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2050 Southgate Rd 145,270 SF Retail Building Colorado Springs, CO 80906 $6,955,500 ($47.88/SF) 7.40% Cap Rate
Investment Highlights
- 9-Yrs Left on Corporate NN Lease with Two 5-Yr Renewal Options
- Newly Renovated in 2023 | Big R Corporate Guarantee
- Located Just South of Downtown Colorado Springs | 2 Miles from the Internationally Renowned Broadmoor Resort
- Recession-Proof Farm and Ranch Sporting Goods Retailer
- Premier Broadmoor Towne Center Location | Surrounded by National Tenants
Executive Summary
As the Exclusive Agent for the seller, SVN Denver is proud to present this long-term single-tenant investment opportunity. The subject property is located in the popular Broadmoor Towne Center with 9 years +/- remaining on the lease with Big R, which operates 39 successful locations across CO, NM, KS, OK, and TX. Big R's initial rent/sf is below market, currently at $11/sf. National tenants adjacent to the property include Home Depot, Ross, PetSmart, Michael’s, Red Robin, Chipotle, Ulta, and Old Navy.
The subject Big R is located in the popular Broadmoor Town Center at the SWC of Nevada Ave (aka CO Hwy 115) & Lake Ave, averaging over 60,000 vehicles per day, just east of I25 in Southeast Colorado Springs. The Broadmoor Towne Center is the premier shopping destination near the legendary 5-star/5-diamond Broadmoor resort.
The subject Big R is located in the popular Broadmoor Town Center at the SWC of Nevada Ave (aka CO Hwy 115) & Lake Ave, averaging over 60,000 vehicles per day, just east of I25 in Southeast Colorado Springs. The Broadmoor Towne Center is the premier shopping destination near the legendary 5-star/5-diamond Broadmoor resort.
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- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
145,270 SF
Building Class
C
Year Built/Renovated
1959/2023
Price
$6,955,500
Price Per SF
$47.88
Cap Rate
7.40%
NOI
$514,707
Tenancy
Single
Building Height
1 Story
Building FAR
0.34
Lot Size
9.74 AC
Zoning
C5
Parking
400 Spaces (8.58 Spaces per 1,000 SF Leased)
Frontage
505’ on Southgate Rd
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signalized Intersection
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $2,519,300 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,519,300
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2050 Southgate Rd
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