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… Read More 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. Call for offers deadline is Friday, March 27, 2026 at 5:00 PM MST 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 parking plan must be reviewed and approved by Grand Teton Plaza prior to submission to the Town of Jackson. Parking requirements vary by use and will be evaluated as part of the permitting process. Additional due diligence materials are available upon request. Recorded Use Restriction The property will be conveyed subject to a recorded restrictive covenant running with the land that prohibits traditional financial services uses, including banking, lending, wealth management, and investment advisory operations. Prohibited uses include retail or commercial banking, depository institutions, mortgage or loan origination offices, registered investment advisors, broker-dealers, securities trading firms, and similar financial services operations. Expressly permitted uses include insurance agencies, accounting firms, financial technology businesses that do not operate as depository institutions, and professional office use generally. The intent of the covenant is to prohibit traditional banking and investment firm operations while preserving flexibility for retail, restaurant, service, office, and mixed use development consistent with CR-3 zoning. The covenant will run with the land and bind successors and assigns. Buyers who wish to confirm whether a proposed use complies with the covenant must submit their proposed use to the seller for review prior to the offer deadline. Additional due diligence materials, including draft covenant language, are available upon request. Read Less
Courtesy of Latham Jenkins, Live Water Properties LLC
Listing Snapshot
Days Online
0
Last Updated
Square Ft.
4,817
Lot Size
0.69 Acres
MLS Number
26-302
Additional Details
Building
Building area total: 4,817, Construction materials: "Stone", "Wood Siding", "Stick Built On Site"
Cooling
"Central Air"
Heating
"Forced Air"
Home Owner's Association
Association fee: $9,000
Lot
0.69 acres, 30,056 square feet, Size: 1
Roof
"Other"
Sewer
"Public Sewer"
Taxes
Tax annual amount: $32,811, Tax year: 2025
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