Capstone Colorado Land Team has closed the sale of 500 N Colorado, a 217,800 sq ft land property in Buena Vista for the sale price of $1,850,000. Travis Hodge represented the Seller, Igloo Bv LLC, in this transaction.
Igloo Bv, LLC originally purchased the property in 2018. The Buyers plans to take advantage of the Opportunity Zone designation and will continue to work through entitlements for a new multifamily development. Located in a fast-appreciating real estate market, 500 N Colorado presented a unique opportunity for a developer to provide housing in a severely supply constrained market.
500 Colorado is conveniently located off N Colorado Avenue and E Arkansas Street in Buena Vista. The property is right by Highway 24, allowing excellent visibility from passerby’s and easy access to everything Buena Vista has to offer. 500 Colorado is less than a mile from seven different parks, a disc golf course, Main Street’s numerous shops, and over 21 restaurants. The Arkansas River and Cottonwood Creek run right by the property, making it a popular area for residents and visitors seeking water sports and adventure.
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About Capstone:
The goal of Capstone is to help generate, maintain, and increase the value and profitability of our clients’ multi-housing investment properties. To do so, we provide comprehensive multi-housing advisory services in asset acquisition and development, strategic ownership decisions, market insight and positioning, property value analysis, and disposition brokerage to support our clients in every stage of ownership. This comprehensive multi-housing-focused service offering paired with our relentless drive to win on behalf of our clients is what sets us apart from pedestrian brokerage firms. Capstone simply put: Expertise. Experience. Extra-Mile.
