USACOPagosa SpringsPiedra Estates - 02 Cnty Code 004602115 & 2117 Eagle Drive

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$790,000

For Sale

A year ago

2115 & 2117 Eagle Drive, Pagosa Springs, CO

MLS® 824318

0 Bed

3 Bath

5558 sqft

Key Facts
Description
Map

Key Facts

Type Mixed Use

Levels Commercial Sale

Size 5558 sqft

Garage No

HOA Fees

Taxes $4,805

Days Active 357

Approx. Age 1983

Avg. Price Per Sqft $142

MLS® Number 824318

Property Address: 2115 & 2117 Eagle Drive, Pagosa Springs, CO, 81147

Average square foot calculated using Size range provided by listing agent.

Description

A rare opportunity to acquire an income-producing commercial property in one of Colorado's fastest-growing mountain communities. After decades of stable ownership, this well-positioned asset at 2115 & 2117 Eagle Drive is being offered for the first time — situated on the Highway 160 frontage road in Pagosa Springs, benefiting from high daily traffic counts from both visitors and residents. The property is fully leased to two established, complementary tenants — a retail sunglass operation as the primary tenant and an automotive glass repair company occupying the rear building. This tenant synergy contributes to consistent occupancy and reliable income. The property is currently producing a 7.49% cap rate at the list price of $790, 000. A built-in value-add opportunity exists on the upper level: an approximately 500 sq ft multi-room office suite with a dedicated bathroom, currently unutilized. At an estimated lease rate of $800/month ($9, 600/year) and with negligible additional operating expense, this space has the potential to increase projected NOI to approximately $68, 771 — pushing the cap rate to an estimated 8.70%. Additional flexibility is built into the asset. Should the primary tenant vacate upon lease expiration — they hold a two-year renewal option with a scheduled rate increase (see lease for terms) — the main space offers conversion potential into a live/work configuration, further broadening the property's use case and appeal. Pagosa Springs continues to see strong population and economic growth, with over $70 million in active infrastructure and resort development investment driving increased commercial demand. This is a stabilized, cash-flowing asset with clear upside on the main commercial corridor.

MLS® Number824318

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageNo

Approx. Age1983

Stories2

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

May 20, 2025List Date

$790,000List Price

Commute

Commute

Starting Address

Destination Address

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