1002 Main St Lamar, CO 81052
- Retail properties
- 2,364 SF
- 0.80 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1002 Main St
- Year built
- 2024
- Lot size
- 0.80 lot acres
- Property size
- 2,364 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee-simple ownership of a brand-new Arby's restaurant in Lamar, Colorado. The property boasts a 20-year absolute NNN lease with four 5-year renewal options, ensuring long-term stability and predictable cash flow. The lease commenced December 1st, 2024, and includes attractive 3% annual rent increases, mitigating inflation risks. The 2,364 square foot building sits on a 0.8-acre lot with 31 parking spaces, strategically located at a signalized intersection on Main Street, a major retail thoroughfare with over 20,000 vehicles daily. This high-visibility location benefits from proximity to significant retail anchors including Walmart, Safeway, McDonald's, and Sonic, creating a strong synergy and high consumer traffic. The property's location within Lamar's primary retail corridor, alongside other national tenants like Tractor Supply Co., Family Dollar, and O'Reilly Auto Parts, further enhances its appeal. The 5-mile trade area boasts a population exceeding 8,500 with an average household income of $71,799. The property's strong demographics, coupled with the long-term lease and built-in rent escalations, offer a compelling investment with a 6.30% cap rate and a current NOI of $255,000. The asking price is $4,050,000, representing a price per square foot of $1,713.20. This is a truly management-free investment opportunity with zero landlord responsibilities. The property's APN is 200026091.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lamar
- County
- Prowers
- State
- Colorado
- Longitude
- -102.618
- Latitude
- 38.0992
