Active
3254-3258 Larimer Street
Denver CO, 80205
$6,795,000
$488.60 per sqft
Active
13,907 sqft
Commercial
Built in 2018
Courtesy of Kaufman Hagan, Colby Constantine, Listing Contact: [email protected],720-822-0029
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%
6456568
MLSⓇ ID
May 15, 2023
Listed
November 20, 2023
Updated
Map
3254-3258 Larimer Street
Denver CO, 80205
Interior Features
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.21 acres
Sewer
Public Sewer
Other Property Details
Taxes
$123,316
Tax Frequency
Annually
Garage
No
Parking
No
View
No
County
Denver
Pool
No
Buyer Agency Compensation
1.75%
Listing History
Date | Event | Price |
|---|---|---|
11/20/2023 | Active | — |
9/26/2023 | Pending | — |
9/6/2023 | Price Change | $6,795,000 -3% |
5/15/2023 | Active | — |
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Data last updated 9:10 PM UTC, 11/20/2023
