Scottsdale developer flips former FirstBank in Aurora for $1.5 million profit – Colorado News

Scottsdale developer flips former FirstBank in Aurora for $1.5 million profit – Colorado News

Arapahoe County

Address or Location: 7460 S. Gartrell Rd, Aurora

Improvements: 4,452 medical building YOC 2006 (renovated in 2017)

Land Size: 1.1 acres

Date of Recording: 8/10

Reception No.: B7091255

Price: $2.74M or $615.45 psf

Grantor: Cathedral Canyon Investments LLC, (Brenton Smith, mgr)

Grantee: Greg Grinter (Edwardsville IL) 618-656-6875

Financing: Cash

Comments: The APN is 2073-25-4-31-002. The property is leased to Metro Urgent Care. The building was redeveloped from a FirstBank location to a medical building for the tenant. The property sold on a “going in cap rate” of 6.16% with a 15-year lease. The property was listed by the Kobold Group, Scott Hintze, listing broker and associated with the seller, 602-549-4173. The seller acquired this property in November 2016 for $1,225,000.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.

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