12405 Mississippi Ave Aurora, CO 80012

Property Details for 12405 Mississippi Ave

Year built

1979

Lot size

6.82 lot acres

Property size

95,931 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional Aurora, Colorado shopping center presents a compelling investment opportunity. Boasting 95,931 square feet across five single-story buildings on a 6.82-acre lot, this property is currently 100% occupied by 24 tenants. Built between 1979 and 1984, and significantly renovated in 2018 (including over $1.3M in roof and HVAC replacements, plus $450,000 in parking lot, landscaping, and exterior improvements), the center offers exceptional stability. The property enjoys a prime location on East Mississippi Avenue, with high daily traffic counts (approximately 36,000 vehicles). Access is convenient, featuring multiple access points. The asking price is $12,500,000, representing an attractive 8.59% cap rate and a strong NOI of $1,073,318. Leases are primarily NNN, with most including a 15% administrative fee. Current rents range from $7.43 to $20.00 per square foot, averaging $11. The property is zoned B1 and offers significant upside potential through future rent bumps. This is a rare opportunity to acquire a well-maintained, high-performing retail asset in a thriving Colorado market, well below replacement cost.