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3225 Austin Bluffs Parkway - Parkway Professional Building, Colorado Springs, CO

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3225 Austin Bluffs Parkway - Parkway Professional Building

Colorado Springs, CO 80918 - North Submarket

Property Type:Office Sub Type:- Status:Existing Year Built:1981
Stories:2 Typical Floor:5,942 SF Building Size:10,705 SF
For Sale Price:$1,350,000 Price/SF:$126.11
Cap Rate:8.93 %
Parking:Free Surface spaces are available; Ratio of 5.98/1,000 SF Amenities:Banking, Bus Line, Convenience Store, Signage

Sale Notes:
100% occupied, seasoned leases, 8.93% acquisition cap rate on real income, 9.64% cash-on-cash, 16.28% After-Tax IRR on DCF forecast of actual revenues. Two-story, garden level, multi-tenant suburban office building on oversized lot with 6 per 1,000 parking. Brick and glass exterior over 2x6 frame construction. Excellent condition with no deferred maintenance. New roof, parking lot, mechanical systems, interiors and more.
Prime frontage in the heart of the desirable northeast quadrant. Excellent interstate access in 5 minutes, 10-15 minute drive-time to all parts of the city.

Price Properties, Inc.
Steve Price
(719) 338-8303

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