450 Lewis Street

Pagosa Springs, CO 81147

$1,600,000
Price
Beds
2
Baths
2
1/2 Baths
9,722 Sq. Ft.
$165 / Sq. Ft.
9,722
Sq. Ft.
$165
per Sq. Ft.

Description

Pagosa Valley Properties is pleased to present the opportunity to purchase an exclusive investment opportunity, The Lewis Street Building. Improvements consist of a 9,722 Square Foot, multi-tenant office building located in a rapidly developing yet historic part of Pagosa Springs, CO. Originally built in 1983 but remodeled in 2004, The Lewis Street Building offers a significant value add via adaptive re-use with the ability to convert to office, retail, restaurant, or even residential condominiums....Pagosa Valley Properties is pleased to present the opportunity to purchase an exclusive investment opportunity, The Lewis Street Building. Improvements consist of a 9,722 Square Foot, multi-tenant office building located in a rapidly developing yet historic part of Pagosa Springs, CO. Originally built in 1983 but remodeled in 2004, The Lewis Street Building offers a significant value add via adaptive re-use with the ability to convert to office, retail, restaurant, or even residential condominiums. This asset is a great owner opportunity that also gives investors the opportunity to purchase at a significant discount with a huge value add opportunity through soft repositioning and long-term leasing strategies. This is a highly attractive opportunity to acquire an established office building that is almost 100% leased. Archuleta County is one of the most dynamic hotspots for entrepreneurs and small business owners. The Lewis Street Building is ideally located adjacent to the World’s Deepest Hot Springs, a locally owned ski resort with the best snow in Colorado, the finest white water rafting the San Juans have to offer, and boutique restaurants with mentions in national publications amongst other local gems. Cap rate of 5.22% points to a low risk investment, please reach out to agent for OM.
  1. Listed by Irene Diaz • Pagosa Valley Properties

Property Details for 450 Lewis Street

Water Front
No
Zoning
Mixed Use
LISTING UPDATED: 09/30/2024 01:28 PM

Property Details for 450 Lewis Street

StatusActive
MLS #814777
Days on Market159
Taxes$1,694 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial / Multi-Use
Year Built1983
Lot Size0.17 AC / 7,405 SF
CountyArchuleta County

Building Information for 450 Lewis Street

Stories-Residences19Year Built1983Lot Size0.17 AC / 7,405 SF

Property Information for 450 Lewis Street

Summary
Location and General Information
  • Directions: HWY 160 to Lewis St. Building is to the right of Colorado Title Services
  • Property Known As: The Lewis Building
Owner
  • Owner Name: CThree LLC
Parking
  • Carport Y/N: No
  • PARKING: Paved, Dirt, On Street, Off Street, In Rear of Building
Taxes and HOA Information
  • Tax Year: 2023
  • Total Taxes $: 1694.24
Property
Property and Assessments
  • FIPS Code: 08007
  • Legal/Lot Block: Subdivision: LEWIS BUILDING CONDOMINIUMS-COMM Units: 1A, 2A, A3-A7, B1-B3, C1-C9, LBC BOTTOM FLOOR GCE, TOP FLOOR LCE, MEZZANINE LCE Sec: 13 Twn: 35 Rng: 2W
  • Photo Count: 29
  • New Construction Y/N: No
  • Covenants Y/N: YES
  • Board Name: Pagosa Springs
Lot Information
  • Special Assemnt Y/N: No
  • Water Rights/Irrigation: No
  • Current Property Use: General Office, Retail Storefront
  • Possible Property Use: General Office, Lodging, Mixed-Use, Restaurant, Retail Storefront
  • Lot Dimension: 160X50
  • Parcel ID #: 5.69913338001E11
  • SqFt Source: Appraisal
Utilities
  • Internet Service Y/N: Yes
  • Internet Provider: Visionary
  • DOMESTIC WATER: Tap Installed Paid, Water Installed
  • Total # Water Meters: 1
  • Total # Gas Meters: 1
  • Total # Electric Meters: 1
  • Existing Utilities: Electric, Internet, Natural Gas, Phone, Water
  • Water Well: No
Multi Family
Multi-Family Information
  • # of Units: 19
Interior and Exterior Features
Room Information
  • 1/2 Baths: 2
  • 3/4 Baths: 0
  • 1/4 Baths: 0
  • Total Baths: 4.00
Interior Features
  • Furnished: Unfurnished
  • Main SF: 4486
  • Upper SF: 5236
  • Florring: Carpet, Concrete, Tile, Vinyl, Wood
  • Heating Fuel/Source: Natural Gas
  • Cooling: Forced Air
  • Heating System: Forced Air
  • Heat Type: Forced Air
  • Lighting: Fluorescent, Incandescent
Exterior Features
  • Roof: Metal
Rental
Rental Information
  • CAM Y/N: No

Property History for 450 Lewis Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 450 Lewis Street

Taxable ValueLand-Additions-Total-
Home Facts
Total Finished SqFt232 SqFtAbove Grade Finished SqFt232 SqFtStories2Lot Size232 SqFtStyleGovernmental / Public UseYear Built1983ZoningMIXED-USE TOWCountyARCHULETAAPN569913338021

Schools near 450 Lewis Street

This home is within Archuleta County 50 Jt School District.
Rating
School
Type
Grades
Distance
Public - K to 4
Public - 5 to 8
Public - 9 to 12
Charter - K to 8
Rating
School
Distance
Pagosa Springs Elementary School
PublicK to 4

Pagosa Springs Middle School
Public5 to 8

Pagosa Springs High School
Public9 to 12

Pagosa Peak Open School
CharterK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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450 Lewis Street is a mixed use property for sale in Pagosa Springs, CO 81147. This property was listed for sale on June 12, 2024 by Pagosa Valley Properties, it's currently listed at $1,600,000. This listing's school district is Archuleta County 50 Jt School District. Nearby schools include Pagosa Springs Elementary School, Pagosa Springs Middle School and Pagosa Springs High School. 450 Lewis Street is a 0-bed, 3-bath, 9,722 sqft mixed use property built in 1983.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Pagosa Valley Properties, Irene Diaz

Based on information from one of the following Multiple Listing Services: CRENMLS, Telluride Association of REALTORS, Grand Junction Area REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRENMLS, Telluride Association of REALTORS, Grand Junction Area REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.