10101-10139 Colfax Ave Aurora, CO 80010

Property Details for 10101-10139 Colfax Ave

Year built

1953

Lot size

0.33 lot acres

Property size

13,500 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional multi-tenant retail property, located at 10101-10139 E Colfax Ave in Aurora, Colorado, presents a compelling investment opportunity. The 13,500 square foot building, constructed in 1953 and extensively renovated in 2023, sits on a 0.33-acre lot and features five units currently boasting 86% occupancy. The property offers a Net Operating Income (NOI) of $153,500, with a pro-forma NOI projected at $183,580, reflecting a potential for significant growth. The asking price is $2,299,000, representing a current cap rate of 6.68% and a pro-forma cap rate of 7.99%. The property is zoned OA-MS and includes 26 parking spaces, providing ample parking for tenants and customers. With a remaining lease term of four years on existing leases, and below-market rental rates with annual increases, this property offers a strong foundation for future income growth. The building's prime location on Colfax Avenue ensures high visibility and excellent signage opportunities. The property is easily managed, as demonstrated by the current owner's self-management. This is a rare opportunity to acquire a well-maintained, multi-tenant retail property in a thriving location with significant upside potential. The property's net rentable square footage is 13,355 square feet, with a price per square foot of $170.30. The Adams County location and the property's features make this an attractive investment. The property's address is 10101-10139 E Colfax Ave, Aurora, CO 80010, with APN numbers 1823-34-4-27-006 and 1823-34-4-27-023. The lease type is NNN.

Location Insight

City

Aurora

County

Adams

State

Colorado

Longitude

-104.871

Latitude

39.7404