301 Broadway AveAlamosa, CO 81101

Property Details for 301 Broadway Ave

Lot size

0.55 AC

Property type

Residential income properties

Property subtype

Mobile home & RV parks

APN

541311209001

APU

541311209001

Description

This exceptional 7.5-acre mixed-use property in Alamosa, Colorado, presents a rare investment opportunity. Situated on the Rio Grande River with over 1,000 feet of river frontage, this location boasts high visibility and accessibility. The property currently generates immediate cash flow from its existing 20 residential and commercial units, a 483 square foot building. A significant advantage is the existing CDOT access permit allowing for the development of up to 40 mobile home park units. The property's prime location directly across the river from Alamosa's city hall and library complex, with convenient pedestrian bridge access to Cole Park, ensures high traffic and visibility. The high average annual daily traffic count of 15,000 vehicles further enhances its commercial potential. This versatile property offers numerous redevelopment possibilities, including a restaurant, RV resort, or multi-family housing development, capitalizing on the strong demand and desirable location. The substantial acreage and riverfront location provide ample space for expansion and future development, making this a truly unique and lucrative investment opportunity. The property is priced at $995,000.

• CAP approach

  CAP return

  Valuation

  6%

  $5,599,548

  6.5%

  $5,168,814

  7%

  $4,799,613

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,042,170

  Geo Method

  $3,068,086

• Alternative Use

  Use

  Valuation

  Residential

  $5,168,814

  Hospitality

  $4,734,606

  Educational

  $3,939,136

  Medical

  $4,074,609

  Retail

  $6,127,546

Location Insight

City

Alamosa

County

Alamosa

State

Colorado

Latitude

37.4716

Longitude

-105.86

Property Tax & Assessments

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