1485 Florida Road 17 units 4 buildings plus property Durango CO Real Estate
East Animas & Florida Commercial Center is offering a majority ownership interest in this Class 'A' Building. There are 17 individually deeded Condominium Units that total 26,545 sq ft with over 30,000 sq ft of buildings. Currently 13 Commercial Condominiums are leased, plus 4 residential Condominiums located on over 3.35 acres at the Northeast corner of the City of Durango at the 'CR 250 and Florida Road Stoplight'. This busy commercial center features neighborhood commercial businesses which include Domino's Pizza, San Juan Regional Medical Center, Salon, Macho's Restaurant, Star Liquor, Engineers, Insurance and Financial Advisors, plus there is adjacent 0.483 acre development parcel approved with plans for a 16 unit residential condominium project. With over 30,000 sq ft of concrete and steel constructed buildings built in 2009 the properties have long term rental history with low vacancy. Current monthly rent is over $37,000 per month gross from the commercial triple net leases, plus $3,400 per month from residential rental agreements. Rents are less than market rates and there is additional revenue available from a residential unit the owner keeps vacant for friends and family that could generate additional $1,600 per month. Potential Total Gross Income currently exceeds $500,000 per year. Call broker for details and do not show property without advance notice with Broker approval.