In March of 2007, The Teton County Housing Authority purchased the building located at 260 W. Broadway for $1,100,000.00. The building is on a ground lease that is currently $12,399.70 monthly or $148,796.00 annually. The building has three tenant spaces. Ste A is occupied by the Jackson Hole Chamber of Commerce, Ste B is occupied by Fine Dining Restaurant Group, LLC, and Ste C is occupied by TSA. Please see the attached Income and Expense Worksheet prepared by Brett McPeak of Jackson Hole Sotheby’s International Realty (formerly of Re/Max Obsidian) for financial information on the building. In June 2016 the Town Council and Board of County Commissioners directed and authorized the Jackson/Teton County Housing Authority to enter into a listing agreement with Mr. McPeak to sell the building at 260 W. Broadway. The listing agreement was signed June I 6, 2016. That agreement expired January 31, 2017. The asking price was $1,095,000.00 with a 5% commission if a buyer’s agent is involved or 4% if the listing agent brings the buyer. The listing agreement was renewed in February, 2017 with the same terms except the asking price was lowered to $995,000.00. This renewal expired August 1, 2017.
The building has not had any offers to purchase to date. The renewal has the same terms as the original listing agreement.