Kiowa Ave in Fort Morgan, Colorado, presents a unique investment opportunity. Priced at $1,300,000 ($58.68/sq ft), this traditional office building boasts a prominent downtown location, offering convenient access to a variety of amenities. Situated on over one acre of land encompassing two lots (one providing ample overflow parking), the property has served as a financial services building for over 50 years, most recently housing Wells Fargo. While Wells Fargo maintains a short-term lease, the building's B-1 Mixed-Use zoning allows for a wide range of potential uses, making it an attractive prospect for diverse businesses. Its established presence in the community since 1965, coupled with its proximity to restaurants, retail shops, Fort Morgan Community College, the Fort Morgan Museum, and Library Park, ensures high visibility and accessibility. This is a rare chance to acquire a substantial, well-located commercial property in a thriving Colorado community. The property's address is 123 E Kiowa Ave, Fort Morgan, CO 80701.

• CAP approach

  CAP return

  Valuation

  6%

  $6,455,810

  6.5%

  $5,959,209

  7%

  $5,533,551

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,566,681

  Geo Method

  $4,871,520

• Alternative Use

  Use

  Valuation

  Residential

  $5,026,816

  Hospitality

  $4,604,536

  Educational

  $3,830,920

  Medical

  $3,962,671

  Retail

  $5,959,209

Location Insight

City

Fort Morgan

County

Morgan

State

Colorado

Latitude

40.2503

Longitude

-103.801

CBSA code

22820

CBSA name

FORT MORGAN, CO MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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