3245 E Highway 50 - Medical FOR SALE


Canon City, CO 81212
$2,599,000 USD
773-727-4285
3245 E Highway 50, Canon City, CO for Sale
$2,599,000 USD
Medical - FOR SALE
1/4
null | 8.07% Cap Rate

3245 E Highway 50
Canon City, CO 81212


HIGHLIGHTS

  • Brand-new roof installed in October 2023 plus over $80k in tenant improvements
  • Centura/CommonSpirit recently signed a 5-year lease extension
  • 1,931 SF of vacant space provides lease-up upside
  • All three tenants have been at the property for 10+ years
  • Two leases include 2% and 3% annual rent increases
  • Located directly off Highway 50 with nearly 22,000 vehicles per day

OVERVIEW

Northmarq is pleased to offer for sale to qualified investors the opportunity to acquire the fee simple interest in the land and building of a multi-tenant property located in Cañon City, Colorado. The property consists of 1.57 acres improved with a one-story, 13,721 square foot building that was built in 2003. Located directly off US Highway 50, the property benefits from visibility to nearly 22,000 vehicles per day and is surrounded by a mix of national and local tenants. The tenant roster includes Centura Health, China Garden Restaurant, and American Medical Response. In addition to the in-place tenancy, the property includes 1,931 square feet of vacant space, offering lease-up potential. All three current tenants have occupied the property for more than 10 years and have indicated no plans to relocate. The weighted average lease term remaining is 3.9 years, and two of the leases contain 2% and 3% annual increases. Recent updates include a brand-new roof installed in October 2023, over $80,000 in tenant improvements, and a recent 5-year lease extension with Centura/CommonSpirit.

FOR SALE DETAILS

PRICE

$2,599,000 USD

PRICE/SF

$189 USD /SF

CAP RATE

8.07%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fremont Plaza

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Restaurant, Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

87

LAND DETAILS

LAND ACRES

1.57 AC

LAND SF

68,389 SF

ZONING

-

APN/PARCEL ID

000098104096

ASK ABOUT THIS PROPERTY

Bryn FellerNorthmarqMore Info
773-727-4285

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Bryn FellerNorthmarqMore Info
773-727-4285

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.