Bldgs 1-6 Iliff Office Park
62,365 SF 100% Leased Office Building Aurora, CO 80014 £4,657,020 (£75/SF) 8.04% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Frontage to Iliff Avenue & Troy Street, Digital Monument Advertising Sign
- 15 Miles to Denver International Airport, High Occupancy, Lease Rate Increases Every January
- 5 Blocks to Light Rail, 2 Blocks to Bus Line, 1/2 Mile to I-225, 4 Miles to I-25
EXECUTIVE SUMMARY
Cash or New loan Owner May Carry with $3M down 5 year 6% interest only Call for more details.
Leases have annual rate increases built in. 2025 scheduled rents are $904,620 which makes 8.41% ROI with built in reserves of $15,200 (annually) for any upgrade and/or maintenance needs.
These buildings are consistently full. If there is a turn over it is quickly filled. Owner does NO tenant finish. Tenants finish all leased space. There are many tenants that have been here for 10+ years.
The upgrades in 2024 consist of new boiler 10/24, 50+ roof mounted AC units with (2) new roofing and risers (85%+ of the AC units are between 1-5 years old), additional new gutters & drainage, electrical upgrades, parking deck(s) resurfacing, parking lot re-striping, parking garage restriping, new building signage, new exterior paint, digital signage and landscape upgrades.
Leases have annual rate increases built in. 2025 scheduled rents are $904,620 which makes 8.41% ROI with built in reserves of $15,200 (annually) for any upgrade and/or maintenance needs.
These buildings are consistently full. If there is a turn over it is quickly filled. Owner does NO tenant finish. Tenants finish all leased space. There are many tenants that have been here for 10+ years.
The upgrades in 2024 consist of new boiler 10/24, 50+ roof mounted AC units with (2) new roofing and risers (85%+ of the AC units are between 1-5 years old), additional new gutters & drainage, electrical upgrades, parking deck(s) resurfacing, parking lot re-striping, parking garage restriping, new building signage, new exterior paint, digital signage and landscape upgrades.
DATA ROOM Click Here to Access
- Operating and Financials
- Third Party Reports
- Title and Insurance
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Building Size
62,365 SF
Building Class
B
Year Built/Renovated
1980/2024
Price
£4,657,020
Price Per SF
£75
Net Initial Yield
8.04%
NOI
£374,207
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
20,788 SF
Slab to Slab
12 ft
Building FAR
0.68
Lot Size
2.12 AC
Zoning
PC-ZD - Commercial Office
Parking
215 Spaces (3.45 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Route
- Courtyard
- Property Manager on Site
- Signage
- Central Heating
- Suspended Ceilings
- Monument Signage
- Air Conditioning
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 1973-25-3-11-003 | Total Assessment | £669,794 |
| Land Assessment | £0 | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £0 | Tax Year | 2024 |
CONTACT
-
Trish Rayner-Gutierrez - 7th Avenue Properties LLC
