970.728.6667| Main Street Webcam

 

   

Market Report on Commercial Properties in the Town of Telluride

8/19/2019

As we are in the middle of our summer season I would like to give a quick update on commercial activities in Telluride.

 

Notable transactions in 2018 and to date 2019:

 

Whole Building Sales:

 

  • The Bell Building, 217 West Colorado, sold 6/1/2018 for $2,995,000 MLS #32563

 

  • The Pederson Building, 398 West Colorado, sold 10/5/2018 for $7,440,000 MLS #35732

 

  • The Bank Building, 109 West Colorado, sold 11/15/2018 for $2,450,000 MLS #35785– TREB Sale

 

  • Plunge Landing Building, 290 S Townsend, sold 2/26/2019 for $5,700,000 MLS #37427

 

  • 221 South Oak, sold 7/17/2019 for $3,850,000 MLS #36908

 

Commercial Condominium sales:

 

  • 221 East Colorado Ave Wasatch II #J, sold 12/13/2018 for $1,035,000 MLS#35515– TREB Sale

 

  • Art House Corner of Fir and Pacific, sold a second time in 2 years on 1/15/2019 for $980,000 MLS #36750

 

  • 217 East Colorado Ave Wasatch II E &F, sold 5/14/2019 for $2,327,500 MLS # 36496

 

  • Pacific House, 124 East Pacific, sold 5/31/2019 for $735,000 MLS #35759

 

The following office spaces sold:

 

  • New San Juan Office suites 204, 220 East Colorado Ave. sold 11/30/2018 for $90,000 MLS #36369– TREB Sale

 

  • Black Bear Unit 202, 101 East Colorado, sold 3/8/2019 for $570,000 MLS# 36861

 

Availability in the commercial sector is still very slim and limited.

 

Current whole structure commercial properties listed include:

 

  • Fly Fishing Store, 121 West Colorado, Asking price $3,400,000 MLS #37309. This includes a full HARC approved set of redevelopment plans– TREB Listing

 

  • The Dahl Haus, 122 South Oak Street, Asking price $3,000,000 MLS #37105– TREB Listing

 

  • 121 North Pine Street Storage/Residential, Asking price $3,000,000 MLS #34234

 

  • 115 West Colorado, back to the market at Asking price $4,750,000 MLS # 37459

 

Commercial spaces listed include:

 

  • New San Juan Office suites 201 & 202, 220 East Colorado Ave. Asking Price $215,000 MLS #3691– TREB Listing

 

  • 214 East Colorado, Asking price $869,000 MLS #36843

 

  • Dakota Space, 220 East Colorado, Asking price $1,725,000 MLS #36984 For Real Estate. Asking price $1,850,000 MLS #36890 For Real Estate and business.

 

Under contract:

 

  • Butcher and Baker Building, 201 East Colorado, Asking price $3,500,000 MLS #37108

 

  • TBD S FIR STREET 2 Fir House Commercial 1, Asking price $1,010,000 MLS #33926

 

  • TBD S FIR STREET 2 Fir House Commercial 2, Asking price $1,425,000 MLS #33928 Recently Expired/Withdrawn Properties:

 

  • 115 West Colorado , Asking price $4,400,000 MLS #35263– This has returned to the market at $4,750,000 MLS # 37459

 

  • 373 West Colorado Unit 5, Asking price $999,000 MLS #36611

 

A few notable changes in business moves and startups:

 

  • The Last Dollar Saloon and the new National Restaurant behind the Last Dollar are open.

 

  • The Town of Telluride is completing the construction of the building on south Fir and Pacific on what Is locally known as the S.M.P.A. lot. This building contains underground parking, The Ah- Haa School for the Arts and Affordable Housing.

 

  • The Merriweather four corners project is moving along, one building on the corner of Fir and Pacific is complete. The Transfer warehouse received a facelift and has been conveyed to Telluride Arts, and the main building to the south of the Transfer warehouse is being finished.

 

  • The Pederson building on Colorado Ave. on the corner of south Aspen is approaching completion.

 

  • The Old Belmont and Shanghai buildings are undergoing a significant restoration and renovation.

 

  • Oxbow Leather has moved to 217 East Colorado Ave.

 

  • The Hotel Ajax site has been sold and new plans are expected soon.

 

Telluride Regional (San Miguel County) Commercial activity numbers*:

  Number of Transactions: Total Volume: Average price:

Full Year: 2018 Telluride

Region Commercial

Summary

Commercial Improved: 10

Commercial Vacant: 6

Development Vacant: 4

Commercial Improved: $16,294,600

Commercial Vacant: $1,454,000

Development Vacant: $12,739,000

Commercial Improved: $1,629,460

Commercial Vacant: $242,333

Development Vacant: $3,184,750

2019 YTD Telluride Re-

gion Commercial Sum-

mary

Commercial Improved: 13

Commercial Vacant: 7

Development Vacant: 1

Commercial Improved: $24,836,000

Commercial Vacant: $13, 088,500

Development Vacant: $3,975,000

Commercial Improved: $1,910,462

Commercial Vacant: $1,869,786

Development Vacant: $3,975,000


Enjoy this overview, feel free to contact me with questions about commercial property. If you or anyone you know is looking for a special investment or business type property please contact me, I may be able to match you up with a non-MLS or non-listed prop-erty, I always have something in my pocket or up my sleeve.

Thank you,

 

Dirk de Pagter

 

Telluride Real Estate Brokers, Inc.

 

970-728-6667-Office 970-708-3918-Cell

 

dirkdepagter@telluridecolorado.net

 

www.telluriderealestatebrokers.com

 

* Compliments of Telluride Land Title Guarantee Company. Tabulation of San Miguel County records that are believed to be reasonably accurate but are not Guaranteed.

Share This Blog:

  
Monday – Friday 9am-5pm