Office/Retail in Old Town Arvada

$1,250,000

5613 Olde Wadsworth Boulevard, Arvada, CO 80002

For Sale

Office Co-Working

Active

Last Updated: 09/08/2022

Details:

Cap Rate: 2.8%

Pro Forma Cap Rate : 4%

NOI: $35,291

Building Size: 3,921 sqft

Lot Area: 6,466 sqft

Lease Type: Modified Gross

Occupancy: 100%

Class: A

Year Built: 1889

Tenancy: Single

Price Per Sqft: $404

Average Room Size: 150 sqft

Floors: 2

Parking Spots: 5

Year Last Renovated: 2009

Gross Leaseable Area: 3,021

Construction Status: Wood Frame/Masonry

Parking Ratio: 1.66

Roof: Comp

HVAC: 2 X Forced Air

Floor: 2

Restrooms: 2

CeilingHeight: 11

Investment Strategy: Opportunistic

Lease Expire Year: 06/30/2020

Offered by Broker

Steve Yeager

Owner

GroupG Real Estate, LLC

#ER100004941

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Highlights:

Current Co-Work for the entire building
Ideal for single use professional

Description:

This is an excellent opportunity in the vibrant "Old Town" area of Arvada. Originally built in 1889, the property was completely renovated in 2009 and again in 2013. The property is ideally suited for an owner/occupied professional use, such as offices for attorney, architect, medical, etc. The building is fully leased, however, the existing 501-C3 tenant can be terminated on 90 notice in the event of a change in building owner. The property is within one block of the new RTD Light Rail station. This is truly a one-of-a-kind investment opportunity for an investor that is looking "pride of ownership". Property has a 900 SF "dry" basement storage area.