Listed by NAI Highland, LLC
$4,953,100
885 Elkton Drive
Details
Property Type Industrial
Sub Type Warehouse
Square Footage 16,367
Cap Rate 5.50%
Tenancy Single
Lease Type NNN
Lease Term 5
Acreage 1.100
Zoning BP (Business Park)
Parking Spaces 35 spaces
Parking Per SqFt 2.14
Ceiling Height 12
Dock High Doors 2
Industrial | 5.50% CAP | 16,367 SqFt
Marketing description
100% Leased office / flex property in the coveted high-tech / aerospace Garden of the Gods corridor in NW Colorado Springs. Newly modernized in 2020 with premium finishes, bright and open offices, work areas, and clean warehouse space. Leased to a medical-related tenant through February 2030 with annual increases plus two five-year renewal options. Ideal 1031 or investment property in a great location just off I-25 and Garden of the Gods Road. The current tenant has invested their own capital into significant electrical upgrades, exemplifying a strong commitment to the property.
Investment highlights
- Lease Type: Triple Net (NNN)
- Term: 5 years, (JAN 2025 - FEB 2030)
- Current Rent: 16,367 SF x $16.50/SF = $270,055.50/yr
- Rent Increases: 3.0% annual escalations
- Listing Price: $4,953,100
- Cap Rate: 5.5%
- Upgraded Electrical: 600 amp, 480 / 277 volt, 3 Phase, 4 wire (2) 225 amp, 120 / 208 volt, 3 Phase, 4 wire
- Nice Offices on Glass
- Two Conference Rooms
- Exceptional Kitchen / Break Area
- Skylights and Open Areas
- Limited Land in Area for Development
- Highly Desirable Location
Listing Contacts
Listed by NAI Highland, LLC
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