Development, Investment or Owner Operator Gem 1230 Big Thompson Ave 14,776 SF 100% Leased Office Building Estes Park, CO 80517 $3,348,812 CAD ($226.64 CAD/SF) 4.81% Cap Rate

Live your dream in Estes Park, Colorado with a live/work combo or adjacent commercial investments! NEW!: We're offering a right-of-first-offer for our off-market residence, a 4 bedroom, 4 bath 2,422 sq ft luxury townhome literally a 1-minute walk across the field from 1230 Big Thompson Ave at 1237 Timber Mountain Lane. Both properties have extraordinary views of Rocky Mountain National Park and the Continental Divide. Though never rented, the residence is zoned "Accommodations" and is not subject to the short term rental cap in Estes.
Estes is booming - The Sundance Film Festival just announced it's move to Boulder, CO and the Stanley Hotel & Film Center in Estes, just a couple minutes away, will host Sundance events. As of the November 24 Estes development code update, this property is eligible for a commercial/residential Planned Unit Development with density and height variances. 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. Estes Park, as a non-I70 Front Range resort option, is even more attractive with the over 200 multi-hour closures of the I-70 highway corridor over winter 2024/2025.
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 highly-amenitized coworking facility which includes a full fitness center in addition to workspaces, conference room and event spaces, currently occupies 68% of the building square footage. An outdoor guide company 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, workforce housing, etc. All leases currently run until 2027/2028 - great opportunity to earn rental income while determining redevelopment options.
Prime Location: Positioned at a high point on the east side of town, the property has great exposure and access directly on Hwy 34 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 the Estes Park Resort. 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 larger “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! The property is eligible for PUD density and height variances based on the recently updated development code.
Contact us now for more details and to discuss possibilities!