1990 Academy Blvd Colorado Springs, CO 80916-4504

This exceptional investment opportunity presents a fee-simple, 24,625 square foot Big Lots convenience and grocery store located at 1990 S Academy Blvd, Colorado Springs, CO 80916. The property boasts a 20-year absolute NNN lease with a corporate guarantee from Big Lots, Inc. (NYSE: BIG), ensuring consistent cash flow. The lease includes a favorable 2% annual rent increase, providing significant long-term income growth. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $191,955, representing a 6.25% cap rate on the asking price of $3,071,278 ($124.72/sq ft). The property sits on a 24,625 square foot lot and is offered as a 1031 exchange opportunity. Situated in a high-traffic area with strong demographics (average household income exceeding $86,100 within three miles and $93,000 within five miles), this property offers exceptional value and potential for future redevelopment due to its large lot size and favorable zoning. The property is free and clear of financing, allowing investors to leverage current market conditions for advantageous financing options. This is a rare opportunity to acquire a high-performing, well-located retail asset with significant long-term growth potential.