Current Use by Public Records
- Lifestyle centers
Property Details for 462-478 Malley Dr
- Year built
- 1978
- Lot size
- 2.14 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 14,472 square-foot shopping center in Northglenn, Colorado presents a compelling investment opportunity. Boasting a 100% occupancy rate across six tenants, all operating under triple-net (NNN) leases, this stabilized property offers passive ownership with minimal management responsibilities. The weighted average lease term stands at 6.9 years, providing long-term income security. Annual rental increases average 2.65%, effectively hedging against inflation. Situated on a 2.14-acre lot at a high-traffic intersection (Malley Dr and Washington St, with 15,190 and 31,282 vehicles per day respectively), the center benefits from over 1.1 million annual visitors. A major tenant, a cannabis dispensary, occupies 44% of the gross leasable area (GLA) and exhibits strong financial performance. The property's location within a densely populated, affluent area (147,168 residents within 3 miles, average household income ~$117,000) further enhances its appeal. Built in 1978, the property is zoned CG - Commercial General. The asking price is $3,874,000, representing a 9.00% capitalization rate and a price per square foot of $267.69. The Net Operating Income (NOI) is $348,699. The property consists of seven units. This is a rare opportunity to acquire a stable, high-performing retail investment in a prime location.
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
- Northglenn
- County
- Adams
- State
- Colorado
- Longitude
- -104.981
- Latitude
- 39.9024
