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10030 W 27th Ave
Wheat Ridge, CO 80215
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- One of only five dispensary licenses in Wheat Ridge
- High Traffic Counts on Kipling and High Surrounding Demographics
- New Roof in 2019
- Grandfathered MMJ sales adjacent to the park
- Fenced Storage in Rear & Ample Parking
EXECUTIVE SUMMARY
Rare opportunity to acquire a stabilized, pride-of-ownership commercial asset in Wheat Ridge, Colorado. This 4,795 SF freestanding building sits on a 24,829 SF lot and is zoned C-1, featuring one of only five dispensary licenses in the city. The property benefits from a grandfathered zoning allowance permitting MMJ sales adjacent to a public park—a use that is no longer easily replicated. The tenant, Trees (treescann.com), a publicly traded multi-state cannabis company, has signed a new 5-year NNN lease at $21.52/SF ($8,600/month + NNN) with 3% annual increases and two 5-year renewal options. Landlord responsibilities are limited to the roof and foundation, with the roof replaced in 2019. While the tenant currently purchases its product from wholesalers, the building contains space suitable for small-scale cultivation, which the tenant plans to utilize for R&D and additional storage. There is also a fenced outdoor storage area at the rear of the property, further enhancing functionality and flexibility for the tenant.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
High Vacancy Property
Property Type
Building Size
4,898 SF
Building Class
B
Year Built
1964
Price
$1,285,000
Price Per SF
$262.35
Cap Rate
8.03%
NOI
$103,186
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
0.57 AC
Zoning
C-1
Parking
30 Spaces (6.26 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 39-284-21-007 | Improvements Assessment | $179,770 |
| Land Assessment | $86,591 | Total Assessment | $266,361 |
PROPERTY TAXES
Parcel Number
39-284-21-007
Land Assessment
$86,591
Improvements Assessment
$179,770
Total Assessment
$266,361
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