Glenwood Springs, CO - True Automotive

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, SimplyTrue Automotive investment property located in Glenwood Springs, Colorado. The tenant, SimplyTrue Automotive Group recently signed a brand new 15-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features annual 1.5% rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor.

The property is located adjacent to Midland Ave, which averages 12,000 vehicles passing by daily and is a strong retail thoroughfare serving the city of Glenwood Springs. The SimplyTrue Automotive is also located just south of U.S. Highway 6 (27,000 VPD), a major east/west travelling thoroughfare. Additionally, the site is positioned just northwest of Glenwood Meadows Shopping Center, a 403,000 square foot shopping center that also features national/credit tenants including Lowe’s Home Improvement, Target, Marshalls, and Big 5. Furthermore, the asset is located less than a mile southeast to Glenwood Springs Shopping Mall, a 244,000 square foot mall with national/credit tenants including Ross Dress for Less, Tractor Supply Co, and Boot Barn. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Rite Aid, Petco, City Market, Dollar Tree, Ulta Beauty, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 12,700 with an affluent average household income of $118,367.