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245 Bannock Street

Updated Dec 4, 2024

NorthPeak Commercial Advisors Facilitates $3.7M Sale Of Multifamily Property In Denver
SOLDMultiFamily

NorthPeak Commercial Advisors Facilitates $3.7M Sale Of Multifamily Property In Denver

245 Bannock Street

$3,700,000

$335/SF

Building Size

11,019 SF

Asset Type

MultiFamily

Closing

Nov 6, 2023

About this deal

AI

A multifamily property located at 245 Bannock St. in Denver, CO has been sold for $3.7 million. The property spans across 11,019 square feet, resulting in a price per square foot of $336. This transaction was facilitated by NorthPeak Commercial Advisors, with brokers Joe Hornstein, Kevin Calame, Matt Lewallen, and Scott Fetter representing the parties involved.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,700,000
  • Square Feet: 11,019
  • Price Per Square Foot: $336
  • Address: 245 Bannock Street, Denver, CO
  • Market: Denver, CO

NorthPeak Commercial Advisors played a key role in the sale of the multifamily property at 245 Bannock St. Their brokers, Joe Hornstein, Kevin Calame, Matt Lewallen, and Scott Fetter, successfully facilitated the transaction, achieving a sale price of $3.7 million at a rate of $244,333 per unit. Their expertise and representation were instrumental in the closing of this deal.

Players

Scott Fetter

NorthPeak Commercial Advisors

Broker

$55.1M

vol

8 deals

Broker

Denver MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $335 per square foot on a published $3.7M for 11,019 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.29%

Cash-on-Cash

-1.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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