462-478 Malley Dr - Storefront FOR SALE


Northglenn, CO 80233
$3,874,000 USD
720-966-1630
462-478 Malley Dr, Northglenn, CO for Sale
$3,874,000 USD
Storefront - FOR SALE
1/5
null | 9% Cap Rate

462-478 Malley Dr
Northglenn, CO 80233


HIGHLIGHTS

  • Entirely NNN leases offering passive ownership
  • 100% occupied by e-commerce-resistant, service-based tenants
  • 1.1M annual visitors to the entire center (source: Placer.ai)
  • Weighted Average Lease Term (WALT) of 6.9 years
  • High traffic counts along Malley Dr (15,190 VPD) and Washington St (31,282 VPD)
  • Affluent and densely populated area, 147,168 people live within 3 miles and have average household incomes of ~$117,000

OVERVIEW

Blue West Capital is pleased to offer for sale the Northgate Shopping Center located in Northglenn, CO. This offering includes a 14,472-square-foot building made up of six e-commerce-resistant, service-based tenants. This stabilized investment property offers passive ownership through a rent roll consisting of entirely triple-net leases with a weighted average lease term of 6.9 years. Positioned at the southeast corner of Malley Dr (15,190 VPD) and Washington St (31,282 VPD), the center sees over 1.1 million annual visitors (source: Placer.ai). A dominant cannabis tenant, The Green Solution, occupies 44% of the GLA and has impressive 2.1% Rent-to-Gross Sales and (~9x) EBITDAR-to-Rent ratios. An annual average rental increase of 2.65% across the rent roll annually ensures consistent rental growth hedging against market inflation and driving additional value to the center. Northglenn is located just 10 miles north of downtown Denver. Interstate 25 splits the city and connects Northglenn to Denver to the south and Fort Collins to the north. An affluent and densely populated area, 147,168 people live within 3 miles of the property and have average household incomes of ~$117,000.

FOR SALE DETAILS

PRICE

$3,874,000 USD

PRICE/SF

$268 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Northgate Shopping Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

125

LAND DETAILS

LAND ACRES

2.14 AC

LAND SF

93,218 SF

ZONING

CG - Commercial General

APN/PARCEL ID

1719-03-4-09-022

ASK ABOUT THIS PROPERTY

Robert EdwardsBlue West Capital, LLC.More Info
720-966-1630

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Robert EdwardsBlue West Capital, LLC.More Info
720-966-1630

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