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NVA 5886 Tutt Blvd 12,000 SF 100% Leased Retail Building Colorado Springs, CO 80923 $2,882,602 ($240.22/SF) 6% Cap Rate
Investment Highlights
- Below Market Rent | Rent is only $14 psf at this location which for this market is substantially below FMV
- Robust Industry Growth
- Strong Operator National Veterinary Associates has grown to be one the world’s largest veterinary and pet care companies in the world
- This provides for a future mark-to-market opportunity. The building is also being purchased below replacement cost at $240 psf
- Attractive Lease Structure
- E-Commerce & Recession-Resistant Property
Executive Summary
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.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
12,000 SF
Year Built
2013
Price
$2,882,602
Price Per SF
$240.22
Cap Rate
6%
NOI
$172,956
Percent Leased
100%
Building Height
1 Story
Building FAR
0.11
Lot Size
2.50 AC
Nearby Major Retailers
Property Taxes
| Parcel Number | 53183-19-023 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $603,540 |
Property Taxes
Parcel Number
53183-19-023
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$603,540
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NVA | 5886 Tutt Blvd
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