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Office

Quail Lake Offices

1300 Quail Lake Loop, Colorado Springs, CO 80906

Listing Price: $2,950,000

Cap Rate
6.77%
Gross SF
19,978
Rentable SF
19,978
Price/Gross SF
$147.66
Lot Size
0.69 acres
Year Built
2003

Investment Overview

This offering consists of four condominiums of professional office and medical office use, totaling 19,978 rentable square feet, located in southwest Colorado Springs, CO. The improved property consists of 6 condominium units, two of which are separately owned and occupied by two medical related occupants and not a part of this offering. Of the 19,978 square feet offered herewith, 88.7 percent is occupied leaving only 2,179 square feet of vacancy for lease. This two-story property was constructed in 2003 and has been well-maintained, showing little if any deferred maintenance. Current ownership operates and manages the entire property for all six condominiums. All taxes insurance and common area maintenance items are billed back to the owner/occupants on a NNN prorata basis. There is plenty of off-street parking consisting of 85 spaces of four space per 1000 square feet. Quail Lake Offices is accessible right off, the I-25 - Lake Avenue intersection in the highly desirable southwest section of Colorado Springs. Within a one-mile radius of the property is affluent retail shopping, numerous Class A and Class B apartment buildings, office and medical facilities and some of Colorado Springs most affluent residential neighborhoods. In addition, the property sits within one mile of the internationally famous hotel resort of The Broadmoor Hotel. Offered at $147.66/square foot and having the ownership structure of four condominium units, provides the investor a stable, occupied property at present with the potential to sell off individual units to individual owner/occupants at sustainability higher prices.

Investment Highlights

  • Well Leased with Upside in Leasing Vacant Spaces
  • Very Well-Maintained, No Deferred Maintenance
  • All Leases NNN, No Slippage in CAM Recoveries
  • Condominium Map Adds Flexibility and Additional Profitability Potential
  • Great Desirable Colorado Springs Location Near Base of Cheyenne Mountain, Near Broadmoor Hotel
  • Convenient Access to I-25

Exclusively Listed By

Financing By

Listing Price: $2,950,000

Cap Rate
6.77%
Gross SF
19,978
Rentable SF
19,978
Price/Gross SF
$147.66
Lot Size
0.69 acres
Year Built
2003

Investment Highlights

  • Well Leased with Upside in Leasing Vacant Spaces
  • Very Well-Maintained, No Deferred Maintenance
  • All Leases NNN, No Slippage in CAM Recoveries
  • Condominium Map Adds Flexibility and Additional Profitability Potential
  • Great Desirable Colorado Springs Location Near Base of Cheyenne Mountain, Near Broadmoor Hotel
  • Convenient Access to I-25

Investment Overview

This offering consists of four condominiums of professional office and medical office use, totaling 19,978 rentable square feet, located in southwest Colorado Springs, CO. The improved property consists of 6 condominium units, two of which are separately owned and occupied by two medical related occupants and not a part of this offering. Of the 19,978 square feet offered herewith, 88.7 percent is occupied leaving only 2,179 square feet of vacancy for lease. This two-story property was constructed in 2003 and has been well-maintained, showing little if any deferred maintenance. Current ownership operates and manages the entire property for all six condominiums. All taxes insurance and common area maintenance items are billed back to the owner/occupants on a NNN prorata basis. There is plenty of off-street parking consisting of 85 spaces of four space per 1000 square feet. Quail Lake Offices is accessible right off, the I-25 - Lake Avenue intersection in the highly desirable southwest section of Colorado Springs. Within a one-mile radius of the property is affluent retail shopping, numerous Class A and Class B apartment buildings, office and medical facilities and some of Colorado Springs most affluent residential neighborhoods. In addition, the property sits within one mile of the internationally famous hotel resort of The Broadmoor Hotel. Offered at $147.66/square foot and having the ownership structure of four condominium units, provides the investor a stable, occupied property at present with the potential to sell off individual units to individual owner/occupants at sustainability higher prices.

Exclusively Listed By

Financing By

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