June 7, 2021
Announcing the Sale of 330 N. Institute Street in Colorado Springs, CO
Denver, CO – June 7, 2021 – Madison Commercial Properties is pleased to announce the sale of 330 N. Institute St., Colorado Springs, Colorado. The 3,325 SF, single tenant, net leased Switchback Coffee Roasters, sold on June 7, 2021 at $920,000 which equates to a 7.11% cap rate and $277/SF.
Matt Harper, Commercial Real Estate Advisor with Madison Commercial Properties represented the local purchaser, R&L Commercial, LLC, in the transaction. The Seller, Harvest Mxd, LLC was represented by Hoff & Leigh.
“I am thrilled to have assisted my client in the acquisition of their first commercial real estate investment. They were attracted to the true NNN lease structure of the deal, which will allow them to remain hands-off while collecting passive income as Switchback Coffee Roasters continue to thrive,” stated Matt Harper, Commercial Real Estate Advisor with Madison Commercial Properties.