Colorado City Warehouse
4038 Dover Drive Colorado City CO
Property Pictures
Historical Performance Details
- Acquisition DateApril, 2003
- Total Project Size248,000 SF
- Acquisition Price$2,350,000
- Add. Capital Costs$50,000
- Total Cost$2,400,000
- Cost PSF$9.68
- StatusSold - Mar, 2005
- Sale Price$4,650,000
- Sale Price / SF$18.75
- Ave. Annual Return98%
- 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


