Current Use by Public Records
- Retail properties & Spaces
Property Details for 112 Garfield Ave
- Property type
- Retail properties & Spaces
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a 9,100 square foot Dollar General store in Moffat, Colorado, listed at $1,410,000 with a 6.50% cap rate. The property, built in 2019, boasts a prime location at the intersection of Colorado Highway 17 and Garfield Ave, serving as the sole retail outlet for a significant radius. The absolute NNN lease, with zero landlord responsibilities, features a 15-year initial term and three 5-year renewal options, each with a 10% rent increase. The lease is corporately guaranteed by Dollar General Corporation, a Fortune 500 company (ranked 108th) with an investment-grade S&P credit rating of "BBB". This strategically positioned store benefits from high visibility and caters to a captive market, given the nearest alternative retail store is 37 miles away in Alamosa. The property's strong tenant, long-term lease, and minimal management requirements make it an attractive investment with significant potential for future growth. The asking price per square foot is $154.95. This is a low-maintenance, newly constructed building offering a secure and profitable investment opportunity. The current lease has 11 years remaining on the initial term.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Moffat
- County
- Saguache
- State
- Colorado
- Longitude
- -105.909
- Latitude
- 37.9932
