701 Baptist Rd Colorado Springs, CO 80921-2454

Property Details for 701 Baptist Rd

Lot size

0.73 lot acres

Zone code

PUD

Property type

Commercial land

APN

7136201009

APU

7136201009

Description

This exceptional investment opportunity presents a newly constructed (2024), 4,500 square foot, single-tenant retail building in Monument, Colorado. The property boasts a 10-year net lease with Sherwin-Williams, a corporate guarantor with a BBB credit rating and over $23 billion in annual revenue (2023). The lease features built-in rent bumps of 10% every five years (except for a 5% increase in the first option period), providing excellent inflation protection. Situated on a 0.73-acre lot with 23 parking spaces, the building benefits from high visibility on Baptist Road (approx. 19,000 vehicles per day) and proximity to I-25 (approx. 100,000 vehicles per day). The location is within The District, a thriving 2,600-acre master-planned community with significant residential and commercial development, including a King Soopers-anchored shopping center, a Walmart Supercenter, Home Depot, Kohl's, and Petsmart. The property also enjoys close proximity to the US Air Force Academy and Lewis-Palmer High School, serving a highly affluent area with average household incomes exceeding $207,000 within a 5-minute radius. The property includes a new 15-year roof warranty transferable to the new owner. The asking price is $3,410,000, representing a 5.50% cap rate and a Net Operating Income (NOI) of $187,500. Four, 5-year lease options are available, extending the lease term to 2034. This is a rare opportunity to acquire a high-quality, net-leased retail property in a rapidly growing market.