$4,250,000
$4,500,000
5.6%For more information regarding the value of a property, please contact us for a free consultation.
26,340 SqFt
SOLD DATE : 07/13/2021
Key Details
Sold Price $4,250,000
Property Type Commercial
Sub Type Sale: Commercial/Industrial
Listing Status Sold
Purchase Type For Sale
Square Footage 26,340 sqft
Subdivision Cimarron Plaza
MLS Listing ID 936749
Sold Date 07/13/21
HOA Y/N false
Abv Grd Liv Area 26,340
Originating Board IRES MLS
Year Built 1987
Annual Tax Amount $88,808
Lot Size 2.260 Acres
Acres 2.26
Property Description
RE/MAX Commercial Alliance is pleased to present the opportunity to purchase this well tenanted and diverse retail offering. The buildings at 1113 & 1119 W Drake Road are situated within Cimarron Plaza Shopping Center located at Drake Road and Shields Avenue, which provide main arterial access for Fort Collins and to I-25. This site is within walking distance to Colorado State University and nestled within a strong housing demographic and dense employment. A stable tenant mix and central location within Fort Collins rounds out this desirable investment property. Ideal for the risk adverse investor as this center historically has extremely low vacancy. 1113 & 1119 W Drake can be purchased together for $6,850,000 at a 6.6% cap rate. 1119 W Drake can be sold separately for $4,500,000 at a 6.75% cap rate. 1113 cannot be sold separately. Please contact the listing broker for more information.
Location
State CO
County Larimer
Area Fort Collins
Zoning C
Direction At the SWC of Drake and Shields
Interior
Heating Forced Air
Cooling Refrigeration/HVAC
Exterior
Roof Type Rubber
Building
Water City Water, City Fort Collins
Structure Type Block
New Construction false
Others
Senior Community false
Tax ID R1226258
SqFt Source Other
Special Listing Condition Private Owner
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Bought with CO-OP Non-IRES
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