$111.07 Per Sq Foot $13,415 est/mo Sourced by Back At You

Tbd Mineral Street,Silverton, CO 81433

Silverton CO, 81433

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Description

Business opportunity in an Enhanced Enterprise and Opportunity Zone in Silverton, CO! Silverton LP Gas has been under the same ownership since 1954. This essential propane company services approximately 475 households in the town of Silverton, CO. The turnkey business comes with all of the inventory and real estate needed to operate continuously without disruption of service to the customers. The business sits on 9 lots in a mixed-use zone and it has been identified as an area to remain business/mixed use in the future land use framework as part of the Silverton Compass Master Plan 2022. The mixed use zone allows for commercial, multi-family and single family development. Water and sewer tap fees have been paid but not installed, a current value of $13,729. San Miguel Power has buried the power lines on the property. The Silverton Compass Master Plan 2022 has identified the need for redundancy in the power supply due to frequent power outages, making propane an essential utility service. 64% percent of the 475 tanks are company owned, creating additional rental income for Silverton LP Gas. Silverton/San Juan County is an Enhanced Enterprise Zone which offers tax incentives for new employees, employee training, new equipment purchases, and blighted building rehabilitation. Enterprise Zones tax credits are available from the State of Colorado Office of Economic Development and International Trade (OEDIT). Silverton/San Juan County is also an Opportunity Zone. Opportunity Zones are a federal program designated in the 2017 tax reform bill The allow incentive for investors to support distressed communities through private equity investments in businesses and real estate ventures. The incentive is deferral, reduction and potential elimination of certain federal capital gains taxes. The benefits of Opportunity Zone tax incentives are: 1. Deferral of capital gains tax until sale or Dec 31, 2026 2. Partial reduction of deferred gain - Tax basis increases by 10% if investment is held for 5 years - Tax basis increases by additional 5% if investment is held for 7 years 3. No capital gains tax on appreciation if investment is held for 10 years Historic Silverton, Colorado is an austere and iconic mountain town situated at 9318' in the heart of the San Juan Mountains. The breathtaking Million Dollar Highway delivers you back in time to a historic mining town with colorful Victorian era homes dotting the alpine landscape. Today’s economy consists of outdoor recreation and tourism, primarily brought from The Durango Silverton Narrow Gauge Railroad (DSNGR), which brings up to 1400 tourists to town daily by train. This town boasts a Regio inspired pre-school, Expedition Learning K-12 School, an in-town ski hill free to all students of Silverton at Kendall Mountain, and the elite Silverton Mountain Ski Resort for only the most experienced skier. This is a unique mountain living experience that cannot be duplicated anywhere across the lower 48.

Details

MLS#810570
Listing TypeFor Sale
StyleOther Business Opportunity
Building NameSilverton LP Gas
Sub-TypeResale
StatusActive
Days On Site117
Listing Provided ByUnited Country Blue Sky Homes and Land | Michelle Furi

Features

SQ Feet22,500
ZoningMixed Use
Acreage0.52
Water FrontYes

Market Activity 81433

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Listings Checked: 2 minutes ago
StateCO
CountySan Juan
CitySilverton
Zip Code81433
AreaSilverton
Listing VS Median (in 81433)
Price:
$2,499,000
low | high
Med:
$1,386,000
94.53781512605% of Average
SqFt:
22,500
low | high
Med:
5,000
100% of Average
$ / SqFt:
$111
low | high
Med:
$277
99.579831932773% of Average
On Site:
117
low | high
Med:
45.000000
100% of Average
Sourced by Back At You
Listing Updated: May 20, 2024 at 11:45:41 PM PDT