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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%
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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%","Roof":null,"RoomsTotal":null,"SchoolDistrict":null,"SecurityFeatures":null,"seller_office_id":null,"SeniorCommunityYN":null,"Sewer":"Public Sewer","SkiFeatures":null,"SpaFeatures":null,"SpaYN":null,"SpecialListingConditions":"None","StandardStatus":null,"StateRegion":null,"StoriesTotal":null,"StructureType":null,"TaxAnnualAmount":"123316.00","Utilities":null,"View":null,"ViewYN":null,"VirtualTourURLUnbranded":null,"WalkScore":null,"WaterBodyName":null,"WaterSource":null,"WaterfrontFeatures":null,"WaterfrontYN":null,"WindowFeatures":null,"YearBuilt":"2018","Zoning":"I-MX-3, UO-2, DO-7","ZoningDescription":null,"property_uid":"REC2032588511","listing_status":"active","mls_status":"Active","mls_id":"denver","listing_num":"6456568","acreage":null,"acres":"0.21","address":null,"address_direction":null,"address_flg":"1","address_num":"3254-3258","agent_id":"155062989","area":null,"baths_total":null,"bedrooms_total":null,"car_spaces":"0","city":"Denver","coseller_id":null,"coagent_id":null,"days_on_market":null,"finished_sqft_total":null,"geocode_address":"3254-3258 Larimer Street","geocode_status":null,"lat":"39.76472513","lon":"-104.97703563","office_id":"M4465","office_name":"Kaufman Hagan","orig_price":"6950000","photo_count":"40","previous_price":"6950000","price":"6795000","prop_img":"\/listing\/photos\/denver\/6456568-0.jpeg","property_type":"Commercial Sale","sqft_total":"13907","state":"CO","street_type":"Street","street_name":"Larimer","sub_area":null,"unit":null,"zip_code":"80205","listing_dt":"2023-05-15","undercontract_dt":null,"openhouse_dt":null,"price_change_dt":"2023-09-05","seller_id":null,"sold_dt":null,"sold_price":null,"update_dt":"2023-11-20 19:46:54","create_dt":"2023-05-15 00:00:00","marketing_headline_txt":null,"use_marketing_description_txt":null,"marketing_description_txt":null,"showcase_layout":null,"mortgage_calculator":null,"property_history":null,"marketing_account_id":null}