Skip to main content

Office

Peak Office Building

32135 Castle Ct, Evergreen, CO 80439

Listing Price: $2,700,000

Cap Rate
5.42%
Gross SF
20,890
Rentable SF
17,733
Price/Gross SF
$129.25
Lot Size
1.54 acres
Year Built
2000

Investment Overview

Smith Office Team of Marcus & Millichap is pleased to present Peak Office Building, a 20,890 gross square feet, Class, B, office building located at 32135 Castle Court in Evergreen, Colorado. The beautiful building was constructed by the current owner, Catamount Constructors, in 2000 on a 1.54-acre parcel. The exterior's partial-stone façade and grand entrance complement the building's exclusive mountain setting, while the interior's high-end finishes create a professional office environment. The building is comprised of traditional office space and executive suites. Nine tenants occupy 79% of the building including the anchor, New West Physicians. Their lease doesn't expire till April of 2028, contributing to the building's solid weighted average lease term (WALT) of 3.30 years. There are currently five vacant suites and two month-to-month tenants on the second floor. An investor could immediately add value through lease-up. Or, an owner-user could occupy the building following closing, treat existing rents as additional income, and slowly expand. The building is well-located in Evergreen. It fronts Highway 74 which runs from I-70 all the way to Morrison. I-70 provides easy access to Downtown Denver. Bergen Park, featuring several national and local retailers, is then a mile away. Peak Office Building is a great opportunity for an investor searching for an anchored, beautiful, commercial property in a unique Denver submarket. The building would also be ideal for an owner-user searching for turnkey office space with additional income from neighboring tenants in the Colorado Foothills.

Investment Highlights

  • 20,890 Gross SF, Class B, Office Building
  • $2,700,000 ($129/SF)
  • Significantly Below Replacement Cost
  • Immediately Available for an Investor or Owner-User
  • 79% Occupied
  • 7.12% Pro Forma Cap Rate
  • 3.30 WALT
  • 2000 Construction with Elevator

Exclusively Listed By

Financing By

Listing Price: $2,700,000

Cap Rate
5.42%
Gross SF
20,890
Rentable SF
17,733
Price/Gross SF
$129.25
Lot Size
1.54 acres
Year Built
2000

Investment Highlights

  • 20,890 Gross SF, Class B, Office Building
  • $2,700,000 ($129/SF)
  • Significantly Below Replacement Cost
  • Immediately Available for an Investor or Owner-User
  • 79% Occupied
  • 7.12% Pro Forma Cap Rate
  • 3.30 WALT
  • 2000 Construction with Elevator

Investment Overview

Smith Office Team of Marcus & Millichap is pleased to present Peak Office Building, a 20,890 gross square feet, Class, B, office building located at 32135 Castle Court in Evergreen, Colorado. The beautiful building was constructed by the current owner, Catamount Constructors, in 2000 on a 1.54-acre parcel. The exterior's partial-stone façade and grand entrance complement the building's exclusive mountain setting, while the interior's high-end finishes create a professional office environment. The building is comprised of traditional office space and executive suites. Nine tenants occupy 79% of the building including the anchor, New West Physicians. Their lease doesn't expire till April of 2028, contributing to the building's solid weighted average lease term (WALT) of 3.30 years. There are currently five vacant suites and two month-to-month tenants on the second floor. An investor could immediately add value through lease-up. Or, an owner-user could occupy the building following closing, treat existing rents as additional income, and slowly expand. The building is well-located in Evergreen. It fronts Highway 74 which runs from I-70 all the way to Morrison. I-70 provides easy access to Downtown Denver. Bergen Park, featuring several national and local retailers, is then a mile away. Peak Office Building is a great opportunity for an investor searching for an anchored, beautiful, commercial property in a unique Denver submarket. The building would also be ideal for an owner-user searching for turnkey office space with additional income from neighboring tenants in the Colorado Foothills.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower