- For Sale $2,310,000
- Property Type Office - Medical Office
- Property Size 7,347 SF
- Cap Rate % 7
- NOI / YR $161,634.00
- Date Updated Apr 28, 2026
Description
• Tenant: The Colorado Dermatology Institute
• Units for sale: Condominiums 200, 205, and 225
• Size: 7,347 square feet [27.79% of the entire building] all located on the 2nd floor
• Lease length: 7 years with 2 five-year renewal options
• Lease Rate: $22.00 per square foot per year NNN with 3% annual increases in rent
• Net Operating Income: $161,634
• Price per square foot: $314.29
• Condition of the building: Class A with a new roof and RTUs
• HOA: The Seller’s portion of the monthly HOA contribution is:
Suite 200: $1,793.54 for monthly operating costs + $729.22 for capital reserves
Suite 205: $1,591.59 for monthly operating costs + $647.11 for capital reserves
Suite 225: $3,296.17 for monthly operating costs + $1,340.15 for capital reserves
• The 2025 operating budget was $288,505 (approximately $11 per square foot)
• Currently, the HOA possesses $164,169 in the capital reserve account.
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Contacts
Hoff & Leigh
Hoff & Leigh
Hoff & Leigh