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The Shops at Gateway Park 15470 Andrews Dr 11,764 SF 100% Leased Retail Building Denver, CO 80239 $5,500,000 ($467.53/SF) 6.50% Cap Rate
Investment Highlights
- High Visibility Location - Hard corner intersection of East 40th Avenue and Chambers Road (~ 50,700 VPD) and .25 miles from I-70.
- Long-Term Occupancy History - Weighted-average historical occupancy of more than 22 years and the property has not had a vacancy in nearly 15 years.
- Exceptional Tenant Mix - 100% leased with service tenancy mix (food and beverage, personal care, and convenience retail).
Executive Summary
Marketing Description:
CBRE National Retail Partners – Mountain is pleased to offer the opportunity to acquire Shops at Gateway Park ("The Property"), an unanchored strip center located at a hard-corner, signalized intersection in the 1,200-acre Gateway Park multiuse development near Denver International Airport in Denver, Colorado.
The 11,764-square foot retail center is currently 100% triple-net leased to national and local tenants with long-term leases that feature annual increases and a rent roll that is bolstered by Qdoba, Subway, & Pizza Hut.
The Shops at Gateway Park, which has not incurred a vacancy in nearly 15 years, is located at the hard-corner, signalized intersection of Chambers Road and 40th Avenue
near Interstate-70. The Property and its tenants benefit from traffic counts that exceed 50,700 vehicles per day and 113,400 residents with average household incomes in excess of $103,700 in a three-mile radius. Notable retailers in the immediate trade area include Starbucks, Walmart, Taco Bell, and Circle K in addition to a number of residential communities and hotels that service travelers to and from nearby Denver International Airport.
Shops at Gateway Park is being offered free and clear of existing debt on an "as-is, where-is" basis.
CBRE National Retail Partners – Mountain is pleased to offer the opportunity to acquire Shops at Gateway Park ("The Property"), an unanchored strip center located at a hard-corner, signalized intersection in the 1,200-acre Gateway Park multiuse development near Denver International Airport in Denver, Colorado.
The 11,764-square foot retail center is currently 100% triple-net leased to national and local tenants with long-term leases that feature annual increases and a rent roll that is bolstered by Qdoba, Subway, & Pizza Hut.
The Shops at Gateway Park, which has not incurred a vacancy in nearly 15 years, is located at the hard-corner, signalized intersection of Chambers Road and 40th Avenue
near Interstate-70. The Property and its tenants benefit from traffic counts that exceed 50,700 vehicles per day and 113,400 residents with average household incomes in excess of $103,700 in a three-mile radius. Notable retailers in the immediate trade area include Starbucks, Walmart, Taco Bell, and Circle K in addition to a number of residential communities and hotels that service travelers to and from nearby Denver International Airport.
Shops at Gateway Park is being offered free and clear of existing debt on an "as-is, where-is" basis.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
11,764 SF
Building Class
B
Year Built
2000
Price
$5,500,000
Price Per SF
$467.53
Cap Rate
6.50%
NOI
$357,423
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.13
Lot Size
2.01 AC
Zoning
G-TW
Parking
77 Spaces (6.55 Spaces per 1,000 SF Leased)
Fairly walkable
40/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0203-01-006 | Improvements Assessment | $354,320 |
| Land Assessment | $354,320 | Total Assessment | $1,024,110 |
Property Taxes
Parcel Number
0203-01-006
Land Assessment
$354,320
Improvements Assessment
$354,320
Total Assessment
$1,024,110
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