Current Use by Public Records
- Warehouses
Property Details for 3410 Townsend Ave
- Year built
- 2024
- Lot size
- 1.70 lot acres
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a brand-new, 10,000-square-foot Class A industrial distribution center in Montrose, Colorado. Located at 3410 N Townsend Ave, 81401, this single-story building boasts a 20-24 foot ceiling height, one loading dock with one dock-high door, and sits on a 1.7-acre lot. The property features a modern design with a stucco and brick facade. It is currently 100% occupied by a credit-rated national tenant, Rexel, under a 7-year NNN lease commencing August 1, 2024, and expiring July 31, 2031. The lease includes two five-year renewal options and features 2% annual rent escalators. The initial Net Operating Income (NOI) is $210,000, projected to reach $250,800 by year seven, resulting in a current cap rate of 6.6% and a pro-forma cap rate of 7.4%. The asking price is $3,181,810, translating to $338.50 per square foot. The property is zoned B3 and represents a compelling investment opportunity due to its strong tenant, long-term lease, and attractive cap rate. This is an ideal asset for investors seeking a stable, high-return investment or those participating in a 1031 exchange.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Montrose
- County
- Montrose
- State
- Colorado
- Longitude
- -107.915
- Latitude
- 38.5133
