4038 Dover Dr, Colorado City, CO

Description

Purchased the former ?Columbia House? distribution facility for 20% of replacement cost Kroger occupied the entire building on a two-year lease, eventually extending for one additional year Property generated a $700,000 NOI Used excessive cash flow to pay down 90% of the loan before distributing profits to the investors New owner currently has property listed for $6,000,000

Details

Cost PSF
$9.68
Sale Price
$4,650,000
Total Cost
$2,400,000
Acquisition Date
April, 2003
Add. Capital Costs
$50,000
Sale Date
March, 2005
Total Project Size
248,000
Sale Price / SF
$18.75
Avg Annual Return
98%
Acquisition Price
$2,350,000