Arapahoe County
Property Location: 7936 Arapahoe Ct., Centennial
Property Description: 29,771-sf, three-story office building, YOC 1981, brick
Land Size: 1.57 acres
Sales Price: $2.09M, or $116.23 psf
Reception No.: D7005250
Grantor:. Flying B Properties LLC, Joel S. Bush, mgr.
Grantee: 7936 Arapahoe Court A & B LLC, Eli Diamant & Daniel H. Meitus, mbrs., 2165 S. Platte River Drive, Denver 80223
Closing Date: 1/13
Financing: $1.49M payable to Alpine Bank, Rifle 81650, due 1-13-27
Comments: See APN: 2075-28-2-18-008. This property was listed by Scott Fischer of Unique Properties LLC, 303-882-8622, for $2.25M. Lease rates are quoted at $15 to $16 per square foot. The net operating income at time of sale was $169,005 (includes a 15.43% vacancy rate), indicating an actual 8.1% cap rate. The lobby, hallways and restrooms have been updated and a new roof was installed during summer 2016. The expenses for the building are $6.25 per square foot.
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.
