Denver, CO – June 15, 2020 – AQYRE Real Estate Advisors is proud to announce the sale of Monroe Professional Building for $3,825,000. Located on the SWC of 12th Avenue and Monroe Street in Denver’s highly desirable Congress Park neighborhood, Monroe Professional Building is within walking distance of a host of restaurants, shops, and two regional hospitals (National Jewish Health and Rose Medical Center).
Kevin Calame and Matt Lewallen, principals at AQYRE Real Estate Advisors, represented the transaction for both the buyer and the seller.
“The seller was looking for an opportunity to move their equity into a more passive investment and was able to achieve a price with a nice profit to justify the sale. The buyer was in a 1031 exchange and saw a value-add opportunity with the management of this space.”
“Although office has been unpredictable during this time in Covid, due to the location of this property and the smaller office spaces, this property continued to perform well. The property sold at 95% occupancy with a list of applicants wanting to rent the last couple units.” – Kevin Calame, AQYRE Principal.
For more information on this investment or current market conditions, contact either Matt Lewallen at 720.738.1940 / Matt@AQYRE.com or Kevin Calame at 720.738.1939 or Kevin@AQYRE.com.
SALE HIGHLIGHTS
Property Name: Monroe Professional Building
Property Address: 3570 E 12th Ave. Denver, CO 80206
Sale Price: $3,825,000
Building Size: 12,500 SF
$/SF: $306
Cap Rate: 6.87% (Current)
Closed at 99.8% of contract price!
PROPERTY HIGHLIGHTS
40+ small office spaces
Excellent Congress Park location
Good parking ratio with private on-site spaces
Large conference room available to all tenants and live receptionist services during business hours
ABOUT AQYRE REAL ESTATE ADVISORS
We’re a collection of experienced real estate brokers committed to relationships built on results. We share a belief that our client’s goals take priority over our transaction results and we’ve been rewarded with long-term relationships with investors who trust us. As a brokerage, we are committed to remaining a small firm with high caliber individuals allowing investors more access to experienced advisors – we stress quality over quantity.
