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Industrial property trades for $4 million

Adams County

Property Location: 8085-8095 Oneida St., Commerce City

Property Description: 36,000-sf warehouse (two 18,000-sf buildings), YOC 2006 (updated and completed in 2015), metal construction, 24 doors at 14’x12’ & 24 rear drive-in doors at 12’x12’. The fenced storage yard is approximately 21,600 sf

Land Size: 3.87 acres

Sales Price: $4M, or $111.11 per sf

Reception No.: 2016000091144

Closing Date: 10/24

Grantor: Oneida Street Partners LLC, Randolph Weil, mgr.

Grantee: Dexter Street Six LLC, Ronald J. Boshart, mgr.

Financing: payable to Blue Federal Credit Union

Comments: This property was listed for sale by Nick Schill of Pinnacle Real Estate Advisors, 303-358-9337. The property sold on an in-place cap rate of 7.5%, with 15 tenants and 100% occupancy. The lease rate is $9.76 per square foot, modified gross, and expenses are $1.44 psf. See APN: 01721-29-4-05-020. Seller acquired this property in core and shell condition in February 2010 for $1.05M.

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.