$2,499,000
0.52± Acres
Active
San Juan County, CO

TBD Mineral, Silverton, Colorado

MLS ID: 810570
Status: Active
Price: $2,499,000
Acres: 0.52±
Type: Business, Commercial
Address: TBD Mineral
City, State: Silverton, CO
County: San Juan County
ZIP Code: 81433
Parcel Number: 48291730180001
Listed by: Michelle Furi of United Country Blue Sky Homes And Land

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.

Additional Information

Interior

Building Area Total: 22,500
Furnished: Unfurnished
Heating (Yes/no): Yes
Heating: Propane

Exterior

Inclusions: Inventory, Fixtures, Trade Name, Customer Data, Propane-Tank Owned, Propane-Tank Leased
Lot Dimensions Source: Assessor
Lot Size Dimensions: 225x100
Parking Features: Off Street
Property Attached: Yes
Road Frontage Type: City Street
Water Source: Public
Waterfront: Yes
Waterfront Features: Creek

Financial/HOA/Schools

Days On Market: 13
Tax Annual Amount: 2339.22
Zoning Description: Mixed Use
Robert Gash, ALC

Robert Gash, ALC

Cedaredge, Colorado

(970) 986-2955

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Listed By: Michelle Furi of United Country Blue Sky Homes And Land