842 W Broadway Avenue

Description

Located along West Broadway, 842 W. Broadway Avenue offers a rare opportunity to acquire a CR-3 zoned property within the Town of Jackson. The approximately 0.69 acre (30,000 sqft site is improved with a 4,817 square foot single-story commercial building, providing immediate interim office or commercial use while positioning the property for future redevelopment consistent with the Town's long-range planning vision. West Broadway is one of Jackson's primary commercial corridors offering strong visibility and connectivity to the downtown core. CR-3 zoning allows for mixed-use development and up to approximately 12,000 sqft of building area, subject to Grand Teton Plaza Owner's Association and Town of Jackson approvals. Prime West Broadway Location 842 W. Broadway Avenue is positioned along West Broadway, the Town of Jackson's primary east west arterial and one of its most heavily traveled commercial corridors. The property benefits from approximately 18,511 vehicles per day, providing consistent exposure to both local and visitor traffic entering and exiting the downtown core. West Broadway functions as a key connector between downtown Jackson, established residential neighborhoods, and regional destinations. Strong traffic counts, corridor visibility, and continued mixed use evolution reinforce the long term durability of this location. CR-3 Zoning Advantage The site consists of approximately 0.69 acres (30,000 square feet) and is zoned CR-3, one of the Town of Jackson's more flexible mixed use designations. Under current standards, the site may allow for approximately 12,000 square feet of total building area across up to three stories, subject to Grand Teton Plaza Owner's Association and Town of Jackson approvals. This zoning flexibility, combined with the site's scale and corridor frontage, underpins its long-term redevelopment potential. Redevelopment Positioning Independent market analysis supports redevelopment of the site as its highest and best use, with interim use of the existing structure providing flexibility during planning and entitlement. The existing drive-through canopy is anticipated to be removed in connection with continued use or future redevelopment, along with associated parking reconfiguration. For reuse scenarios involving canopy removal and site reconfiguration, preliminary cost evaluations are estimated in the range of approximately $300,000 to $500,000, consistent with projects of similar scale. Full demolition and new construction scenarios may involve materially different cost structures. Buyers are encouraged to conduct their own due diligence. Recent Broadway corridor land transactions indicate that redevelopment parcels with existing improvements frequently trade based on underlying land fundamentals rather than receiving demolition discounts, reflecting Jackson's supply constrained market dynamics. Land Driven Value Proposition The approximately 30,000 square foot site represents one of the larger CR-3 redevelopment opportunities currently available along West Broadway. Recent corridor land transactions support pricing in excess of $200 per square foot for well located commercial parcels. Value is rooted in control of entitled land within a highly constrained market rather than reliance on short term income performance. Replacement opportunities for similarly zoned land of this scale are increasingly limited. Interim Use Flexibility The existing 4,817 square foot building provides flexibility for interim office or commercial use while future redevelopment plans are evaluated. This allows a buyer to hold, reposition, or phase development over time without immediate redevelopment pressure. Access, Parking and Use Parameters The property benefits from a recorded Shared Access, Parking and Maintenance Agreement providing cross access from West Broadway and shared parking within Grand Teton Plaza. Parking will be a key design consideration with any change of use or redevelopment. Any proposed parki