218 Coffman St

218 Coffman St , Longmont, Colorado, 80501 | 1,696 sq.f | $ 875,000

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About This Restaurant

Investment Highlights

In the heart of Longmont. Possible Owner Carry Future improvements include revitalization of Coffman and a major transportation hub a block away

Executive Summary

This charming brick Victorian House is the longtime home to one of Longmont's favorite restaurants, Tortugas. The owners plan to retire after 30 years of success in the same spot. Very established location in the heart of Longmont, just West of Main Street. The property is in the Longmont development zone and will benefit from the Coffman Street Mobility Improvements that are officially in the pre-construction phase. There is a planned transportation hub a block away, just South of 1st Avenue. This hub will serve BRT, RTD, local bus service as well as the planned rail system. A more notable improvement will bring bike and pedestrian paths from 1st Ave to 9th Ave. This location will benefit greatly from this improved "multi-modal" traffic pattern. It is also located directly across the street from the very busy Longmont Post Office.The open floor plan serves as an 60 seat restaurant. There is also a bar on the second floor. The patio is a huge attraction during the spring, summer, and fall months and will seat an additional 25 guests. There are a lot of possibilities with this fantastic spot. This unique property is an iconic destination in Longmont. Tortugas has been a part of a lot of our personal histories in the Longmont area. It will be a top of mind location for whatever happens next. Tortugas will continue operating while the property is for sale. If you know the owners, take a minute to congratulate them. They are retiring on their terms after many successful years serving the Longmont Community. Please be respectful of their time. Showings will need to be scheduled outside of business hours and you must be accompanied by an agentThe current business is available separately. Owners will consider an owner carry with a significant down payment.

Property Details

  • Sale Type    Investment or Owner User
  • Sale Conditions    Build to Suit Build to Suit Bulk/Portfolio Sale Redevelopment Project Build to Suit
  • Property Type    Retail
  • Property Subtype    Restaurant Restaurant General Retail Freestanding General Retail Storefront Retail/Office Office Industrial Live Work Unit Restaurant
  • Building Size    1,696
  • Building Class    C
  • Year Built    1910
  • Price    875,000
  • Price Per SF    516
  • Cap Rate    4
  • NOI    35,000
  • Tenancy    Single
  • Building Height    1 Story
  • Building FAR    0.27
  • Land Acres    0.14 AC
  • Opportunity Zone    Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Amenities

  • 24 Hour Access
  • Bus Line
  • Courtyard
  • Restaurant

Nearby Amenities & Transportation

Retail U.S. Bank
Retail Bank of Montreal
Retail RedLine Athletics
Retail Jazzercise
Retail Dutch Bros
Retail Planet Fitness
Retail Club Pilates
Retail Safeway
Retail Starbucks
Retail WingStop

Property Taxes

Parcel Number 1315033-13-009 Improvements Assessment $75,832
Land Assessment $53,177 Total Assessment $129,009
Date Created: 2024-07-16 04:09:26 Last Updated: 2024-07-16 04:09:26
Address: 218 Coffman St , Longmont, Colorado, 80501