Eighteen units. One building. Right in the middle of town. Durango Suites & Salons is 5,749 sq ft of commercial space on an in-town 1/4 acre lot, and it's pretty much built for steady, low-stress income. Most of the 18 suites are leased to professionals in the cosmetic and personal care world, the kind of tenants whose clients book every few weeks, year-round, rain or snow. And speaking of snow, the parking lot faces south, so winter sun does a lot of the work for you, and there's plenty of room for both tenants and their customers. The location helps, too. You're a few minutes from the Durango Rec Center, the La Plata County Fairgrounds, north City Market, and a handful of local restaurants such as Zia's, Starbucks, Sage, Union social house, and coffee; which means clients can grab groceries or lunch on the same trip as their appointment. The current cap rate is 6%, with clear room to raise rents if wanted to be more competitive for the market. Annual taxes are only $13,394 and annual insurance runs $5,700, both paid by the owner. The building is on a single meter for electric (LPEA), water and sewer (City of Durango), and natural gas (Atmos), all paid by the owner. It's a solid in-town income property with upside built in. Historical use previously was a motel set up, but showers have been removed during conversion to the suites. Seller financing might be an option with cash down and credit checks, or this is a good candidate for lending as it has a pretty good cap rate.
| 3 days ago | Listing updated with changes from the MLS | |
| a week ago | Listing first seen on site |
