Colorado NNN, Southwest Region

Property Description

Colorado NNN executive suites ideal for 1031 exchanges that demand a 8.00% CAP.

11 remaining suites which are all leased to a single tenant on a master lease. Tenants include Real Estate office, Computer shop, Insurance company, Counseling office, antique emporium plus two individual antique shops.

There are 24 months remaining on the current 5 year master lease (NNN) giving the buyers an 8% CAP. ($159,100.00 annual income). The owners could rewrite the lease for 5 years if necessary and include 3% escalators . It also has one five year renewable option . Taxes are about $17,000. per year and the only other expense is outside lighting and insurance plus some snow removal and trash removal but that is nominal and will be paid by us as part of the NNN. A real estate office is located in this complex as well, so management is at no charge to the buyer.

The company doing the master leaseback is the owner of a real estate company that has. been active in this commercial market for over 36 years. They specialize in 1031 exchanges and doing condo conversions on retail, office and industrial project as well as some land development.

If able move quickly (close with 45 days) they would likely increase the cap rate. They have a current MAI appraisal just completed in July of 2008. Lease dates shown are estimates.

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