1955 Sheridan Blvd Denver, CO 80227-3715

Property Details for 1955 Sheridan Blvd

Year built

2011

Construction

STEEL FRAME

Lot size

6.01 lot acres

Property size

60,660 SF

Zone code

S-CC-3X

Property type

Retail properties

APN

04251-00-089-000

APU

425100089000

Description

This exceptional investment opportunity presents a 60,660 square foot, free-standing Vasa Fitness center in Denver, CO, situated on a 6-acre lot. The property boasts a strong financial profile, including a 7.00% cap rate and a substantial NOI of $954,498. The current lease with Vasa Fitness, a top-performing location within their system, has a remaining term of approximately 14.1 years (expiring 12/28/2038), commencing 12/29/2017, with two 5-year renewal options and 10% rental increases every 5 years. The asking price is $13,640,000, translating to a price per square foot of $224.86. An assumable CMBS loan with a 4.88% fixed rate and a balance of roughly $7.4 million matures on 6/1/2029. The property includes a KeyBank ATM pad site adding approximately $26,400 in annual NOI. Built in 2017, the facility underwent a complete renovation and includes an 8-year remaining warranty on a 10-year roof. This location benefits from its position in a densely populated area of Southwest Denver, approximately 5.5 miles from downtown, with a population of 386,065 within a 5-mile radius and 160,500 within a 3-mile radius. Vasa Fitness is a rapidly growing national tenant, currently among the top 20 largest health club operators in the country. This is a top-performing Vasa location, ranking #1 in total membership and revenue, and #2 in EBITDA within the Vasa system.

Location Insight

City

Denver

County

Denver

State

Colorado

Longitude

-105.055

Latitude

39.6812

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments