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Lender Driven, Whole Foods-Anchored Opp. 226 Lusher Ct 20,520 SF 58% Leased Retail Building Online Auction Sale Frisco, CO 80443
Investment Highlights
- Lender-Facilitated Auction Sale
- Compelling Basis Below Replacement Cost
- Embedded Lease-Up Upside
- Anchored by a Best-in-Class Grocer (Whole Foods)
- A Supply-Constrained, Low Vacancy Market (Silverthorne-Frisco Submarket)
- Potential for Reduced Occupancy Costs (Via Ground Lease Rights)
Executive Summary
Kenai Capital Advisors (“Kenai”), as exclusive advisor to the seller, is pleased to present the opportunity to acquire the leasehold interest in 226 Lusher Ct Frisco, Colorado 80443 (The “Mountain Wellness Building”), a 20,400 SF, 2-story Retail / Medical Office building located in the Colorado ski area submarket.
The Mountain Wellness Building sits in a shopping center that includes a Whole Foods, Epic Mountain Gear, and highly trafficked restaurants and breweries. Located in the heart of Frisco along the I-70 mountain corridor — Summit County’s primary commercial spine and the gateway to the Breckenridge, Copper Mountain, Keystone, and Vail resort markets — the Property offers investors a rare opportunity to acquire an institutional-quality, Class-A asset at a compelling basis through an efficient Ten-X auction process. Built in 2016, the building features excellent visibility, modern construction, and immediate access to I-70, connecting tenants and patients to the broader Summit County trade area and the Front Range. Currently 58% occupied, the Property delivers assured in-place cash flow while
offering substantial upside through lease-up of the remaining vacancies. Notably, 6,058 SF of vacant space is already built out as medical office, allowing incoming ownership to lease up with minimal additional capital investment. The remaining largest vacant suite is a 1,974 SF ground floor storefront space, perfect for a variety of retail tenants looking to capitalize on the property’s prime micro-location and the Whole Foods anchor. With supply-constrained mountain-market fundamentals, affluent year-round demographics, and an acquisition basis well below replacement cost, the Mountain Wellness Building represents a value-driven opportunity in one of Colorado’s most resilient and high-barrier resort submarkets.
The Mountain Wellness Building sits in a shopping center that includes a Whole Foods, Epic Mountain Gear, and highly trafficked restaurants and breweries. Located in the heart of Frisco along the I-70 mountain corridor — Summit County’s primary commercial spine and the gateway to the Breckenridge, Copper Mountain, Keystone, and Vail resort markets — the Property offers investors a rare opportunity to acquire an institutional-quality, Class-A asset at a compelling basis through an efficient Ten-X auction process. Built in 2016, the building features excellent visibility, modern construction, and immediate access to I-70, connecting tenants and patients to the broader Summit County trade area and the Front Range. Currently 58% occupied, the Property delivers assured in-place cash flow while
offering substantial upside through lease-up of the remaining vacancies. Notably, 6,058 SF of vacant space is already built out as medical office, allowing incoming ownership to lease up with minimal additional capital investment. The remaining largest vacant suite is a 1,974 SF ground floor storefront space, perfect for a variety of retail tenants looking to capitalize on the property’s prime micro-location and the Whole Foods anchor. With supply-constrained mountain-market fundamentals, affluent year-round demographics, and an acquisition basis well below replacement cost, the Mountain Wellness Building represents a value-driven opportunity in one of Colorado’s most resilient and high-barrier resort submarkets.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Property Information
- Operating and Financials
- Purchase Agreement
- Title and Insurance
- Register to Bid Instructions
Property Facts
Sale Type
Investment
Sale Conditions
Type of Ownership
Leasehold
Property Type
Building Size
20,520 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2016
Percent Leased
58%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.98
Lot Size
0.48 AC
Parcel Number
6516637
Zoning
FGW - Commercial: Retail, Medical Office and Traditional Office Uses Allowed (See Ground Lease).
Amenities
- Corner Lot
- Balcony
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- EyeTech Optometry
- -
-
99,999 SF
- -
-
Jan 0000
- The Steadman Clinic
- -
-
99,999 SF
- -
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| EyeTech Optometry | - | 99,999 SF | - | Jan 0000 | ||
| The Steadman Clinic | - | 99,999 SF | - | Jan 0000 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Very bikeable
80/100
Demographics
Demographics
1 mile
3 mile
5 mile
2025 Population
1,730
6,065
16,744
2020 Population
1,988
6,191
16,974
2030 Population
1,655
5,981
16,537
2025-2030 Projected Population Growth
-4.3%
-1.4%
-1.2%
Daytime Employees
5,747
6,920
12,511
Total Businesses
594
910
1,682
Average Household Income
$133,870
$134,357
$136,331
Median Household Income
$113,674
$112,500
$114,044
Total Consumer Spending
$29M
$97.3M
$262.2M
Median Age
44.3
39.9
39.3
2025 Households
784
2,645
6,797
Percent College Degree or Above
39%
35%
34%
Average Home Value
$894,402
$852,237
$840,778
Nearby Major Retailers
Sale Advisors
Sale Advisors
Canyon Law, Director
Mr. Law specializes in office investment sales across the Rocky Mountains and Midwest. With a wealth of experience on the principal side, Canyon brings deep industry knowledge to help investors navigate today’s evolving and often complex office market. Over the course of his career, he has overseen more than $1.7 billion in transactions across various stages of the investment lifecycle.
A Colorado native, Canyon has over nine years of experience in real estate acquisitions, finance, development, and asset management, working with institutional, family office, and private equity investors. He began his career at PGIM Real Estate in Los Angeles, where he underwrote and closed debt investments nationwide. He then joined Onni Group, playing a key role in sourcing, underwriting, and closing high-profile office and mixed-use acquisitions in Los Angeles, San Diego, and Chicago. Canyon later spearheaded the U.S. expansion of Rize Properties, a Vancouver-based development firm, where he successfully sourced, capitalized, and executed two multifamily developments through to completion. Most recently, he served as the asset manager for Knightbridge Capital in Denver, overseeing a portfolio of office and multifamily assets.
Canyon received his bachelor’s degree in Hotel Administration from Cornell University with a minor in real estate.
A Colorado native, Canyon has over nine years of experience in real estate acquisitions, finance, development, and asset management, working with institutional, family office, and private equity investors. He began his career at PGIM Real Estate in Los Angeles, where he underwrote and closed debt investments nationwide. He then joined Onni Group, playing a key role in sourcing, underwriting, and closing high-profile office and mixed-use acquisitions in Los Angeles, San Diego, and Chicago. Canyon later spearheaded the U.S. expansion of Rize Properties, a Vancouver-based development firm, where he successfully sourced, capitalized, and executed two multifamily developments through to completion. Most recently, he served as the asset manager for Knightbridge Capital in Denver, overseeing a portfolio of office and multifamily assets.
Canyon received his bachelor’s degree in Hotel Administration from Cornell University with a minor in real estate.
Jules Sherwood, Principal/Founder
Jules Sherwood has more than 15 years of experience in commercial real estate investments, leasing, asset management, and capital markets and has completed over $1 billion in real estate transactions. Jules is intently focused on adding value every client’s real estate portfolio. A former Lieutenant in the United States Navy, he has a bachelor’s degree in economics from Cornell University, and an MBA in finance from Arizona State University’s W.P. Carey School of Business.
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Cheri Mascitelli
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Photos
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Lender Driven, Whole Foods-Anchored Opp. | 226 Lusher Ct
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