3254-3258 Larimer Street

Denver, CO 80205 — Denver county

Price
$6,795,000
Sqft
13907.00 SqFt
Baths
0
Beds
0
Updated
11-20-2023 07:37pm
MLS#
6456568
Location
Denver, CO 80205
Price
$6,795,000
Type
Retail
Status
Active
Year Built
2018
Sqft
13907.00
Acres
0.21

Description

This beautiful 4-unit commercial space is nestled in the heart of RiNO, Denver’s fastest growing district. All 4 Oxpecker tenants, The Greenwich, RiNo Dental, M Moser Architecture and Chrysalis Continuing Care have NNN leases signed through 2026 and beyond. The current NOI is ~$417k with 3% rent escalations each year.

The 3-story building at 3258 Larimer St was built in 2018 and the existing single-story building at 3254 has been completely remodeled. With looming uncertainty in the debt markets, the Oxpecker is an attractive investment with an assumable non-recourse CMBS loan at a 5.34% interest rate that has close to 5 years remaining on the term and a principal balance of just under $4.1 million.

3254-3258 Larimer is a great opportunity to own a 100% NNN leased investment while growth and new development continues in RiNo for years to come.

INVESTMENT SUMMARY
Price: $6,795,000
Total Units: 4
Price/SF: $489
Avg Rent/SF: $29.95 NNN
Current NOI: $416,477
Current Cap Rate: 6.13%

Load & Tax Information

Previous Year Tax
$ 123,316
Tax Year
2022

Location

Walk Score®

Contact me about this property

Doug James

Doug James

RE/MAX Professionals
6020 Greenwood Plaza Boulevard
Greenwood Village, CO 80111, USA

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Disclaimers

With courtesy of Kaufman Hagan Posted by REcolorado (Denver)


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