519 Ligrani Ln Grand Junction, CO 81505-1669

Property Details for 519 Ligrani Ln

Year built

2010

Construction

WOOD

Lot size

0.93 lot acres

Property size

4,743 SF

Zone code

C-2

Property type

Flex space

APN

2945-103-37-013

APU

294510337013

Description

This exceptional investment opportunity presents a 4,743 square foot, single-tenant, absolute triple-net (NNN) leased auto shop located at 519 Ligrani Ln, Grand Junction, CO 81505. The property, built in 2010 and situated on a 0.93-acre lot, is occupied by Brakes Plus, a brand of Mavis Topco, a large and established company with over 2,000 units. The current lease, commenced October 1, 2017, has a remaining term of 13.1 years, expiring December 31, 2037, and includes four 5-year renewal options. The lease features rent bumps and a corporate guarantee, providing significant security for the investor. The property boasts a strong net operating income (NOI) of $141,006, resulting in a 5.80% cap rate and a price per square foot of $512.54. The asking price is $2,431,000. This outparcel is strategically located within Rimrock Marketplace, a high-performing shopping center anchored by major retailers like Walmart, Lowe's, Sprouts, and Hobby Lobby, and benefits from excellent visibility on the I-70 Business Loop, experiencing 33,440 vehicles per day. The property's proximity to Mesa Mall and Grand Mesa Center, both high-performing shopping centers, further enhances its desirability. Future developments, including a new Costco entrance and Grand Junction Regional Airport expansion, promise continued growth in the area. This is a rare opportunity to acquire a well-positioned, high-performing retail investment with significant long-term potential.

Location Insight

City

Grand Junction

County

Mesa

State

Colorado

Longitude

-108.582

Latitude

39.0788

CBSA code

24300

CBSA name

GRAND JUNCTION, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments