12405 E Mississippi Ave - Retail FOR SALE


Aurora, CO 80012
$12,500,000 USD
720-318-9454
12405 E Mississippi Ave, Aurora, CO for Sale
$12,500,000 USD
Retail - FOR SALE
1/14
null | Request Cap Rate

12405 E Mississippi Ave
Aurora, CO 80012


HIGHLIGHTS

  • Salem Square is currently 100% leased to 24 tenants.
  • The property caters to the diverse and dense population in the area.

OVERVIEW

It is located on East Mississippi Avenue in the City of Aurora, Colorado. The property caters to the diverse and dense population in the area. Approximately 36,000 vehicles per day pass the property on East Mississippi Avenue daily. Access to the property is provided by one full access point and one right in right out on East Mississippi Avenue and three full access points on South Salem Street on the east side of the property. Salem Square is a neighborhood shopping center totaling approximately 95,931 square feet. It is located on East Mississippi Avenue is the City of Aurora, Colorado. Approximately 36,000 vehicles per day pass the property on East Mississippi Avenue every day. Access to the property is provided by one full access point and one right in-right out on East Mississippi Avenue as well as three full access points on South Salem Street on the east side of the property. Salem Square was constructed between 1979 and 1984. The Seller has made nearly $450,000 of capital improvements since July 2018; approximately $300,000 parking lot, $80,000 landscape and $70,000 exterior paint. In addition, the seller has replaced all roofs and a majority of RTU’s at a cost excessing $1,300,000. The property consists of 5 one story buildings situated on a site of approximately 6.8 acres. Current in place rents range from $7.43 per square foot to approximately $20.00 per square foot with an average of $11.72. All leases are NNN with the exception of one tenant and most include a 15% admin fee. Offered well below replacement cost, Salem Square offers a savvy investor the opportunity to acquire a well-positioned, stable asset.

FOR SALE DETAILS

PRICE

$12,500,000 USD

PRICE/SF

$1,168 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

35

LAND DETAILS

LAND ACRES

0.88 AC

LAND SF

38,385 SF

ZONING

-

APN/PARCEL ID

1973-13-3-20-014

ASK ABOUT THIS PROPERTY

Mark PymsPanorama Commercial GroupMore Info
720-318-9454

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Mark PymsPanorama Commercial GroupMore Info
720-318-9454

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.