Published on: Thursday, May 23, 2024
Updated on: Friday, June 7, 2024
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About the Lister
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Name: Alex Kovacs
Company: Madison Commercial
Office Phone: 303-785-3803
Cell Phone: 303-514-7076
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  Trinidad retail storefront with apartment
116 Santa Fe Trail Trinidad Colorado , 81082
116 Santa Fe Trail Trinidad Colorado , 81082  Madison Commercial
Listing ID: CL-Colorado-10592

Purchase Option

Acquisition Option: Traditional Purchase
Cap Rate (%): 14
Net Operating Income: $18,000.00
Commission Split (%): 0
Quick Glance
Listing ID: CL-Colorado-10592
Status: Price not Disclosed
Financing: Third Party Financing
Occupancy: 100%
Year Build: 1900
Building Size: 2,633.00 SqFt
Lot Size: 6,611.00 SqFt.
No of Stories: 1
No of Parking: N/A
Offer to Millionaire Club: No
Business Available for Sale: No
Is Net Lease Investment: No
Property On Ground Lease: No
Building Status: Existing
Attached Documents
  • Download | Offering_Memorandum7.pdf ( 1,788.45KB)
Listing Summary
This is a renovated retail storefront with a 1 BR/1BA apartment added to the rear of the property. The building is presently operated as a recreational marijuana store with conditional use permit from the City of Trinidad. The retail unit is 100% leased at below market rent. The apartment was recently leased for a one year term.
Complete Details
Year Build: 1900
Building Size: 2,633 SqFt.
No of Stories: 1
Total Lot Area: 6611 SqFt.
No of Parking: N/A
No of Total Units: 2
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Heating and Cooling
Building Class: C
Property on Ground Lease?: No
Net Lease Investment?: No
Business Price Included?: No
Roofing: Not Specified
Occupancy: 100%
Full Description
Excellent retail storefront with Main Street visibility. Shared parking in front of the store. The apartment has separate street parking on W 1st Street, and separate access. Nicely renovated apartment with exterior entrance . Central location in close proximity to I 25 on/off ramp. Potential portfolio package with property listed at 409-419 N. Commercial Street. Conditional use permit for retail marijuana sales. SAFE Banking Act is pending in Congress which will allow normal banking. The property is leased below market rent. The market NOI indicates a cap rate of approximately 14%.
Additional Properties
Property Other Use
  • marijuan
  • residential
Property Highlights
  • Excellent retail storefront with Main Street visibility
  • Shared parking in front of the store. The apartment has separate street parking on W 1st Street, and separate access.
  • Nicely renovated apartment with exterior entrance
  • Central location in close proximity to I 25 on/off ramp
  • Potential portfolio package with property listed at 409-419 N. Commercial Street.
  • Conditional use permit for retail marijuana sales. SAFE Banking Act is pending in Congress which will allow normal banking
  • Excellent potential for live/work use
  • Retail rent is below market allowing for upside
  • Marijuana will soon be changed to Schedule III drug by DEA, allowing business expense deduction for Taxes
Features
  • retail storefront
  • apartment
  • This single story building is located one block east of I 25 in downtown Trinidad.
Actual - Cash Flow
Cash Flow Year Gross Income Effective GrossIncome Operating Expenses Net Operating Income Pre Tax Cash Flow Cap Rate
2024
$45,553.00
$0.00
$14,173.00
$18,053.00
$0.00
0%
Cash Flow for Current Listings
Listing Location
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