Denver, CO – June 2, 2022 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of 410 Tucker Street, Craig, CO 81625
Jack Sherman and Dan Hawthorne of NorthPeak Commercial Advisors represented the seller in this transaction. Hunter Schaefer of NorthPeak Commercial Advisors represented the buyer.
“This deal was put together through off-market collaboration in NorthPeak. The Seller was able to capture a significant amount of equity from sharp short-term appreciation and we set a new record price in Craig, Colorado.”
– Jack Sherman, NorthPeak Commercial Advisors.
“This Buyer was looking for a deal with cap rates above the market rate Denver deals in the 4-5% CAP range and was excited to find this opportunity at a 6.7% CAP with upside to north of an 8 CAP via renovation and rent growth. We were also happy to deliver a smooth in house transaction with this off market deal.”
– Hunter Schaefer, NorthPeak Commercial Advisors.
For more information on this investment or current market conditions, please contact Jack Sherman at 303-903-9638 or Jack@NorthPeakCRE.com
SALE HIGHLIGHTS
- Address: 410 Tucker St., Craig, CO 81625
- Sale Price: $2,800,000
- Closed Date: May 31, 2022
- Number of Units: 35 ($80,000/Unit)
- Property SF: 33,000 SF ($84/SF)
- Cap Rate: 6.7%
- Property Type: Multifamily
