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Marcus & Millichap Facilitates $4M Sale Of Retail Property Leased To Service Street Auto Repair
SOLD
$4,000,000
Colorado
See Similar DealsRetail4,488 SF
Sold 02/04/2025
SOLD
Marcus & Millichap Facilitates $4M Sale Of Retail Property Leased To Service Street Auto Repair
7282 Lagae Road
See Similar DealsRetail4,488 SF
Sold 02/04/2025
Summary
COLORADO
Asset Type:Retail
Price Per Square Foot:$891
Total Square Footage:4,488 SF
Transaction Type:Sale
A retail property located at 7282 Lagae Road in Castle Pines, CO, has been sold for $4,000,000. The asset spans 4,488 square feet, resulting in a price per square foot of $891. The property is net-leased to Service Street Auto Repair under a 20-year absolute triple-net lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,000,000
- Square Footage: 4,488
- Price Per Square Foot: $891
- Address: 7282 Lagae Road
- Market: Castle Pines, CO
The transaction was facilitated by brokers Drew Isaac and James Rassenfoss from Marcus & Millichap, representing the seller, an Arizona-based developer, and the buyer, a Colorado-based private investor.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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