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Private Investor Acquires Retail Property In Colorado Springs For $10.6M

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SOLD
$10,600,000

Colorado

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Retail19,187 SF
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Property Image
SOLD

Private Investor Acquires Retail Property In Colorado Springs For $10.6M

1910 Lelaray St, Colorado Springs, CO...

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Retail19,187 SF
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Summary

COLORADO
Asset Type:Retail
Price Per Square Foot:$552
Total Square Footage:19,187 SF
Transaction Type:Sale

A medical retail property located at 1910 Lelaray St in Colorado Springs, Colorado was sold for $10,600,000.00. The building, constructed in 2009 and situated on 2.1 acres, encompasses a total area of 19,187 square feet. It is fully occupied by two tenants: Liberty Dialysis, a subsidiary of Fresenius, and Pikes Peak Nephrology.

Summary of transaction details:

Stephen Sullivan, Matthew Mousavi, and Patrick Luther from SRS’ National Net Lease Group were responsible for representing the seller in this transaction involving a Colorado-based private investor and a West Coast-based investor.

Players

Matthew Mousavi
74 deals$1.1B volume
BROKER

Stephen Sullivan
SRS Real Estate Partners
2 deals$67.1M volume
BROKER

Details

SOLD
IMAGE: 1910 Lelaray St, Colorado Springs, CO... MARKET: Colorado Springs ASSET TYPE: Retail SELLER'S REP: Matthew Mousavi-SRS Real Estate Partners, Stephen Sullivan-SRS Real Estate Partners BUYER: Private Investor PRICE: $10,600,000.00 SF: 19187

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$565,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$37,659.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,249.41
Annual Debt Service$602,992.89