301 E Hopkins Avenue

Aspen, CO 81611 / Townsite of Aspen

MLS ID# 155636 Closed
Leasehold

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Lease $790,000

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• Description
• Location Info
• Lease Info
• Financing Info
• Listing Info
• General Info
• Details

Description

The price is $765,000 for a lease/asset purchase. This is a rare opportunity to take over 3 long-term restaurant leases in the downtown core of Aspen, including the valuable existing build-out, below market rents, outdoor dining patios, all FF&E, and much more, providing maximum flexibility & opportunities for a new operator. Rustique Bistro is a traditional full restaurant & bar concept with an open kitchen, street-level dining & patio, plus a lower-level private dining/wine room and prep kitchen. Cooking School of Aspen is a lower-level flexible space for dining, cooking classes, special events of all sizes with all new state-of-the-art kitchen equipment installed in 2016. The charming Cottage was updated in May 2018 for special events. Seller prefers to close in the Spring 2019.These 3 leases provide an amazing synergy of spaces, assets and ambiance for a new restaurant operator to launch exciting new concepts and/or to continue with the existing success. The Sale and Assignment of the 3 leases (including all existing FF&E and more) are offered for $765,000. The current average NNN Base Rent for all 3 spaces is about $36 per SF. The current average CAMs (taxes, insurance, shared utilities, common area maintenance and management) for all 3 spaces is about $20 per SF. The total average gross rent is about $58 per SF. The price is $765,000 for a lease/asset purchase. This is a rare opportunity to take over 3 long-term restaurant leases in the downtown core of Aspen, including the valuable existing build-out, below market rents, outdoor dining patios, all FF&E, a... show more

Location Info

• Type Leasehold
• Major Area Aspen
• Area 01-Central Core
• Street # 301
• Street Direction Pfx E
• Street Name Hopkins
• Street Suffix Avenue
• City/Town Aspen
• State/Province CO
• Postal Code 81611

Lease Info

• Total Building SqFt 19952.00
• Unit SqFt Multiple Units
• Type of Lease NNN

Financing Info

• Annual Tax P/SqFt 0
• Tax Year 2017
• Total Expense PYear 0
• Security Deposit 25500
• Security $Payable To Landlord/bldg owner

Listing Info

• Landlord Name Rustique, LLC
• TB% 5
• BB% 5
• Variable Comm True
• Flat Fee No
• Agency Excl Right to Sell
• Member Association Aspen Association

General Info

• SubLoc Townsite of Aspen
• County Pitkin
• Legal Leasehold interest in 5 commercial condominium units at the Katie Reed Plaza.
• Zoning CC
• Lot SqFt 9000
• Nbr of Acres 0.21
• Unit SqFt 7325
• Under Construction No
• Business Name Rustique & Cooking School
• Inventory No
• Account # R016426
• Parcel # 273707382005
• Year Built 1995
• Year Remodeled 2018
• Directions Going east on Main Street, turn right on Monarch Street, Katie Reed Plaza is on the South/East corner of Hopkins Avenue and Monarch Street.

Details

• Allowable Uses

  Mixed Use, Restaurant/Bar, Retail

• Current Use

  Restaurant

• Construction

  Brick, Frame

• Condominiumized

  Yes

• Substructure

  Finished Basement

• Roof

  Membrane

• Condition

  Excellent

• Heating/Cooling

  Central AC

• Electric

  Yes

• Gas

  Natural Gas

• Water

  City

• Sanitation

  Sewer

• Tenant Pays

  Annual Escalation, Association Fees, Building Insurance, Deposit, Electric, Exterior Maintenance, Gas, Interior Maintenance, Property Taxes, Sewer, Structural Maint, Trash, Water

• Owner Pays

  Nothing

• Parking

  Street Parking

• Expenses Include

  Grounds Maintenance, Insurance, Management, Sewer, Snow Removal, Trash, Water

• Location Amenities

  Corner Lot, High Traffic Loc, High Visibility

• Occupant

  5+ Years, Escalations, Multiple Leases

• Documents on File

  Leases

• Water Rights

  No

• Mineral Rights

  No

• Terms Offered

  Cash

• Sign

  No

• Possession

  Negotiable