Sold
76 Sheppard Drive Unit: plus 234 Sawyer Drive
Durango CO, 81303
$2,965,000
$137.24 per sqft
Sold
2.5 Baths
21,604 sqft
Commercial
Built in 1997
Ferguson Leased Buildings is a chance to acquire a fully leased portfolio of industrial buildings totaling 21,604 sq ft on 3.5 Acres in Durango's Bodo industrial Park with currently a 5.8% Cap Rate. Class A "National Credit" tenant Ferguson Plumbing Supply has occupied the space for 20-plus years and the lease will be expiring in 2029 with three 3 year options to renew. Situated within the City of Durango in the Bodo Industrial Park provides easy access, City services including road maintenance, and is surrounded by complimentary businesses in this established Commercial area with very few vacancies. Convenient heavily trafficked Highway 160 / Highway 550 access, via frontage road fed from stoplight controlled intersection to accommodate large trucks and vehicles . SUMMARY: Ferguson Leased Buildings presents a portfolio of two properties with industrial buildings and fenced yard space comprised of 76 Sheppard Dr and 234 Sawyer Dr in Durango, CO. The two parcels total of 3.5 acres with maintained buildings. 1) 76 Sheppard Drive is a 14,478 Sq Ft with offices/showroom plus warehouse with loading dock door, fenced yard space, Situated on 1.323 Acres. 2) 234 Sawyer Drive is a 5,036 Sq Ft warehouse building with office/bathroom and ten loading dock doors, plus 2,090 sq ft shop with office and large truck wash & work bay on 2.165 acres. Both properties are to be purchased together with the long-term tenant. Ferguson Plumbing Supply has occupied both properties for twenty-plus years and counting. The current Triple Net Lease has approximately 6 years remaining running into 2029, with three "3 year" options to renew. Ferguson pays $8,753 per month NNN for 76 Sheppard Drive and $6,854 per month NNN for 234 Sawyer Drive. This brings in a annual net operating income of $187,284 per year. Ferguson Plumbing Supply is one of the country's largest distributors of plumbing supplies, waterworks, and fire fabrication products. Durango is a popular and prospering area located in southwestern Colorado. The Ferguson Leased Buildings are centrally located and a short drive to and from downtown Durango. Ferguson Leased Buildings is an ideal long term investment opportunity with up side benefits for a long-term lease on properties with buildings. Price is $150 per sq ft and far less than cost of land plus buildings with Ferguson paying all expenses plus rent as the icing on the cake.
799021
MLSⓇ ID
October 17, 2022
Listed
February 16, 2024
Updated
Map
76 Sheppard Drive Unit: plus 234 Sawyer Drive
Durango CO, 81303
Interior Features
Total Stories
1
Bathrooms
2.5 Baths
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Baseboard, Electric, Forced Air, Natural Gas
Exterior/Building Features
Lot Size
3.5 Acres
Other Property Details
Area Name
Durango In Town
Taxes
$31,790
Tax Frequency
Annually
Days on Market
106
Garage
No
Parking
Paved, Parking Space(s)
View
No
County
La Plata
Pool
No
Courtesy of Keller Williams Realty Southwest Associates, LLC with
Listing Contact: 970-375-3219
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Data last updated on: 2/16/2024