Vert Coworking, Fitness and Medical 1230 Big Thompson Ave

Investment Highlights

Situated along one of two main highways into town, ample private parking, surrounded by 14 lodging properties and affluent neighborhoods. Flexible zoning, zero flood risk, minimal fire risk, high ceilings, lots of natural light, New roof 2017, new paving 2021, Interior renovation 2021. Gently sloping lot, treed yard, beautiful views of the Estes Valley and Continental Divide, 2 blocks to Lake Estes, pedestrian/bike path on property.

Executive Summary

Versatile Commercial Investment Opportunity in vibrant Estes Park! Great access with plenty of private parking on Highway 34, one of the two main arteries into town for the 4 million-plus annual visitors. Fully Occupied: Completely renovated in 2021, the 14,776 sq ft building on a 1.4 acre gently sloped lot is 100% leased with multi-year tenants. Vert Coworking, a world-class coworking facility which includes a full fitness center in addition to workspaces, conference room and event spaces, currently occupies 65% of the building square footage. Two outdoor guide companies (one of which operates a popular bouldering gym in the building), a chiropractic office and two massage therapists lease the rest of the space. The large back field is perfect for events and has buildable area for potential expansion plans, employee housing, etc. All leases have a mutual termination clause in the event buyer requires entire building.Prime Location: Positioned at a high point on the east side of town, the property has great street exposure while providing majestic panoramic views of the Continental Divide. The property sits in the middle of a row of 14 lodging venues, from the iconic Stanley Hotel to a planned brand new Marriott Springhill Suites. It?s a short two blocks to all the recreational opportunities of Lake Estes. The pedestrian and bike trail along Highway 34 at the front of the lot makes it an easy walk or ride into downtown. Flexible Use Options: This is one of the rare ?Commercial Outlying? zoned properties on the east side of town and the only one on the market at this time. This zoning category allows very flexible commercial use if you want a crown jewel property for your or tenant businesses (restaurant, brewpub, event center, grocery, retail outlet, or dynamic business hub). CO zoning would even allow for the most extraordinary vacation home in the area! Owners are willing to negotiate sale of Vert Coworking along with the property.

• Sale Type    Investment or Owner User
• Sale Conditions    1031 Exchange 1031 Exchange Build to Suit Redevelopment Project 1031 Exchange
• Property Type    Office
• Property Subtype    Medical Medical General Retail Restaurant General Retail Storefront Retail/Office General Retail Health Club Medical
• Building Size    14,776
• Building Class    B
• Year Built/Renovated    1960/2021
• Price    2,400,000
• Price Per SF    162
• Cap Rate    4.81
• NOI    115,504
• Percent Leased    100
• Tenancy    Multiple
• Building Height    2 Stories
• Typical Floor Size    7,388
• Building FAR    0.24
• Land Acres    1.40 AC

• 24 Hour Access
• Controlled Access
• Conferencing Facility
• Fireplace
• Fitness Center
• Signage
• Skylights
• Storage Space
• Fully Carpeted
• High Ceilings
• Open-Plan
• Shower Facilities
• Drop Ceiling
• Yard
• Outdoor Seating
• Balcony
• Fiber Optic Internet
• Smoke Detector