Geneva Plaza Ketchum, ID
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OVERVIEW Geneva Plaza, LLC currently owns the “Old Post office” in Ketchum Idaho. The 7,610 square foot building is located two blocks west of the main intersection of Ketchum and front the main route to the River Run side of Bald Mountain and the new US Post Office. This section of the commercial zone in transition is from older residential use to mixed commercial use and condominium development. The buildings flat roof and baldy views make it desirable for the development and sale of a second floor flat of approximately 3,250 square feet. The main floor is well suited for repositioning as a series of three or four smaller shops. Currently the space is leased through 2015 with an option to extend through 2016. It is anticipated that the current tenant will remain in the space through the option period. The physical structure is oversized of 2x6 construction on a concrete slab with support columns on the exterior. The flat roof is in fair condition. Overall the building is in good condition, with a corner location and surrounded by art galleries and restaurants The availability for a corner lot and building of this size and location would be difficult to replicate. Geneva believes that the property is being acquired below market based on replacement cost ($1,915,000) and the development potential substantiates that position. MAP / PHOTOS: Visit the Geneva Plaza property, located at 311 1st Street, Ketchum, ID 83340.
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