Mitre Office Building
50,012 SF | Office Building | Colorado Springs, CO 80910 | $9,990,000 ($200/SF) | 9.26% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $9,990,000
- Property Type
-
Office
- Square Feet
- 50,012 SF
- Price / Square Foot
- $200
Listing Contacts
Alex Dumas
Verified Profile
James Justus
Verified Profile
- Property Info
Property Overview
Introducing an exceptional investment opportunity at 1155 Academy Park Loop, Colorado Springs—an office building poised as a valuable
acquisition in a thriving market. This impressive property spans 50,012 square feet with a 5-year net lease with MITRE Corporation, a nonprofit corporation in the Science and Technology field with solid credit and over $2.2B in revenue in 2022, ensuring a stable and reliable income stream for an investor.
The building is offered at a sale price of $9,990,000, reflecting a cap rate of 9.26% and a price per square foot of $199.75, which is well below replacement cost. This attractive yield underscores the investment’s potential for substantial returns, bolstered by the security of a long-term lease with a reputable and financially robust tenant.
- Purchase an asset well below replacement cost.
- NNN lease with limited Landlord responsibilities.
- Strong credit and established tenant.
- Construction of the original 35,000 SF building was completed in 2002 by Panatonni Construction Co., a leading developer.
- Construction of 15,000 SF addition was completed by Panatonni in 2005, which included a secure loading bay, among other improvements.
- Significant improvements done in the last decade to upgrade the facility to meet the Tenant’s needs.
- Located in an Enterprise Zone
acquisition in a thriving market. This impressive property spans 50,012 square feet with a 5-year net lease with MITRE Corporation, a nonprofit corporation in the Science and Technology field with solid credit and over $2.2B in revenue in 2022, ensuring a stable and reliable income stream for an investor.
The building is offered at a sale price of $9,990,000, reflecting a cap rate of 9.26% and a price per square foot of $199.75, which is well below replacement cost. This attractive yield underscores the investment’s potential for substantial returns, bolstered by the security of a long-term lease with a reputable and financially robust tenant.
- Purchase an asset well below replacement cost.
- NNN lease with limited Landlord responsibilities.
- Strong credit and established tenant.
- Construction of the original 35,000 SF building was completed in 2002 by Panatonni Construction Co., a leading developer.
- Construction of 15,000 SF addition was completed by Panatonni in 2005, which included a secure loading bay, among other improvements.
- Significant improvements done in the last decade to upgrade the facility to meet the Tenant’s needs.
- Located in an Enterprise Zone
Property Details
- Class
- B
- Year Built/Renovated
- 2001/2014
- Stories
- 1
- Lot Size (sq. ft)
- 194,278 SF
Highlights
- Purchase an asset well below replacement cost.
- NNN lease with limited Landlord responsibilities.
- Strong credit and established tenant.
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