1110 Neon Forest Cir Unit B 1110 Neon Forest Cir Unit B, Longmont, CO 80504

Property Description

Welcome to Prospect New Town, situated at the gateway between Boulder and Longmont. This is a Single Tenant NNN Opportunity that was constructed in 2010. This 1,031 square foot condominium allows for both retail and/or office space uses. The space has a large open area that the Tenant has divided into several design areas, ADA restrooms and a small office space. Please note, the Kitchen is for display purposes only and is not a working kitchen. Additionally, there is a one car garage for the space as well. There is currently a lease in place with Landsea Homes Corporation, who is using the building as their design center. Landsea Homes Corporation is a publicly traded company on the NASDAQ. The stock symbol is “LSEA”. Landsea has nearly a half a billion dollars in market value as of December 22, 2023. The rent for the property is $1,500 per month and the Tenant is responsible for all NNN expenses on an absolute net basis. Beginning on December 1st, 2024, the base rent increases to $1,625 per month plus all NNN expenses. The lease expires on November 30th, 2025. The lease extension does have a provision to allow the Tenant to have an early termination right with 4 months notice. During this four month period, the lease rate would increase to $2,250.00 per month.