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3254-3258 Larimer Street
Denver, 80205
FOR
SALE
$6,795,000
For Sale
13,907
Sq.Ft.0.21
AcresMLS# 6456568
Listed on site 208 days since May 15th, 2023
Property Details
This beautiful 4-unit commercial space is nestled in the heart of RiNO, Denvers fastest growing district. All 4 Oxpecker tenants, The Greenwich, RiNo Dental, M Moser Architecture and Chrysalis Continuing Care have NNN leases signed through 2026 and beyond. The current NOI is ~$417k with 3% rent escalations each year. The 3-story building at 3258 Larimer St was built in 2018 and the existing single-story building at 3254 has been completely remodeled. With looming uncertainty in the debt markets, the Oxpecker is an attractive investment with an assumable non-recourse CMBS loan at a 5.34% interest rate that has close to 5 years remaining on the term and a principal balance of just under $4.1 million. 3254-3258 Larimer is a great opportunity to own a 100% NNN leased investment while growth and new development continues in RiNo for years to come.INVESTMENT SUMMARYPrice: $6, 795, 000Total Units: 4Price / SF: $489Avg Rent / SF: $29.95 NNNCurrent NOI: $416, 477Current Cap Rate: 6.13%
Property Highlights
Price
$6,795,000
Property Type
Commercial Sale
Property Sub Type
Retail
Year Built
2018
Acres
0.21
Location
County
Denver
Zoning
I-MX-3, UO-2, DO-7
Property Details
Price
$6,795,000
Property Sub Type
Retail
Property Type
Commercial Sale
Building
Total Area
13,907
Interior Features
Area and Spaces
Number of Units
4
Building Details
Construction
Year Built
2018
Terms
Commercial
Cap Rate
6.13
Terms
Exclusions
Any and all personal property
Special Conditions
None
Special Terms
Cash, Conventional
Taxes
Tax
Tax (Annual)
$123,316
Heating, Cooling & Utilities
Utilities
Sewer
Public Sewer
Lot
Acres
0.21
Lot Size
9,357
Lot Size Area Sq Ft
9,357
Listed by Kaufman Hagan, [email protected], 720-822-0029.
Listing Data last updated 9th December, 2023 12:00 MST
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Property History
208 days ago
Property Listed
95 days ago
Date of last price change
18 days ago
Property info last updated
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Listing Data last updated: 9th December, 2023 12:00 MST
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Listed by Kaufman Hagan
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