Castle Rock, CO - Ambrosia Shops

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a fully leased, 3-story office over retail building located in Castle Rock, Colorado. The property was just delivered in 2020, featuring a new exterior and roof. All tenants signed at least 5-year leases and options, demonstrating their commitment to the site. Additionally, all leases all tenants operate under NNN leases, limiting expense leakage for a future investor. Furthermore, all leases have RARE ANNUAL RENTAL INCREASES throughout the initial term and the option period, steadily growing NOI and hedging against inflation.

The subject property is strategically located near a signalized, hard corner intersection of Meadows Pkway and Meadows Blvd, averaging a combined 59,400 vehicles passing by daily. The site also benefits from excellent visibility and access via multiple monument signs and points of ingress/egress. Additionally, the asset profits from nearby direct on/off ramp access to Interstate 25 (114,800 VPD), a heavily traveled commuter freeway connecting Denver and Colorado Springs. Located within a developing community with an immense retail corridor in close proximity, the property is situated nearby to a variety of national/credit tenants, including Kohls. King Scooper, Ross Dress For Less, Home Depot, Hobby Lobby, Lowe’s, Walmart Supercenter, and more. Strong tenant synergy increases consumer draw to the trade area and promotes crossover retail exposure for the site. Moreover, the subject property is surrounded by a highly dense residential area, providing a direct consumer base to draw from. The 5-mile trade area is supported by a population of more than 80,000 residents and 26,000 employees. Residents within 5 miles of the subject property boast an affluent average household income of $167,382.

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Listing ID: a288X0000065K1TQAU