Safeway Anchored Investment
For Sale
Contact for pricing
27152 Main St, Conifer, CO 80433
Safeway grocery store and gas station in Conifer, Colorado.
Property Size65,800 SF
Lot Size1.19 Acres
Price / SF$247.46
Days on Market194
Property Features for 27152 Main St
General Information
Standard status
Active
Size
65,800 SF
Lot size
1.19 Acres
Property subtype
Retail
Zoning
P-D
Building Details
Year Built
2006
Listing Agency:
SRS Real Estate Partners Newport Beach
(480) 221-4221
Listed By:
Patrick R. Luther, CCIM · License #01912215
Source:
Crexi
Added: Feb 9
Changed: Aug 8
Last Checked: Aug 8 at 6:39AM
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 SRS Real Estate Partners Newport Beach
Investment Insights
Based on property information with market context.
This offering features two corporate-signed Safeway investment properties in Conifer, Colorado, approximately 40 minutes from Denver. The properties include a 65,000-square-foot Safeway grocery store and a 1.19-acre gas station fuel pad. Safeway recently exercised their first renewal options on both leases, with over six years remaining on the current lease terms and nine remaining five-year options to extend. Both leases are structured as NNN with corporate signatures. In 2023, the grocery store underwent renovations and integrated the adjoining liquor store under the Safeway brand. The Safeway at Conifer Town Center ranks in the top 15% of grocery stores in the state by foot traffic. The property benefits from limited competition, with the next closest Safeway located more than 8 miles away and significant barriers to entry for new development in the trade area. Situated off U.S. Highway 285 (22,000 VPD), the property provides immediate grocery and gas station services for locals and highway travelers. It serves as the anchor tenant to Conifer Town Center, which features a diverse tenant lineup. Nearby tenants include Natural Grocers, Starbucks, Sonic, Staples, O’Reilly Auto Parts, and Anytime Fitness. The site is near Conifer Senior High School, increasing consumer traffic. The 5-mile trade area includes approximately 14,325 residents and 3,308 employees. Residents within 5 miles of the property have an average household income of $182,576.
Key Highlights
- Corporate‑signed Safeway (NYSE: ACI) with a 65,000 SF grocery store and gas station fuel pad for a secure investment.
- NNN leases with over six years remaining and nine (9) five‑year renewal options, offering a stable, low‑management investment.
- Located in affluent Conifer, CO, with a high average household income of $182,576 within a 5‑mile radius.
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
$1,273,822
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
7.82%
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%
$25,476,440
$25.5M
Cap Rate 7%
$18,197,457
$18.2M
Cap Rate 9%
$14,153,578
$14.2M
Market Conditions
NOI Build-Up for 65,800 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
$1.78M $27.00/SF
− Vacancy
−$78.2K −$1.19/SF
EGI
$1.70M $25.81/SF
− OpEx
−$424.6K −$6.45/SF
NOI
$1.27M $19.36/SF
Area
Jefferson County, CO
Vacancy
4.40%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
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%
$25,476,440
Cap Rate 7%
$18,197,457
Cap Rate 9%
$14,153,578
Alternative Uses
Best Use
Specialty Retail
$18.20M
$15.92M – $21.23M
NOI $1,273,822 @ 7.0% cap · market cap 7.82%
Second Best
Retail
$15.01M
$13.14M – $17.52M
NOI $1,050,975 @ 7.0% cap · market cap 6.45%
Theoretical Best
Multifamily LT 5
$146.43M
$128.13M – $170.83M
NOI $10,250,016 @ 7.0% cap · market cap 62.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
74k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 46%
Shops & Services 27%
Dining 26%
Beauty & Spa 1%
Safeway
Groceries
27,089 visits/mo
0.1 miles
Starbucks
Dining
10,329 visits/mo
0.2 miles
SONIC Drive In
Dining
9,090 visits/mo
0.2 miles
Safeway Gas
Shops & Services
7,209 visits/mo
0.2 miles
Stinker Station
Shops & Services
6,865 visits/mo
0.4 miles
Demographics for 80433, CO
8,209
Population
3,578
Households
2.3
Avg Household Size
48
Median Age
57%
College-Educated
98%
High-School Grad
66.5 sq mi
ZIP Area
123
Density / Sq Mi
$128,580
Median Household Income
$73,650
Median Earnings
$2,651
Median Rent
$697,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Safeway — 27152 Main St, Conifer, CO 80433
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Safeway grocery store and gas station in Conifer, Colorado.
Where is this grocery and convenience store located?
The property is located at 27152 Main St Conifer, CO.
What is the asking price?
The asking price for this property is $16,283,000.
What are key features of this property?
This property features: Corporate‑signed Safeway (NYSE: ACI) with a 65,000 SF grocery store and gas station fuel pad for a secure investment.; NNN leases with over six years remaining and nine (9) five‑year renewal options, offering a stable, low‑management investment.; Located in affluent Conifer, CO, with a high average household income of $182,576 within a 5‑mile radius.
