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433 Park Point Drive,  Golden CO, 80401 ( Sold )

  • Sold Price:
    $2,895,000
  • 10/10/2016

MLS# 6706390
|
beds, 5 baths
Source:REcolorado

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Listing Provided Courtesy Of: Privy Real Estate
Last Updated: 12/8/2016 6:15 PM
Description for 433 Park Point Drive,  Golden CO, 80401
The Genesee Plaza office building is a local landmark with visibility from I-70. It is a 25,030 sq. ft. , fully occupied office property. Current gross revenue from rents is $403,557.92. Current NOI is $257,183.54, after expenses. The building has two stories and 7 tenants. Many have been tenants for over 10 years. All but one is locked into a long term lease. The property was also recently renovated and updated. Common areas and about 50% of the office suites were completely rehabbed in 2015. This property is in excellent condition, interior and exterior. Other Highlights: This is a stable investment, with 100% current occupancy and predictable cash flow. The largest tenant has occupied since 1992. There is abundant Parking (recently re-sealed): 4.8 spaces/1,000 SF. And the property has below market avg lease rate. All leases have annual increases. The current cap rate is 8.80%, which increases annually. The property sits on 2.05 acres and is 150 yards from the I-70 off ramp.
Price
Sold Price:
$2,895,000
Sold Date:10/10/2016
Genesee Office Building
Jefferson
5
25,023 (approx)
6706390
Sold
Description
The Genesee Plaza office building is a local landmark with visibility from I-70. It is a 25,030 sq. ft. , fully occupied office property. Current gross revenue from rents is $403,557.92. Current NOI is $257,183.54, after expenses. The building has two stories and 7 tenants. Many have been tenants for over 10 years. All but one is locked into a long term lease. The property was also recently renovated and updated. Common areas and about 50% of the office suites were completely rehabbed in 2015. This property is in excellent condition, interior and exterior. Other Highlights: This is a stable investment, with 100% current occupancy and predictable cash flow. The largest tenant has occupied since 1992. There is abundant Parking (recently re-sealed): 4.8 spaces/1,000 SF. And the property has below market avg lease rate. All leases have annual increases. The current cap rate is 8.80%, which increases annually. The property sits on 2.05 acres and is 150 yards from the I-70 off ramp.
Listing Information
Property Type: Multi-Family
Multi Level 5
2.05 Acres 89,298 25,023 (approx)
$115.69 1986 Wood Siding, Frame, Other Construction
Genesee Office Building
25,023 Sq. Ft. (approx)
11 Total
Neighborhood
School Information
District: Jefferson R-1
Room Information
Eat-In Kitchen
Interior Features
Tile, Carpet
Central Air, Air Cond. Unit
Gas Heat, Forced Air
No Basement
Handicapped Access
Security System,
Handicapped Access, Updated, Vaulted
Exterior / Lot Features
120 Parking Spaces
Wood, Frame
Balcony
Rolled
Mountain
Commercial
Landscaped, Green Belt, Cul-De-Sac
Financial Considerations
41-132-01-001
$28,716
2015
Listing Price History

Golden Real Estate

Golden is located in Colorado. Golden, Colorado 80401 has a population of 18,775.

The median household income in Golden, Colorado 80401 is $58,858. The median household income for the surrounding county is $68,748 compared to the national median of $53,046. The median age of people living in Golden 80401 is 33.2 years.

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Courtesy: Privy Real Estate
Copyright © 2016 REcolorado. All rights reserved. Information is deemed reliable but is not guaranteed.

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