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12244 E 44th Ave 12,100 SF 100% Leased Retail Building Denver, CO 80239 $4,230,000 ($349.59/SF) 7.50% Cap Rate
Investment Highlights
- New 20-year House of Spirits leaseback with scheduled rent increases
- 100% leased, two-tenant strip center built in 2013 on a 1.43-acre corner parcel
- Supported by nearby major national tenants including La Quinta Inn, Best Western, Hilton, McDonald's, and Popeyes Louisiana Kitchen
- Real De Minas is an established local operator with four Denver locations and a 5-year renewal option
- Visibility off I-70 at 219,000 vehicles per day with first-turn access off Peoria Street exit ramp at nearly 52,000 vehicles per day
- 135,000+ daytime employees within five miles with site-adjacent hotels driving consistent demand
Executive Summary
Blue West Capital is pleased to offer for sale a 100% leased, two-tenant NNN retail center at 12244 E 44th Ave in Northeast Denver, anchored by a new 20-year House of Spirits sale-leaseback with 2% annual rent increases. The stabilized, 2013-built center totals 12,000 square feet, with the liquor store anchor occupying 62.5% of the building and an established local Mexican restaurant operator in the balance, carrying a weighted average lease term of approximately 12.7 years.
Property Facts
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Building Size
12,100 SF
Building Class
B
Year Built
2013
Price
$4,230,000
Price Per SF
$349.59
Cap Rate
7.50%
NOI
$317,250
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.19
Lot Size
1.43 AC
Opportunity Zone
Yes
Zoning
B-4
Parking
100 Spaces (8.26 Spaces per 1,000 SF Leased)
Frontage
572’ on East 44th Avenue
Fairly walkable
40/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 1243-00-022 | Improvements Assessment | $336,500 |
| Land Assessment | $336,500 | Total Assessment | $1,130,110 |
Property Taxes
Parcel Number
1243-00-022
Land Assessment
$336,500
Improvements Assessment
$336,500
Total Assessment
$1,130,110
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12244 E 44th Ave