Arapahoe County
Property Location: 2835 S. Raritan St., Englewood
Property Description: 9,600-sf office/warehouse, YOC 1977, masonry construction, five dock-high doors, one drive-in door, three tenants, 16’ clear
Land Size: 13,068 sf
Sales Price: $760,000, or $78.13 per sf
Reception No.: D6093591
Closing Date: 8/23
Grantor: Darrow Family LP, Allen Barton Darrow, gen ptnr. (50%), & Sally Cayzer Trust (50%), Sally Darrow Cayzer, tr.
Grantee: Raritan Partners LLC, George Lee, mgr.
Financing: Cash
Comments: The property was listed by Bob Kaplan, 303-328-2034, Brandon Kramer, 303-328-2020, & Sean Gelson, 303-328-2032, all of Marcus & Millichap. Tenants include Accudyne, 4,800 sf @ $7.25 psf net; Age Old, 2,400 sf @ $6.30 psf net; and Mountainside, 2,400 sf @ $7 psf. Two of the leases expire in approximately one year and one lease expires in two years. Effective gross income is $66,720; expenses are $18,961, or $1.99 psf; NOI (based on 100%) is $50,508; and in-place cap rate is 6.6%. According to the listing broker, there was a $10,000 credit to the buyer for driveway repair, reflecting a net sales price of $750,000.
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.
