Current Use by Public Records
- Lifestyle centers
Property Details for 710 Wapiti Ave
- Year built
- 2012
- Lot size
- 1.09 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a 15,846-square-foot retail property situated at 710 Wapiti Ave, Rifle, Colorado, 81650. The property boasts a fee-simple ownership structure and comprises a single, one-story building constructed in 2012 on a 1.09-acre lot. Currently, the center enjoys 100% occupancy with two tenants: AutoZone and Aaron's Furniture, both operating under triple-net (NNN) leases. AutoZone recently executed a ten-year lease extension, demonstrating strong commitment to the location. Aaron's also has several years remaining on their lease. The property benefits from a strong net operating income (NOI) of $195,998, resulting in a 7.29% cap rate and a price per square foot of $169.76. The asking price for this multi-tenant retail center is $2,690,000. The property's strategic location within Rifle's thriving commercial area, adjacent to Grand River Hospital (which recently underwent significant expansion), and near major retailers like Walmart and O'Reilly's, ensures high visibility and consistent traffic. Further enhancing its appeal, two residential developments totaling 86 new homes are under construction directly behind the property, promising increased foot traffic and future growth. The building is equipped with solar panels, minimizing operating expenses for tenants. Highways 70 visibility with traffic counts exceeding 19,000 vehicles daily adds to the property's desirability. This is a rare opportunity to acquire a well-positioned, high-performing retail investment in a rapidly growing Colorado market.
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
- Rifle
- County
- Garfield
- State
- Colorado
- Longitude
- -107.773
- Latitude
- 39.5222
