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607 Elberta Ave 9,240 SF Retail Building Palisade, CO 81526 $1,726,101 ($186.81/SF) 7.60% Cap Rate
Investment Highlights
- 1.75 Years of Guaranteed Lease Term (Lease Exp: 04/30/2028) | 2013 Construction | Build-to-Suit Dollar General 9,240 SF Building on 1.19 Acre Parcel
- Tenant Pays for ALL Operating Expenses, Insurance & Reimburses Property Taxes | Monument Signage | Construction Cost Estimated At $7.1 Million
- 1Mile: 2,817 Residents | $103,409 Avg House Income 3-Mile: 4,908 Residents | $111,801 Avg House Income 5-Mile: 9,218 Residents | $102,198 Avg House
- Three (3) - Five (5) Year Option Periods with 10% Rental Increases Absolute NNN Lease with ZERO Management Responsibilities. Brick & Stucco Exterior
- Grand Junction, CO | 12 Miles Montrose, CO | 66 Miles Aspen, CO | 117 Miles Denver, CO | 232 Miles Boulder, CO | 244 Miles Fort Collins, CO | 293 Mile
- US 6/Elberta Avenue Intersection (0.1 Miles from Subject Property) Being Improved Intersection Reconstructed Into a Concrete Modern Roundabout.
Executive Summary
Known as the "Peach Capital of Colorado," Palisade is located north of the Colorado River near Grand Junction. With a climate that yields a 182-day growing season, Palisade is renowned for its agriculture and has more than two dozen orchards and fruit farms, as well as 30 wineries. The town offers year-round recreational opportunities including skiing, hiking, biking, and rafting, as well as a walkable downtown with numerous shops and restaurants.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,240 SF
Building Class
B
Year Built
2013
Price
$1,726,101
Price Per SF
$186.81
Cap Rate
7.60%
NOI
$131,184
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.19 AC
Zoning
CB
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 2937-093-41-002 | Improvements Assessment | $282,450 |
| Land Assessment | $137,240 | Total Assessment | $419,690 |
Property Taxes
Parcel Number
2937-093-41-002
Land Assessment
$137,240
Improvements Assessment
$282,450
Total Assessment
$419,690
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607 Elberta Ave