1391 lima street om 10.24 - bleeds · aurora, long known as a bedroom community of denver,...

OFFERING MEMORANDUM1391 LIMA STREET Aurora, CO 80010

For More Information Contact

JASON KOCHCo-Founder/Principal

303.918.8909 | [email protected] |

SEAN HOLAMONInvestment Advisor


CONFIDENTIALITYDISCLAIMER

This confidential Offering Memorandum, has been prepared by Nexus Commercial Realty for use by a limited number of qualified parties. This Offering Memorandum has been provided to you at your request based upon your assurances that you are a knowledgeable and sophisticated investor in commercial real estate projects and developments. Nexus Commercial Realty recommends you, as a potential buyer/investor, should perform your own independent examination and inspection of the property located at 1391 Lima Street located in Aurora, Colorado (the “Property”) and of all of the information provided herein related to the Property. By accepting this Offering Memorandum, you acknowledge and agree that you shall rely solely upon your own examination and investigation of the Property and you shall not rely on any statements made in this Offering Memorandum or upon any other materials, statements or information provided Nexus Commercial Realty or its brokers.

Nexus Commercial Realty makes no guarantee, warranty or representation about the completeness or accuracy of the information set forth in this Offering Memorandum. You are responsible to independently verify its accuracy and completeness. Nexus Commercial Realty has prepared the information concerning the Property based upon assumptions relating to the general economy, its knowledge of other similar properties in the market, and on other market assumptions including factors beyond the control of the Nexus Commercial Realty and the Owner of the Property. Nexus Commercial Realty make no representation or warranty as to either the accuracy or completeness of the information contained herein, and the information set forth in this Offering Memorandum in not intended to be a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be accurate, Nexus Commercial Realty and the Property Owner disclaim any responsibility or liability for any inaccuracies. Further Nexus Commercial Realty and the Property Owner disclaim any and all liability for any express or implied representations and warranties contained in, or for any omissions from, the Offering Memorandum and for any other written or oral communication transmitted or made available to you. Nexus Commercial Realty shall make available to you, as a qualified prospective investor, additional information concerning the Property and an opportunity to inspect the Property upon written request.

This Offering Memorandum and the contents are intended to remain confidential except for such information which is in the public domain or is otherwise available to the public. By accepting this Offering Memorandum, you agree that you will hold and treat Offering Memorandum in the strictest confidence, that you will not photocopy or duplicate it, or distribute it. You agree you will not disclose this Offering Memorandum or its contents to any other person or entity, except to outside advisors retained by you and from whom you have obtained an agreement of confidentiality, without the prior written authorization Nexus Commercial Realty. You agree that you will use the information in this Offering Memorandum for the sole purpose of evaluating your interest in the Property. If you determine you have no interest in the property, kindly return the Offering Memorandum to Nexus Commercial Realty at your earliest convenience.


| 806.789.9799 | [email protected]

JASON KOCHCo-Founder/Principal | 303.918.8909 | [email protected]




Property Overview

Property Photos

Maps

Financials

Sold Comparables

Location Overview

Demographics

The Nexus People

TABLE OFCONTENTS




PROPERTYOVERVIEW

PROPERTY OVERVIEWProperty Name: The Vermont

Address: 1391 Lima Street

Aurora, CO

Units: 8

Building SF: 5,320 SF

Parking: 10 Spaces

Land: 6,350

Zoning: R-3

Year Built: 1965

Year Renovated: 2017

SYSTEMSGas/Elec Meters: Master / Individual Water: MasterTrash: Waste ManagementRoof: Pitched Heating: Boiler Cooling: Wall Units

Purchase Price

Price Per Unit

Price Per Foot

$1,070,000

$133,750

$201

INVESTMENT SUMMARY

Located within 2 minutes to University of Colorado

Hospital and Fitzsimons

New boiler and new front door

Located within 5 minutes of Stapleton and Stanley Marketplace

INVESTMENT HIGHLIGHTSNew irrigation system

Walking distance to Nome Park

recreation area

Large one bedroom units, all updated

LOWRY PARKLOWRY PARK




PROPERTYPHOTOS

New irrigation system

Walking distance to Nome Park

recreation area

Large one bedroom units, all updated




PROPERTYPHOTOS




MAC

ON ST

LIA

M S

T

14TH AVE

E COLFAX AVE

KINGST

ON ST

LAN

SIN

G ST

N

PROPERTYAERIAL




COLFAX AVE

COLO

RAD

O B

LVD

14TH AVE

DENVERZOO

STAPLETON

LOWRY

HEALTH ONELOWRY PARK

FITZSIMONS DEVELOPMENT

UNIVERSITY OF COLORADO HOSPITAL

AURORASUBMARKET




RTD COLFAX STATIONR-LINE

Purchase Price:

Units:

Price Per Unit:

Total SF:

Price Per SF:

T3 Cap Rate:

Year 1 Cap Rate:

Year 1 Cash Flows:

5 Year IRR:

$1,070,000

8

$133,750

5,320

$201

5.44%

6.45%

37,063

32%

INVESTMENT SUMMARY

Loan to Value:

Loan Amount:

Loan Term:

Interest Rate:

Interest Only Period:

Amortization:

80.00%

$856,000

30

4.00%

12 months

30 Years

DEBT SUMMARY

INVESTMENTSUMMARY




RENT ROLLANALYSIS

Unit Type

1x1

Total / Average

Unit Amount

8

8

Unit SF

665

665

Current Ave. Rent

$878

$878

Current Rent / SF

$1.32

$1.32

Market Rent

$975

$975

Market Rent / SF

$1.47

$1.47

UNIT SUMMARY:

$775

$700

$600

$500

$400

$300

$200

$100

$0 Earlier Sept-18Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Later

LOSS TO LEASE BURN-OFFNet Loss to Lease Gain to Lease

LEASE EXPIRATION SCHEDULE4

3

2

1

0Earlier Sept-18Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Later

1 Bed

# of

Uni

ts




FINANCIALS

REVENUE

Gross Potential Revenue

(Vacancy)

Rental Revenue

Expense Reimbursement

Other Income

Effective Gross Revenue

EXPENSES

Repairs and Maintenance

Utilities

Insurance

Real Estate Taxes

Property Management

Admin and Other

Total Expenses

Expenses Per Unit

Net Operating Income

Cap Rate

Debt Service - Yr 1

Total Cash Flow

Cash on Cash Return

T12 Annualized

$84,300

($4,215)

$80,085

$0

$0

$80,085

($2,700)

($5,758)

($3,436)

($2,581)

($6,407)

($1,100)

($21,982)

($2,748)

$58,103

5.43%

($31,875)

$26,228

12.26%

Year 1

$93,600

($4,680)

$88,920

$0

$2,000

$90,920

($2,700)

($5,758)

($3,436)

($2,581)

($6,407)

($1,100)

($21,982)

($2,748)

$68,938

6.44%

($31,875)

$37,063

17.32%

Year 2

$96,408

($4,820)

$91,588

$0

$2,060

$93,648

($4,000)

($5,931)

($3,539)

($2,658)

($6,599)

($1,133)

($23,860)

($2,983)

$69,787

6.52%

($47,238)

$22,549

10.54%

Year 3

$99,300

($4,965)

$94,335

$0

$2,122

$96,457

($4,120)

($6,109)

($3,645)

($2,738)

($6,797)

($1,167)

($24,576)

($3,072)

$71,881

6.72%

($47,238)

$24,643

11.52%INC

OM

E

ST

AT

EM

EN

T




24

1

3

SOLDCOMPARABLES

Address

1391 Lima Street

1109 Akron Street

11914 E 14th Ave

1422 Leyden Street

1585 Moline Street

# Comp

SUBJECTPROPERTY

1

2

3

4

Averages

Units

8

10

8

11

6

Building SF

5,320

7,352

3,924

9,109

4,620

Sale Price

$1,070,000

$1,300,000

$830,000

$2,154,999

$650,000

$1,233,750

Price Per Unit

$133,750

$130,000

$103,750

$195,909

$108,333

$134,750

Price Per Foot

$201

$177

$212

$237

$141

$191

Cap Rate

6.44%

6.35%

6.38%

6.50%

6.62%

6.46%




About Aurora Aurora, just east of Denver, is Colorado's third-largest city. Aurora developed as a military town, with construction of the Fitzsimons Army Hospital and the later additions of Buckley and Lowry airfields. Today, this city leads the nation in redevelopment, with the creation of new housing and recreational and technical-business plazas in and around the former airfields. Aurora is home to more than 100 parks, 50 miles of trails, and two gorgeous reservoirs—not to mention the 6,000 acres of open space.

ActivitiesAurora, Colorado truly serves as the Gateway to the Rocky Mountains, giving visitors access to Colorado ski resorts, Rocky Mountain National Park, and more. Aurora is home to 11 championship golf courses to play, as well as an 18-hole executive course., many diverse dining options, 8 local breweries, three public reservoirs and the Aurora Symphony Orchestra.

DemographicsAurora, long known as a bedroom community of Denver, maintains a small town, suburban feel in many areas for its 350,000 residents. Aurora is home to two US News and World Reports top nationally ranked hospitals, and boasts nearly one doctor per every ninety Aurora residents. Tourism supports 7,000 jobs in Aurora and generates $25 million in state taxes and $22 million in local taxes. Aurora’s population is eclectic and well educated. With convenient access to the Denver regional public transportation system (RTD) and several major highways, residents can travel throughout the Denver metropolitan area with ease. LightrailThe newest transportation option, the R Line (also known as the Aurora Line) connects to DIA and runs through Aurora adjacent to I-225, spanning 22 miles in total.

LOCATION OVERVIEW




2017 Summary

Population

Households

Families

Average Household Size

Owner Occupied Housing Units

Renter Occupied Housing Units

Median Age

Median Household Income

Average Household Income

2022 Summary

Population

Households

Families

Average Household Size

Owner Occupied Housing Units

Renter Occupied Housing Units

Median Age

Median Household Income

Average Household Income

1 Mile

27,392

8,807

5,692

3.10

3,293

5,515

30.7

$37,740

$47,654

1 Mile

28,934

9,265

5,959

3.11

3,464

5,801

31.1

$40,036

$54,237

3 Miles

170,915

62,481

36,174

2.65

27,824

34,657

32.9

$46,641

$68,174

3 Miles

186,054

67,988

39,175

2.66

30,438

37,551

33.0

$52,207

$79,862

5 Miles

412,026

162,285

91,056

2.50

76,538

85,747

34.0

$51,530

$76,200

5 Miles

447,864

175,861

98,281

2.51

82,954

92,908

34.2

$57,500

$88,308

5 MILES

3 MILES

1 MILE




DEMOGRAPHICS

THE NEXUSPEOPLE NOT YOUR

AVERAGE BROKERS.

ADAM RIDDLECo-FounderPrincipal

[email protected]

JASON KOCH Co-FounderPrincipal

303.918.8909 [email protected]

WALLIS HUTCHENS Office Manager


AUSTIN SMITH Investment Advisor


CRYSTAL PIERCY Investment Advisor719.231.2041 [email protected] Springs Office

SEAN HOLAMON InvestmentAdvisor


TYLER FISH InvestmentAdvisor

701-595-1887 [email protected]

As a team, we might not appear as your typical brokerage – and

that’s by design. You might find us in jeans instead of slacks,

outside meeting people instead of in our office, and overall

approaching this business with a different flare. Even though

we’ve been in the industry for more than two decades, we are as

enthusiastic, energetic and collaborative as when we first started.

At Nexus, there is no internal competition because our purpose is

aligned in achieving the goals desired by our clients first. Please

contact any of us to find out what makes us different and if we can

help you achieve your wealth goals.




ROBERT GRAYInvestmentAdvisor713.857.3054 [email protected] Springs Office

1391 LIMA STREET AURORA, CO

For More Information Contact

SEAN HOLAMONInvestment Advisor806.789.9799 |

[email protected] |

JASON KOCHCo-Founder/Principal


1391 lima street om 10.24 - bleeds · aurora, long known as a bedroom community of denver,...

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