Denver Area Distressed Perl Mack Homes wanted

If you are considering selling, short selling or allowing your Denver area Perl Mack home to go into foreclosure, please STOP and call us first!  Allowing your home to go into foreclosure is a terrible idea that can have serious long term credit and financial consequences.  You are almost always better off by doing a 'short sale' with an experienced Colorado short sale real estate broker.  By doing a short sale you may be eligible to get an FHA loan again in as soon as two years!  A foreclosure will generally require seven year before obtaining a loan.

We specialize in selling Perl Mack homes in the Denver metro area.  Oftentimes, we have multiple fix and flip buyers already lined up.  We can negotiate the short sale with your bank or multiple lien holders, we can procure an offer, and follow the process through in detail while keeping you fully informed the entire way.  This will usually allow you, the homeowner to simply 'walk away' from the house is the lender approves the short sale and forgives any definciency.

Usually the short sale process will take anywhere from 3-6 months to complete, during that time you don't want to be constantly interupted with home showings, offers that require inspection approvals and appraisal approvals in order to close.  By accepting an offer that has inspection and/or appraisal contigencies, you are opening yourself up to the possiblity that the contract may not close and the bank will not extend the time until a foreclosure sale is held.  IF a foreclosure sale is held, you will almost certainly be liable for any deficiencies in the mortgage amounts, attorney fees, and court fees and costs.

Some of our Perl Mack home buyers can even close as fast as seven days or less!

Stuart Dobson
Broker / Owner
Surety Realty Inc.
Stuart@stuartdobson.com
303.919.0309 direct

Landlords in the commercial space offer a variety of different lease types for tenants.  Some of these lease types include: Full Service Gross (FSG), Modified Gross (MSG), Industrial Gross (IG), Net (N), and Triple Net (NNN).
For the sake of this article, we’ll be speaking about the differences between Full Service Gross (FSG) and Triple Net (NNN).  Simply put, with an FSG lease, the landlord assumes the risk that property taxes, utilities (including Internet/Phone), property casualty insurance, property maintenance, landscaping, snow removal, and other expenses will increase and thus includes these expenses in the monthly base rent.  One advantage of an FSG gross is that the responsibility of all the operational expenses rests on the landlord’s shoulders and all you need to worry about is paying the monthly rent.  Additionally with an FSG lease the landlord is casting a vote of confidence that they can run the property better, more efficiently, and for less money than some disinterested third party manger can, and thus is willing to accept the risks inherent in the non fixed property costs.  Typically in an FSG lease you will see owner/operator property managers or smaller property managers that are easier to approach and work with on a daily basis.
Conversely, with a NNN lease, the tenant assumes those risks. The tenant must also contract separately for utilities, janitorial, and trash service.  With a NNN office lease, the landlord will typically maintain all common areas and pass these costs on to the tenant in accordance with Tenant’s proportionate share.  In this case the landlord doesn't have nearly as much, if any, incentive to keep costs down since the costs are passed through to the tenant per the lease agreement.  These agreements can be VERY risky for the tenant who doesn't have a well versed attorney or broker advising them or who isn't extremely experienced when analysing NNN lease terms.  When advertised, a NNN lease usually appears to be a cheaper monthly expense – but don’t be fooled!
If you’re scouring the Internet and comparing different rental make sure you look at what the landlord is quoting – a NNN or FSG?  If quoting an NNN, be sure to inquire about ALL expenses you will be assuming.  Advertising NNN rates can be enticing to prospective tenants but that number will most likely look less attractive as you start piling on monthly expenses.  For example, how much is your monthly electric bill?, water bill?, sewe?, what common area costs are there historically on the property?  What common elements such as walls, HVAC, plumbing, heating or air conditiong units is the landlord expecting you to maintain or repair?  Many tenants have found themselves on the hook for thousand or even tens of thousand of dollars when what appears to be a 'cheap' NNN lease term is enforced by a savvy landlord.  However, even with a NNN and all the expenses are included, it still may be a better option than a FSG lease.
Which one is easier, cheaper overall, and makes more sense for your business?  That is up for you, the prospective tenant, to decide and plan for. 

Example of an FSG lease medical office us building in Broomfield, CO.

http://www.suretyrealty.com/commercial/Commercial.php

I am in need of a Golf course consultant within a 2-3 hour drive of Texarkana, TX that can help me underwrite and evaluate the operations of a golf course that we are looking to purchase.

If you know of anyone with relevant experience withing that area that is looking for some paid consultant work, please let me know as soon as possible.

thank you,

Stuart Dobson

303.919.0309 direct

stuart@suretyrealty.com

 

Wells Fargo showed up, where's Bofa?

Wells Fargo just did a Foreclosure Prevention meeting in Denver yesterday to meet face to face with homeowners to help prevent foreclosure and solve their problems.  While this may have been a publicity stunt, at least Wells Fargo showed up.

We have a short sale with Bofa that has been in process with a short sale processsor since Jan 30th of this year. The seller is HAFA approved.  However, due to Bofa delays the first buyer walked, no problem, that happens, we had a backup buyer for the same price, terms, etc.  Here we are after six months, and no approval despite the assurance of every processor, manager, escalation, and attempt to deal with Bofa representatives and despite using the vaunted Equator system for managing short sales.

Now, it turns out that the second buyer, who has been waiting patiently, will be unable to qualify for a new loan when the underwriting guidelines change on July 24th.  When Bofa was informed of this, and repeatedly told that the terms are and have been the same for over two months now, their response was "oh well, you'll just have to start over again, we have our processess".

Here's a big shoutout to the caring and dedicated reps at Bofa:

Carol Phillips
Dee
Kellie - She would not give me a managers name or contact info. Said
this is the process we have to go through and if we do lose this buyer and
submit a new one, we will start over again, same process.
LRC dept Monique
Sheilah
LRC department Eric
Carol Phillips manager - Chamene Miranda
Angela Leyva

and although there are more, this short list witl have to do for now, you get the idea

You all suck and have been useless!

Bakery Sandwich shop for sale at 73rd Avenue and Lowell Blvd in Westminster

This popular Westminster turn key operation has an existing and growing client base and includes all equipment, displays, supplies and the remainder of a very attractive lease term with with all utilities included in a nearly new building.  There is a large neighborhood clientele and regular customers from within the building.  The school located directly across the street also brings in a great breakfast and lunch crowd.  The only thing not for sale in the catering side of the business and the business name. 

There is a nice patio seating area and plenty of room to expand on along Lowell Blvd on the North side of the building.

The inside of the business has an open kitchen with appliances and serving bar as well as a dining area.

This is a very cash intensive business and the current owner is selling because she has another location and catering business to run and so she can spend more time with her family.  The business cash flows VERY strongly and is being offered for sale far below any reasonable valuation.

Cash buyer preferred but the owner is willing to carry back part of the purchase price as well as offer some training and support to the new owners.  The exact terms of the deal are negotiable and the owner is willing to work with the new buyers to customize a deal that will work best for all parties.

Offering price $55,000.

Qualified purchasers will be provided with financials after signing a non disclosure agreement.

Offered exclusively by:
Surety Realty Inc

Jason Pavlovic
303.667.1622 direct

Stuart Dobson
303.919.0309 direct

Retail and Medical Office space for lease in Broomfield Colorado

The 6343 West 120th Avenue building is now available for Retail and/or Medical office suites that can be custom built to tenant specifications as to size, colors, and other features.  This office space is unique in the area for a number of reasons.

• Basement space for storage is available and can be accessed via elevator or stairs that can be added into the office area.
• Excellent on building and monument signage is available - your company name will be highly visible to traffic on 120th Avenue.
• This building offers the closest placement to the street on the 120th Avenue corridor, you will not be tucked away in some retail mall corner behind a parking lot.
• FSG means 'Full Service Gross' lease rates so you know exactly what your monthly lease payment is - you don't have liability for taxes, maintenance, utilities or other expenses, it's all included.
• The building will benefit from the increased vehicle traffic on 120th Avenue once the new 120th Avenue extension is completed approximately 18 months from now.
• Current vehicle traffic counts are 44,000 vehicles per day past the building according to CDOT.
• Right turn in right turn out Westbound access from 120th Avenue.  Eastbound traffic has a stoplight for turn in.

General:

This Broomfield Colorado building has excellent placement on the North side of 120th Avenue (U.S. Highway 287). Between Sheridan Blvd. and Main Street. Located in the Park Business Plaza with US Bank, Key Bank, and Century Chevrolet it is convenient to many restaurants, shopping centers, Broomfield Post Office, Broomfield City and County Courthouse, Library, Sports Complex and Home Depot. The building features Professional offices on the 2nd floor, Medical and Retail uses permitted on ground floor with basement space available for storage.


FSG vs NNN lease rates:

FSG stands for 'Full Service Gross',  NNN stands for 'Triple Net expenses'.  Dont be fooled by a low initial quoted lease rate!  No one is looking out for your business like you are, add all the costs to figure your actual monthly payment.  With an FSG lease, the landlord assumes the risk that property taxes, utilities, and  other expenses will increase, with a NNN lease, the tenant assumes those risks.  Which one is easier, cheaper overall, and makes more sense for your business?


High Traffic Count:

44,000+/- Vehicles every per day currently travel 120th Avenue past this building. Westbound access is Right in Right Out, Eastbound has a left turn lane at a stoplight offering easy access. Construction currently underway on the 120th Avenue Extension (expected to be completed in 18 months) to Interlocken Business Park and new Children's Hospital Branch at the 1stBank Center is projected to increase traffic on this major arterial by up to 10,000 vehicles per day.


Exterior Renovation:

The property is undergoing an Exterior remodel incorporating new architectural improvements to enhance the curb appeal and identity while maintaining the traditional appearance. Landscape improvements and new Monument Sign, will increase tenant exposure. Retail Signage is available on all building sides.


Interior Renovation:

The main  floor is completely renovated to build Multi-Tenant Retail Medical Office. Projected suite sizes are from 448+/- sq ft useable up to 7,600+/- sq ft.  Individual basement access with interior stairway option for storage space/inventory/assembly. Interior Atrium and New Storefront Exterior Doors on the North side of the building will provide easier customer access to your suite and provide privacy and help enhance the identity of your business.  A generous Tenant Finish included in base rent package includes drop grid ceilings, lighting, carpeting, and standard office electrical. There is even Level 3 Fiber optic inside the building and building wide wi-fi network.  Full ADA compliant public restrooms are already in place as well on the main and second floors.  Additionally, there is elevator and stair access to basement, main, and second floors.


Parking:

Ample free parking with cross easement parking and driveway access rights on adjoining properties in Park Business Plaza.


Lease Cost Example:  Suite 105

As an example of the FSG (Full Service Gross) lease rate for a Medical suite we will use the projected Suite 105.  Suite 105 has exterior windows, interior hallway access from the inside of the building, approximately 448 useable square feet of space and costs $25 sq ft FSG.  That equates to a monthly rent lease payment of $1,045 per month.  That's it, no additional for taxes, utilities (other than your own phones and internet service if you want), building maintenance, variable NNN (triple net) expenses that may go up from a landlord.  You know exactly what your monthly budget will be.  For that rate you get brand new space, new carpet, door, windows, walls, paint, ceiling, lighting and all the other building amenities including the restrooms, elevators, etc.  Additonally, if you need basement storage space for medical records or file storage, it is available for a nominal charge and will be partitioned off for just your business use and access.


Other Medical and Retail suite sizes and monthly lease rates:

Until leased, all suite sizes are flexible and can be altered for your business.

Suite 100:  6,272 +/- sq ft. -  This would be the entire contiguos first floor of the building to a single business user.  It would include the entire basement as well that could have a a variety of business uses from Records storage, Medical storage, light parts assembly, inventory storage, financial records storage, and may have many other uses depending upon permitted city uses.  Monthly cost would be negotiable based on final tenant finish, asking rate is $13,066 per month which would deliver over 12,000 square feet of space on the main floor and basement.  If this is the size of space you are looking for, purchasing the entire building and using the upstairs office tenants to reduce your ownership costs may make more sense.  Also, the SBA is very friendly about lending money to owner users at this time and rates are low.  Please contact us if you think this option may make sense for you and your business.

Suite 101:  Currently leased

Suite 102:  714 +/- sq ft -  $1,487 per month - This space may be ideal for a spa, medical user such as Orthodontist, ENT (Ear, nose and throat), Chiropractic, Dental, Tanning salon, etc.  With a private entrance available, private basement space available and accessable from inside the space via your own staircase (as well as elevator access common to the building), and a reasonable all inclusive monthly rental rate of $1,487 per month.  This is a great space for the business that wants new space, great exterior signage, and to be able to allow their customers to park right in front of their office door.

Suite 103:  642 +/- sq ft - $1,337 per month - This corner suite has windows on two sides, can offer private front door entry as well as private stairway access to equivalent basement space thereby giving approx. 1,350 sq ft of seable space for your business.  Again, the great thing is that you know your total monthly lease payment and  it will not change.   Whether your business is a clothing or apparel business, if you need inventory storage space, there is no sense paying for retail space in a strip mall at $25 sq ft plus $8 sq ft in NNN expenses for storage space.  With the basement included, this space equates to approximately $12.50 per sq ft.!!  A rate that is unbeatable for brand new retail or medical office space in Broomfield.

Suite 104:  1,157 +/- sq ft - $2,410 per month - If prominent, high visibilty signage is a requirement for your business, this Southwest corner suite  may be perfect for your business.  Offering multiple possible private interior door locations, this space can be custom built with offices, counters, basement stair access or almost any other requirement your business needs. 

Suite 105:  527 +/- sq ft - $1,098 per month - see example above

Suite 106:  1,942 +/- sq ft - $4,045 per month - With basic tenant finish included.   Private front entry door, parking directly in front of your suite, private stairway to your own private basement space and an almost halving of the price per square foot when you include the basement square footage make this space the best value anywhere along the 120th corridor.  Custom finishes for your business can include whatever is appropriate for Computer,  Medical,  Retail, Law Office, Apparel, Flower, Mortgage, Financial, Real Estate or almost  any other permitted use.

Suite 107:  $2,646 +/- sq ft - $5,512 per month - With basic tenant finish included.  Private front entry door, parking directly in front of your suite, private stairway to your own private basement space and an almost halving of the price per square foot when you include the basement square footage make this space the best value anywhere along the 120th corridor.   This space is the entire main floor East side of the building, with multiple private outside entrances available, this space can be used for the business that wants exclusivity, privacy, and needs or wants a cement floored basement available for their private use as well.  Compare the total monthly costs of this space with a basement to any other space and you will see the FSG lease rate and basement bring the overall cost per square foot of USEABLE space substantially lower than any other retail or medical space available!


Additional Tenant Finish or build out requirements:

Please note, we can build out almost any finish for your business and have it ready within 30 to 60 days.  Just let us know what it is that you are looking for, what is on your wish list, and what type of space your business needs or requires to function at its best.  We will meet your needs!


Offered Exclusively by Surety Realty Inc

Stuart Dobson
303.919.0309 direct
Stuart@suretyrealty.com


Jason Pavlovic
303.667.1622 direct
Jason@suretyrealty.com

Wanting to purchase Downtown Denver condo

We have a client that has lots of cash but do to being self employed and owning too many properties (both residential and commercial) is unable to secure a mortage.  They are looking for a downtown Denver condo near Coors Field.  Their requirements are:

• Approximately 1,250 sq ft or larger.
• Within walking distance of ballpark.
• Two parking spaces, or one plus one that can be leased for an additional fee.
• Two bedroom, two bath.
• Less than $400k
• Owner willing to carry financing with 20% down payment.
• or, wrap financing arrangement for underwater condo.
• View of either the mountains or city is preferable.

Wrap financing will have to be reviewed by atorneys, and an owner carry arrangement we would prefer a 15 year term.  The buyer is very solid financially and has excellent credit.  If you have anything that you think may fit these paremeters or is close, please contact us so that we can schedule a viewing.

The buyer is able to purchase quickly.

thank you,

Stuart Dobson
Stuart@SuretyRealty.com
303.919.0309 cell

Denver Real Estate Broker

Live Work Space for Lease in Denver.

There are very few live/work spaces for lease in the Denver Metro area.  Especially cheap ones that make sense for someone starting a new business or expanding out of their home for the first time.  Located at 4640 Pecos Street in Denver, basically at the intersection of Pecos Street and I-70, the space offers very convenient quick access to I-70.

For this live work space the landlord is only asking $1,500 per month for approximately 1,550 sq ft on the first floor and 700 square feet on the second floor.  The upstairs has a full kitchen, bathroom with shower and two other rooms that can serve as bedrooms or smaller studios.  Complete with hardwood and tile flooring, the floor care is very low maintenance.  The lower lever has glass storefront, painted concret floor, a bathroom, and a small storage room in the back. 

The potential uses for this leasable space are endless.  Their is an upscale local winery and Quiznos located in the same building.  This space would make a great Dance studio, workout facility, Martial Arts school, or retail store.  Previously the space was used as a flower store.  The first floor has an ADA bathroom, spiral HVAC ductwork, fashionable open stair steel staircase to the second floor, and lots of power outlets.  The new Denver zoning is I-MX-3, or Industrial zoning in old Denver zoning code speak.  It can also be used for a motocycle store, auto repair, bicycle manufacturing, distillery, electronics, metal polishing, etc.

For additional information and to set and appointment to see the space, please contact:

Jason Pavlovic
Jason@SuretyRealty.com
303.667.1622 cell

Stuart Dobson
Stuart@SuretyRealty.com
303.919.0309 cell

Denver Commercial Real Estate Brokers

 

Building not leasing?  It might be your advertising

The small building leasing market is very active right now, and it has been for the last 3- 6 months.  The property has to be priced right, of course, but the amount of people and businesses looking for small industrial, office, and retail lease space is very high.

If your building space is not leasing and you have it priced correctly for this market, then you should be looking at your advertising.  Are you getting the traffic and showings that you think you should be getting?

We are leasing specialists and have leased over 10 small lease spaces successfully (under 4,000 sq feet) in just the last 90 days.  The lessees have ranged from Speech therapists, language instructors, attorneys, janitorial  services, property managers, insurance agents, massage therapists, and sports specialties businesses.

We are successful where other, sometimes larger brokerage firms are not due to our personal involvement, attention to detail, proprietary internet marketing skills, and hard work.  If  you would  like us to take a look at your property, we would be happy to give you an honest appraisal of the situation for leasing or even sale.


Stuart Dobson
Surety Realty Inc., Broker owner
Leasing Broker Extraordinare
303.919.0309 direct

Jason Pavlovic
Surety Realty Inc., Broker owner/managing broker
Leasing Broker Extraordinare
303.667.1622 direct

11521 Downing Street - Northglenn Home for Sale

This brand new ranch style home in Northglenn, CO is just up the street from Malley Elementary School.  With a long driveway, oversized garage with workshop, and all brick construction this house can be customized to fit the homeowners needs.

The interior features hardwood floors in the master suite, kitchen and living room and the almost new Maytag stainless steel appliances in the kitchen stay with the house.  The home has been upgraded and remodeled with an expanded master bedroom suite on the main level and a five piece bath.  The jetted tub in the master suite is fed by an oversized 60 gallon hot water heater so you will never run out of water for long hot baths.

Some picture of the home are below.  MLS# 954352




Listed exclusively by:

Stuart Dobson
Surety Realty Inc
Broker Owner
Northglenn Homes for sale
303.919.0309 direct

Jason Pavlovic
Surety Realty Inc
Broker Owner
303.667.1622 direct