Steamboat Springs Multi-million dollar commercial property listings are popping up in downtown Steamboat this month like glacier lilies at the edge of the snow line.
Riverfront Partners, led by Ellen and Rick Fauss of Fremont, Neb., have listed the restaurant building housing the Steamboat Yacht Club at 811 Yampa St. for $3 million. They purchased the building and two adjacent development parcels for $4.5 million in July 2008.
The restaurant land measures almost 10,000 square feet.
Listing Realtor Jim Cook, of Colorado Group Realty, said he is in talks with a prospective buyer who would operate a restaurant in the space, as well as a prospective new tenant. Cook said the Yacht Club lease is up in November.
Riverfront Partners intends to hang on to the development ground, Cook said.
Yacht Club owner Morton Hoj said that although he owns an unfinished commercial space in The Victoria, he does not expect to be in the restaurant business this winter.
Hoj has tentative plans to open a restaurant called The Diplomat in The Victoria. However, he doesn't feel the time is right to open a new restaurant.
"I'm putting that on hold," he said. "If someone wants to lease it from me, it might be available."
A couple of blocks east on Yampa Street, the recently bare ground at 655 Yampa St. is back on the market for $2.8 million. The former Bergman home there was razed last week. Owner Howard Ulep purchased the riverfront property in 2006 for $1.2 million, and the site has been approved by the city for a mixed retail/residential development.
The owners of Sweet Pea Market have moved over one spot on Yampa Street, where they purchased a house that was converted to a retail space more than 10 years ago - it originally housed One Stop Ski Shop.
Sweet Pea's Jonathon Hieb said he purchased the property from James Reichert. But that's not the end of Hieb's plans. He's scheduled to go before the Steamboat Springs Planning Commission on June 25 seeking a development permit that would allow him to operate a produce stand on a piece of undeveloped ground in the Curve Plaza commercial center close to Ace at the Curve on the city's west side.
Hieb said he is interested in testing the market in West Steamboat with the thought of someday operating a permanent establishment in one of the proposed developments seeking annexation of land farther to the west.
In the 1,000 block of Lincoln Avenue, the Pilot Office Supply building is back on the market along with a developable parking lot that fronts Lincoln Avenue for $2.485 million.
Listing broker Cindy Ptach, of Colorado Group Realty, said the former site of the U.S. post office (up until the 1980s) was listed a couple of years ago at the height of the market for $3.8 million.
"Now, the market for commercial property is so slow we decided on our pricing based more on what hasn't sold than on what has sold," Ptach said. "We put it on the market to see what happens."
Ptach's husband, Tom, runs Pilot Office Supply. She said that although he is phasing out the residential furniture in RoCo Enteriors, the space will be repurposed to display more office furniture, a growing segment of the business.
David Chase, of David Chase Rugs and Furniture, had put his prominent building at 335 Lincoln Ave. on the market for $4.9 million in late winter but now plans to take it off the market. Chase said this week that he is in talks with a prospective tenant who would take a portion of the space now occupied by his furniture store.
Longtime locals will recall that the building originally housed City Market grocery store.