11654 - 11698 N. Huron St.
Northglenn, CO 80234 ·
43,979 SF · Office For Sale
North Point Business Park
|Building Size||43,979 SF||Building Class||B|
|Property Sub-type||Office-Business Park||Year Built||1985|
|Property Use Type||Investment||Lot Size||2.87 SF|
|Cap Rate||7.68%||Parking Ratio||3.70 / 1,000 SF|
|Listing ID: 18058302||Date Created: 03/04/2013||Last Updated: 09/13/2013|
Well-located Class B business park located directly East of the former Lucent/Avaya Campus in Westminster (now known as Park 12hundred). Attractive landscaping, well designed suites, easy access to I-25-excellent for small office users. Value add office investment; 43,979 SF project currently 68% leased. Can be purchased for under replacement cost. Asking price of $67.08-per-SF. Initial cap rate is 7.68%; all-cash IRR-5 years-12.62%; leveraged IRR-5 years-19.97%.
North Point Business Park fronts directly on Huron Street. Primary access from Huron Street is via 116th Place, which forms the northern border of the property and which enjoys a full median cut at Huron Street. The property is zoned C5 General Service, City of Northglenn,
- North Point Business Park was designed to target small office tenants
- efficient space layout for small tenants
- tenant control over HVAC
- pre-built suites means quick move-ins for tenants - no space planning needed
- expansion is possible into adjacent suites
- cost-effective utilitarian space for value-oriented tenants with rental rates significantly below other, newer buildings
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