498 Sparn St Grand Junction, CO 81501-5000

Property Details for 498 Sparn St

Lot size

0.75 lot acres

Zone code

C-1

Property type

Commercial land

APN

2943-181-22-001

APU

294318122001

Description

This exceptional investment opportunity presents a newly constructed, 950-square-foot Dutch Bros. Coffee drive-thru located at 498 Sparn St, Grand Junction, CO 81501. The property sits on a 0.74-acre lot and boasts a 15-year absolute NNN lease commencing December 31, 2024, and expiring December 31, 2039, with a remaining term of 15.1 years. The lease includes a corporate guarantee and features 10% rent increases every five years, ensuring consistent income growth. The property's strong financial performance is reflected in its 5.10% cap rate and a Net Operating Income (NOI) of $137,009. Built in 2024, this single-tenant building enjoys 100% occupancy. Grand Junction's thriving economy, fueled by tourism, agriculture, and energy sectors, combined with a population exceeding 72,000 within a 3-mile radius and an average household income exceeding $74,000 within the same area, makes this a highly desirable location. The property benefits from its proximity to Colorado Mesa University (10,000+ students) and high daily traffic counts exceeding 32,000 vehicles. The lease includes three, 5-year renewal options, further enhancing the long-term value of this investment. This fee-simple ownership offers a secure, management-free investment opportunity with significant upside potential.