Overview
Freestanding Retail Investment Opportunity
This freestanding, single-tenant retail property is fully occupied by Famous Dave’s, which has been operating under an absolute net lease for over 14 years. The lease has more than six years of remaining term, with four additional five-year renewal options. Scheduled rent escalations occur every five years, with the next increase set for 2026. The property benefits from exceptional visibility and high traffic counts exceeding 78,000 vehicles per day on East Arapahoe Road, and over 50,000 vehicles daily on South Parker Road. The tenant, Famous Dave’s, is owned by MTY Food Group Inc, a Canadian franchisor that operates more than 43 brands of quick service, fast casual dining, and casual dining restaurants. The property is an outparcel in Cornerstar Shopping Center, whose anchor tenants include Target, Marshalls, Home Goods, Ross, Old Navy, Five Below, Nike, Urban Air, Sierra, and Ulta. Other outparcel tenants include Freddy’s Frozen Custard & Steakburgers, Five Guys Burgers, Cheddar’s Scratch Kitchen, Cold Stone Creamery, Bellco Credit Union, AT&T, Floyd’s 99 Barbershop, Chipotle, Marco’s Pizza, European Wax Center, MrEyeDr, Runners Roost, Red Robin & CD’s Wings. The property contains 6,772 square feet.
