Adams County
1. Property Location: 581 W. 84th Ave., Thornton
Property Description: 3,044-sf retail building, YOC 2018
Land Size: 19,602 sf
Sales Price: $2.48M, or $813.07 psf
Reception No.: 4828 2019
Closing Date: 1/18/2019
Grantor: Evergreen-88th& Fox LLC by: Evergreen Devco
Grantee: VEB Properties (Virginia E. Bright, mgr.), Le Grand, CA 95333
Financing: $510,000 payable to First Savings Bank, Henderson, NV
Comments: Listed by Zach Wright, Tom Ethington & Brandon Gayeski of Pinnacle Real Estate Advisors. There is a 12% increase in the lease rate beginning with year 6, with two five-year options at the end of the 10thyear.
2. Property Location: 720 E. 88thAve., Thornton
Property Description: 2,610-sf Jiffy Lube, YOC 2018, masonry
Land Size: 34,151 sf
Sales Price: $2.33M, or $892.34 psf
Reception No.: 5359 2019
Closing Date: 1/22/2019
Grantor: TFC Thornton Oil LLC
Grantee: Ridgeview LLC, Robert & Gail McMullin, mbrs., Park City, UT 84060
Financing: $465,000 payable to American United Federal Credit, Jordan, UT
Comments: Jiffy Lube has a 20-year triple-net lease with 2% annual increases in the rent. This property sold on a going-in cap rate of 5.8%. Scott Steputis of Crosbie Real Estate Group along with Ben Brown, 801-456-8802, and Chad Moore, 801-456-8801, of Mountain West Properties (Utah) listed the property.
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.
