1760 Briargate Blvd Colorado Springs, CO 80920

Property Details for 1760 Briargate Blvd

Year built

2014

Lot size

0.27 lot acres

Property size

380 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a 380-square-foot Starbucks located at 1760 Briargate Blvd, Colorado Springs, CO 80920. The property boasts a 5.10% cap rate and a strong net operating income (NOI) of $68,000. The building, constructed in 2014, sits on a 0.27-acre lot and benefits from a ground lease. The tenant, Starbucks, holds a single-tenant, NNN lease with a remaining term of 9.6 years, extending to June 30, 2034, with four 5-year renewal options. Rent escalations are built in, with a 9% increase on July 1, 2029, and a 10% increase in each subsequent renewal option. Starbucks, a credit-rated tenant (BBB+ by Standard & Poor's), demonstrates its commitment to this location with a recent 10-year lease extension. The property enjoys a prime outparcel location at Chapel Hills Mall, a regional shopping center with over 562,000 square feet of retail space and major anchors including Macy's, AMC Theaters, Dick's Sporting Goods, and Dillard's. Its signalized hard corner location on Briargate Boulevard (21,800 vehicles per day) provides excellent visibility and accessibility. The property also benefits from proximity to North Academy Boulevard (47,300 VPD) and Interstate 25 (131,500 VPD), further enhancing its strategic position within a dense retail corridor. The surrounding area boasts a strong demographic profile, with over 206,000 people residing within a five-mile radius and an average household income exceeding $122,000. This presents a compelling investment opportunity with significant upside potential. The asking price is $1,333,333, resulting in a price per square foot of $3,508.77.