Current Use by Public Records
- Lifestyle centers
Property Details for 8525-8545 Colfax Ave
- Year built
- 1958
- Lot size
- 0.86 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Squire Plaza, located at 8525-8545 W Colfax Ave in Lakewood, Colorado, presents a compelling investment opportunity. This 20,525 square foot shopping center, built in 1958 and renovated in 2017, boasts a 94.88% occupancy rate with 36 tenants. The property sits on a 0.86-acre lot and offers 90 parking spaces. Currently generating a Net Operating Income (NOI) of $254,454, resulting in a 7.74% capitalization rate, the asking price is $3,286,000 ($157.53 per square foot). The property benefits from a prime location on Colfax Avenue, a major Denver thoroughfare with high daily traffic volume exceeding 25,000 vehicles. This high-traffic location supports the diverse mix of retail and office tenants. A significant portion (90%) of the rent roll is comprised of gross leases, with a substantial number of lease expirations before the end of 2025, presenting a value-add opportunity for lease term extensions and conversions to triple-net (NNN) leases. The strong demographics of the surrounding area, with a population of 362,173 and an average household income of $104,882 within a 5-mile radius, further enhance the property's investment potential. The asking price is considered below replacement cost, making this a particularly attractive acquisition.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lakewood
- County
- Jefferson
- State
- Colorado
- Longitude
- -105.092
- Latitude
- 39.7404
