December 28, 2021
Announcing the Sale of 157 N. Steele Street for $3,900,000
Denver, CO – December 30, 2021 – Madison Commercial Properties is pleased to announce the sale of 157 N. Steele Street, Denver, CO. The NNN leased investment is located on the ground floor of Laurel Cherry Creek, an exclusive collection of high-rise, luxury residences in the heart of Cherry Creek North. The 3,893 SF condominium unit, occupied on a long term basis by Elite Body Sculpture, sold on December 28, 2021 for $3,900,000, $1,002/SF, 5.5% cap rate.
Michael Griffin, Senior CRE Advisor with Madison Commercial Properties, represented the local cash buyer in the transaction.
“I am thrilled to have assisted my client in the acquisition of their first commercial real estate investment in Denver. They were attracted to the A+ location and true NNN lease structure of the deal, which will allow them to remain hands-off while collecting passive income as Elite Body Sculpture continues to thrive,” stated Michael Griffin, Senior CRE Advisor with Madison Commercial Properties.
For more information on this transaction, please contact Michael Griffin: