Current Use by Public Records
- Isalis / (Bike/Boat/Book/etc) Store
- Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
- Skunk Funk / Big Box & Wholesale Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store
Property Details for 20153 Smoky Hill Rd
- Year built
- 2002
- Lot size
- 6.43 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional Class A, 64,963 square foot shopping center in Centennial, Colorado, presents a compelling investment opportunity. Boasting a 100% occupancy rate with three corporate-guaranteed tenants, including a newly signed 15-year lease (with options) for a Vasa Fitness, the property offers a stable and secure income stream. The weighted average lease term stands at 11.8 years, providing long-term stability. Significant rent bumps are built into the leases, offering strong inflation protection. The property features 374 parking spaces and is situated on a 6.43-acre lot in a high-traffic area with over 45,000 vehicles per day. Built in 2002 and extensively renovated in 2022, the single-story building is zoned for commercial use and benefits from its location near affluent neighborhoods with high household incomes (average $159,993 within 1 mile, $449,639 median home value). The property's Net Operating Income (NOI) is $1,013,176, yielding a 7.02% cap rate at an asking price of $14,432,333 ($222 per square foot). This is a below-replacement-cost opportunity in a prime location, offering significant upside potential. The property's strategic location near the Denver Tech Center and Southlands Town Center further enhances its value and appeal. This is a fee-simple ownership opportunity with a triple-net (NNN) lease structure.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Centennial
- County
- Arapahoe
- State
- Colorado
- Longitude
- -104.752
- Latitude
- 39.6123
