20153 Smoky Hill Rd Centennial, CO 80015

Property Details for 20153 Smoky Hill Rd

Year built

2002

Lot size

6.43 lot acres

Property size

64,953 SF

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.

Location Insight

City

Centennial

County

Arapahoe

State

Colorado

Longitude

-104.752

Latitude

39.6123