Douglas County
Property Location: 832 New Memphis, Castle Rock
Property Description: 5,823-sf, two-tenant retail building, YOC 2016
Land Size: 0.76 acres
Sales Price: $3.9M, or $668.72 psf
Reception No.: 2016092516
Grantor: Snowmound Spirea LLC by: Alberta Castle Rock Management LLC, Donald G. Provost, mgr.
Grantee: Inco-Veterans LLC, 2360 Corporate Circle, Suite 400, Henderson Nevada 89074
Closing Date: 12/15
Comments: Listed by Marcus & Millichap, Jamie Medress, Mark Ruble, Chris Lind of Phoenix Office & Richard Bird of Denver office. Income is $226,409 with in-place cap rate of 5.8%. Expenses are $58,230 per year and net leases total $38.88 per square foot. Tenants include Café Rio, 2,901 sf, & T-Mobile, 2,922 sf, with 10-year leases.
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.
