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350 North Union Boulevard, ...

Walsprings LLC Acquires Retail Property On 350 N Union Blvd In Colorado Springs For $7,869,904
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Walsprings LLC Acquires Retail Property On 350 N Union Blvd In Colorado Springs For $7,869,904

350 North Union Boulevard, Colorado Springs, Colorado 80909, United States

$7,869,904

$520/SF

Building Size

15,120 SF

Asset Type

Retail

Closing

Jan 13, 2022

AI

The retail property located at 350 N Union Blvd in Colorado Springs, CO has been sold in a recent transaction. The property spans across approximately 15,120 square feet with a price per square foot of $520. The sale price for the property was $7,869,904, slightly below the asking price of $7,996,000.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $7,869,904
  • Address: 350 N Union Blvd, Colorado Springs, CO
  • Market: Colorado Springs, CO

Walsprings LLC has acquired the property from ACV Watkins LLC in this transaction. The deal was facilitated by Marcus & Millichap, with Timothy Nichols and Mark Ruble acting as the brokers representing the buyer and seller respectively.

Players

Mark Ruble

Marcus & Millichap

Broker

$252.4M

vol

38 deals

Broker

Colorado Springs Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.02%

Cash-on-Cash

-0.58%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93