Cabela's and Bass Pro Retail
For Sale
Contact for pricing
10670 Cabela Drive, Lone Tree, CO 80124
Four fee-simple retail assets are offered with absolute NNN leases and no landlord responsibilities.
Property Size402,454 SF
Price / SF$320.18
Days on Market141
Property Features for 10670 Cabela Drive
General Information
Standard status
Active
Size
402,454 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$7,731,419
Building Details
Buildings
4
Tenancy
Single
Listing Agency:
Thomas Company
Listed By:
Jeffrey Thomas · License #WA 116180
Source:
Crexi
Added: Apr 13
Changed: Aug 30
Last Checked: Aug 31 at 3:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Thomas Company
Investment Insights
Based on property information with market context.
This retail portfolio includes four large-format properties totaling 402,454 square feet across four states. The collection comprises three Cabela’s stores and one Bass Pro Shops location, with each asset held fee simple, including both land and improvements.
The properties are subject to absolute triple-net leases with approximately 16 years of remaining lease term. Under the stated structure, landlord responsibilities are eliminated. The assets may be acquired together or separately, providing flexibility for buyers evaluating a multi-property retail portfolio or individual locations.
The properties are subject to absolute triple-net leases with approximately 16 years of remaining lease term. Under the stated structure, landlord responsibilities are eliminated. The assets may be acquired together or separately, providing flexibility for buyers evaluating a multi-property retail portfolio or individual locations.
Key Highlights
- Four‑property retail portfolio totaling 402,454 square feet
- Three Cabela’s locations and one Bass Pro Shops property
- Fee‑simple ownership includes land and improvements
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,290,177
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$165,803,540
$165.8M
Cap Rate 7%
$118,431,100
$118.4M
Cap Rate 9%
$92,113,078
$92.1M
Market Conditions
NOI Build-Up for 402,454 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$12.12M $30.12/SF
− Vacancy
−$278.8K −$0.69/SF
EGI
$11.84M $29.43/SF
− OpEx
−$3.55M −$8.83/SF
NOI
$8.29M $20.60/SF
Area
Douglas County, CO
Vacancy
2.30%
Lease Rate
$30.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$165,803,540
Cap Rate 7%
$118,431,100
Cap Rate 9%
$92,113,078
Alternative Uses
Best Use
Retail
$118.43M
$103.63M – $138.17M
NOI $8,290,177 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$138.24M
$120.96M – $161.27M
NOI $9,676,475 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
Explore this area
Business Placement
Demographics for 80124, CO
22,541
Population
10,167
Households
2.2
Avg Household Size
38
Median Age
67%
College-Educated
98%
High-School Grad
9.4 sq mi
ZIP Area
2,398
Density / Sq Mi
$126,775
Median Household Income
$76,215
Median Earnings
$2,055
Median Rent
$726,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Four fee-simple retail assets are offered with absolute NNN leases and no landlord responsibilities.
Where is this retail space located?
The property is located at 10670 Cabela Drive Lone Tree, CO.
What is the asking price?
The asking price for this property is $128,856,975.
What are key features of this property?
This property features: Four‑property retail portfolio totaling 402,454 square feet; Three Cabela’s locations and one Bass Pro Shops property; Fee‑simple ownership includes land and improvements
