San Diego-based 1031 Exchange Investor Buys Peterson Square In Colorado Springs For $5.5M
SOLD
$5,500,000
National
See Similar Deals14,182 SF
SOLD
San Diego-based 1031 Exchange Investor Buys Peterson Square In Colorado Springs For $5.5M
6809 Space Village Ave, Colorado Spri...
See Similar Deals14,182 SF
Summary
Price Per Square Foot:$387
Total Square Footage:14,182 SF
Transaction Type:Sale
The property involved in the transaction is located at 6809 Space Village Ave in Colorado Springs. The asset known as Peterson Square consists of 14,182 square feet of fully occupied retail space. The sale price for this property was $5,500,000.00.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,500,000.00
- Seller's Representative: Parks Brown (Stream Realty Partners)
- Buyer: Undisclosed 1031 Exchange Investor
Parks Brown, along with Matthew Henrichs and Brad Lyons from CBRE's National Retail Partners, represented the sellers in the deal. The undisclosed buyer in this transaction was an investor participating in a 1031 exchange, which refers to a method in real estate investing that allows capital gains taxes to be deferred.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$293,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,540.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,072.81
Annual Debt Service$312,873.67
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