$3,424,000
1755 Lincoln Avenue represents a compelling opportunity to acquire an income-producing commercial property with significant long-term redevelopment potential along Steamboat Springs’ most important commercial corridor. Located on 1.44 acres with approximately 10,358 sf of retail and restaurant space, the property is fully leased to two established tenants. Strong contractual rent escalations provide additional income growth while evaluating redevelopment, entitlements and highest and best use. The existing income is an important part of the opportunity: but it may not be the primary driver of value. Recent nearby land sales indicate that Lincoln Ave. redevelopment sites are commanding values well above those supported by existing income alone. This creates an attractive investment profile: collect income today while controlling a strategically located site for tomorrow. This location is becoming even more compelling. Immediately adjacent, a new 115 +/- room Hyatt extended-stay hotel is under construction, bringing substantial new investment, lodging capacity and activity to this section of Lincoln Avenue. Just two lots away, a City-owned property is moving through a review process, adding another potential catalyst for change in the immediate neighborhood. With excellent Hwy 40/Lincoln Avenue visibility, Commercial Services zoning and +/- 62,700 sf of land, the site offers the opportunity to explore a variety of higher-density commercial or mixed-use concepts. Rather than requiring an immediate redevelopment decision, 1755 offers something increasingly difficult to find in Steamboat Springs: the ability to secure a highly visible redevelopment site while existing tenants generate meaningful cash flow during the planning and entitlement process. For an investor or developer focused on the long-term evolution of Lincoln Avenue, 1755 offers a unique combination of good income, limited carrying exposure, strategic location and significant future redevelopment potential.
S1071144
MLS
1755 Lincoln Ave, Steamboat Springs