Granada Park Shopping Center
For Sale
Contact for pricing
Pending
15401 E Mississippi Ave, Aurora, CO 80017
Fully occupied Aurora shopping center with strong tenant longevity.
Property Size70,955 SF
Days on Market203
Property Features for 15401 E Mississippi Ave
General Information
Standard status
Pending
Size
70,955 SF
Class
B
Property subtype
Retail
Zoning
MU-C (Mixed-Use Corridor District)
Occupancy
100%
Lease Type
NNN
Investment Type
Core+
Building Details
Year Built
1982
Buildings
1
Stories
1
Units
8
Tenancy
Multi
Listing Agency:
JLL - Denver, Colorado
Listed By:
Austin Snedden · License #FA100080083
Source:
Crexi
Added: Feb 1
Changed: Aug 8
Last Checked: Jul 25 at 9:36AM
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 JLL - Denver, Colorado
Investment Insights
Based on property information with market context.
Granada Park is a 70,955 square foot neighborhood shopping center located off of S Chambers Road and E Mississippi in Aurora, Colorado. The center is 100% occupied and has a weighted average lease term of 7.5 years. The site attracts over 1.7M visitors annually. The 8-tenant shopping center sits directly across from King Soopers. The property is surrounded by major national retailers, including Walmart, Sam’s Club, Target, and Best Buy, all within a 1-mile radius. The investment is supported by dense residential neighborhoods, with nearly 400,000 people in a 5-mile radius and an average household income approaching $100,000.
Key Highlights
- 100% Occupancy with a weighted average lease term of 7.5 years provides immediate and stable income.
- Located directly across from King Soopers, Colorado's #1 Grocer, driving significant customer traffic.
- High visibility and accessibility attract over 1.7 million visitors annually.
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
$899,844
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
8.18%
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%
$17,996,880
$18.0M
Cap Rate 7%
$12,854,914
$12.9M
Cap Rate 9%
$9,998,267
$10.0M
Market Conditions
NOI Build-Up for 70,955 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
$1.40M $19.80/SF
− Vacancy
−$119.4K −$1.68/SF
EGI
$1.29M $18.12/SF
− OpEx
−$385.6K −$5.44/SF
NOI
$899.8K $12.68/SF
Area
Aurora, CO
Vacancy
8.50%
Lease Rate
$19.80 /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%
$17,996,880
Cap Rate 7%
$12,854,914
Cap Rate 9%
$9,998,267
Alternative Uses
Best Use
Retail
$12.85M
$11.25M – $15.00M
NOI $899,844 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$19.83M
$17.35M – $23.13M
NOI $1,387,880 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
877
Businesses Nearby
234k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Shops & Services 26%
Groceries 25%
Apparel 7%
King Soopers
Groceries
57,566 visits/mo
0.2 miles
McDonald's
Dining
26,484 visits/mo
0.0 miles
Dollar Tree
Shops & Services
23,205 visits/mo
0.1 miles
Taco Bell
Dining
16,469 visits/mo
0.1 miles
Wendy's
Dining
15,202 visits/mo
0.1 miles
Demographics for 80017, CO
37,637
Population
14,810
Households
2.5
Avg Household Size
33
Median Age
24%
College-Educated
84%
High-School Grad
9.2 sq mi
ZIP Area
4,091
Density / Sq Mi
$76,458
Median Household Income
$42,126
Median Earnings
$1,755
Median Rent
$383,700
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?
Shopping center - Fully occupied Aurora shopping center with strong tenant longevity.
Where is this shopping center located?
The property is located at 15401 E Mississippi Ave Aurora, CO.
What is the asking price?
The asking price for this property is $11,000,000.
What are key features of this property?
This property features: 100% Occupancy with a weighted average lease term of 7.5 years provides immediate and stable income.; Located directly across from King Soopers, Colorado's #1 Grocer, driving significant customer traffic.; High visibility and accessibility attract over 1.7 million visitors annually.
