5886 Tutt Blvd - Retail FOR SALE


Colorado Springs, CO 80923- Ridgeview
$2,882,602 USD
513-300-0763
5886 Tutt Blvd, Colorado Springs, CO for Sale
$2,882,602 USD
Retail - FOR SALE
1/2
null | 6% Cap Rate

5886 Tutt Blvd
Colorado Springs, CO 80923
Ridgeview


HIGHLIGHTS

  • Below Market Rent | Rent is only $14 psf at this location which for this market is substantially below FMV
  • This provides for a future mark-to-market opportunity. The building is also being purchased below replacement cost at $240 psf
  • Robust Industry Growth
  • Attractive Lease Structure
  • Strong Operator National Veterinary Associates has grown to be one the world’s largest veterinary and pet care companies in the world
  • E-Commerce & Recession-Resistant Property

OVERVIEW

Bang Realty is pleased to present the exclusive listing for a NVA located at 5886 Tutt Blvd, Colorado Springs, CO 80923. The site consists of roughly 12,000 rentable square feet of building space on an estimated 2.5-acre parcel of land. This NVA was subject to a 5-year Double Net (NN) lease, which commenced 7/14/2021. It was extended for 8 more years in April, bringing expiry to 7/14/2034 (8.9 Yrs Remaining). The current annual rent is $172,956 and has scheduled increases of 2.75% annually.

FOR SALE DETAILS

PRICE

$2,882,602 USD

PRICE/SF

$240 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

NVA

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2013

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.5 AC

LAND SF

108,900 SF

ZONING

-

APN/PARCEL ID

53183-19-023

ASK ABOUT THIS PROPERTY

Brian BrockmanBang RealtyMore Info
513-300-0763

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Brian BrockmanBang RealtyMore Info
513-300-0763

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