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799 Tech Center Drive A Durango CO Real Estate

Multi-use building located in the Durango Tech Center just west of downtown Durango. Solid cap rate with long term, established tenants in place and potential to increase income by leasing the additional 3,100 sf that is currently vacant. 7,195 sf is currently occupied by the Department of Homeland Security until June 2021, and they are likely to agree to another five year extension when their current lease expires. This lease is all inclusive as is typical with government leases. A portion of their rent goes towards utilities, taxes, insurance, janitorial, and maintenance. 2,600+ sf of office and shop space is occupied by a local transportation company with their lease expiring at the end of May 2019. They are also likely to renew as they have been in this location for several years. In addition to monthly rent, they pay a prorata share of taxes, insurance, utilities and CAM fees. 3,100 sf of upper level space is vacant and could accommodate a variety of uses. The space is open and includes a bathroom and kitchenette area. There is plenty of on-site parking, and the property enjoys easy access from Highway 160 and Tech Center Drive. This is an ideal 1031 exchange property, or perfect for any investor looking for a strong cap rate with good tenants already in place.