12 Hotchkiss AveColona, CO 81403
- Retail properties
- 1,416 SF
Property Details for 12 Hotchkiss Ave
- Year built
- 1979
- Lot size
- 0.14 AC
- Property size (Sq ft)
- 1,416 SF
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 404117302001
- APU
- 404117302001
Description
This exceptional mixed-use property, located at 12 Hotchkiss Avenue in Colona, Colorado, presents a unique investment opportunity. Situated on a 0.18-acre lot at the corner of Highway 550 and Main Street, this 739-square-foot building boasts a rich history as the site of Ouray County's first railroad stop, dating back to the 1880s. The property benefits from its strategic location on a major highway corridor, experiencing high traffic volume with an estimated 3.5 million vehicles passing annually. Currently configured as a turn-key business, it offers immediate income potential. The sale includes all equipment, fixtures, decorations, and furnishings. A significant advantage is the large back patio, providing exceptional views, and a convenient drive-thru. While the existing "Zona Colona" business is not included in the sale, the property's versatile layout and ample space allow for a variety of uses. The property also includes two or more lots, providing significant room for expansion. Recent construction of turn lanes on Highway 550 ensures easy access for customers. This is a rare chance to own a piece of Colona's history and capitalize on its prime location and high traffic count.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $382,532
- 6.5%
- $353,107
- 7%
- $327,885
-
Comparable approach
- Method
- Valuation
- Relative Method
- $726,173
- Geo Method
- $294,815
-
Alternative Use
- Use
- Valuation
- Residential
- $297,859
- Hospitality
- $272,837
- Educational
- $226,997
- Medical
- $234,804
- Retail
- $353,107
Location Insight
- City
- Montrose
- County
- Ouray
- State
- Colorado
- Latitude
- 38.3257
- Longitude
- -107.779
- CBSA code
- 33940
- CBSA name
- MONTROSE, CO MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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