30403 Kings Valley Dr
Conifer, CO 80433
Kings Valley Marketplace · Retail Property For Sale

Marcus & Millichap is proud to present to qualified investors, Kings Valley Marketplace, an approximate 58,473-netleasable-square-foot Retail and Commercial Center located in Conifer, CO. Constructed in 2008 on 6.1 acres fronting Highway 285, Kings Valley has immediate access off Highway 285 via ingress and egress turn lanes from both directions. Kum & Go Gas and Convenience Store is highly visible right on Highway 285, offering eight gas pump stations and a 3,411-square-foot convenience store. The four major tenants at Kings Valley consist of Kum & Go, 3,411 square feet plus ground, Forest Service, 6,037 square feet, Conexsmart, 14,023 square feet, and Kings Emporium having 11,925 square feet. These four tenants total 35,396 net rentable square feet or 62 percent of the center. They all have rent escalators built into their leases. Kum & Go has 86 years left on a 100-year lease, Forest Service has six years left on a 10-year (firm) lease, Conexsmart has nine years remaining and the Emporium has four years remaining. Sixty percent of the net rentable space is on NNN leases. The Forest Service and Kum & Go are on modified gross leases with annual rent adjustments. All tenants pay their own heat and lights direct. The future upside of this investment cannot be overstated. Several tenants at Kings Valley are substantially below market. The overall rental market is very tight as well, with strong barriers to entry for any new construction. The overall vacancy in this submarket is less than five percent. Kings Valley is currently 100 percent leased with a waiting list for new tenants, as well as expansion space for several existing tenants in process. There is approximately 2,200 square feet of executive suites that accommodate seven tenants at present, 100 percent leased, which is Master-Leased for three years, by Lone Tree Property Management Services, an affiliated company of the seller. Lone Tree Management Services will continue to manage and operate the executive suites with no responsibility to the landlord. Offering 100 percent occupancy, several below-market rents, stable tenancy and substantial upside in converting a few leases to triple net, Kings Valley Marketplace should provide an investor with a very stable, profitable investment opportunity.