Littleton office building trades for $4.1 million with a 7.15% cap rate

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Arapahoe County

Property Location: 1420 W. Canal Court, Littleton

Property Description: 26,927-sf, two-story with garden level office building, YOC 2001, masonry construction, 108 parking spaces

Land Size: 1.99 acres

Sales Price: $4.08M, or $151.34 psf

Reception No.: D7037409

Grantor: Farrell-Roeh Southpark LLC, John D. Strohm, mgr., 303-794-6655

Grantee: Shane & Elizabeth Roth LLC, 303-471-5788

Closing Date: 3/31

Financing: $2M payable to FirstBank @ 4.1%m due 4-1-22

Comments: Property was listed for sale by Wade Fletcher of NGKF Capital Markets. The building contains 11 tenants, including four medical tenants. Expenses are $10.11 per square foot and the building sold on an in-place cap rate of 7.15% based on 95% occupancy.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.

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