FirstBank acquires motel for $1.75 million near Lakewood bank

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Jefferson County

Property Location: 12111 W. Colfax Ave., Lakewood

Property Description: 7,994-sf motel (four buildings), YOC 1942-1971

Land Size: 44,431 sf

Sales Price: $1.75M, or $39.39 psf (land value)

Reception No.: 2017111546

Closing Date: 10/27

Grantor: Ki Hou Kim & Young Sook Kim

Grantee: FirstBank

Financing: Cash

Comments: Grantee leased the property back to the grantor until June 30 in the daily operation of the existing motel. This site subsequently will be used as an expansion of the parking lot for FirstBank. See APN: 39-324-00-036.

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 [email protected]

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