Danna Schelhaas - Coldwell Banker Distinctive Properties
701 E 2nd Avenue
Durango, CO 81301

Description

Mutu's Italian Kitchen a staple in the Durango restaurant scene has been in operation since 2005. Successfully ran and operated, Mutu's was the recipient of the 2018 Best of Durango for Best Italian Food. Located on the corner of 2nd Avenue and 7th Street, Mutu's is truly located in the heart of Downtown - blocks from the Durango and Silverton Narrow Gauge Railroad, the Durango Arts Center, and more. The restaurant area has main level as well as balcony seating. The lounge features a granite topped bar, and several pub tables with a wall of windows. The restaurant and lounge can hold 263 patrons at maximum capacity. Expanded seating during the warmer months is available on the patio. In addition to the restaurant space, the building also contains a 384 SF, 1 bedroom apartment with a balcony overlooking 2nd Avenue that is currently rented month-to-month for $1,275, supplementing the restaurant lease. The property has six parking spaces on site. The offering is for the business only - the real estate is not for sale. The sale of the business is subject to the existing lease; terminates 1/1/2021 with an option to renew for one 5-year term. Tenant has invested over $25,000 in capital improvements to the building/property in the last few years. This is in turn-key condition and ready for a new owner to take this fine establishment to its next level with potential to increase revenue. Don't miss this rare opportunity to become part of Durangos culinary scene.

Details

MLS#751361
Sub-TypeResale
StatusActive
Year1955
Days On Site67

Features

SQ Feet4,930
Story(s)2
Units2
ZoningCommercial

Market Activity 81301

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Area Information

StateCO
CityDurango
Zip Code81301
AreaDurango In Town
Listing VS Median (in 81301)
Price:
$375,000
low | high
Med:
$365,000
52.666666666667% of Average
SqFt:
4,930
low | high
Med:
1,310
100% of Average
$ / SqFt:
$76
low | high
Med:
$279
100% of Average
On Site:
67
low | high
Med:
74
90.540540540541% of Average
Listing Updated: 12/14/2018
MLS Number: 751361
Listing Provided By:
Abbi Munn  of  The Wells Group of Durango Inc.



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