Denver, CO - BOK Financial
$4,500,000
7900 Northfield Boulevard, Denver, CO 80238
5
Cap Rate
225,000
NOI
Details:
Description:
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple (land & building ownership) interest in an absolute NNN leased, corporate guaranteed, drive-thru equipped, BOK Financial investment property located in Denver, Colorado. The tenant recently signed a 15-year lease with 4 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features a 10% rental increase every 5 years throughout the initial term and 100% of the fair market rental value at the beginning of the 1st option period, growing NOI and hedging against inflation. The lease is corporate guaranteed and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. This offering represents a rare opportunity to own real estate within a dense, infill trade area.
BOK Financial is strategically located along Northfield Blvd., a major retail and commuter thoroughfare, averaging 16,300 vehicles passing by daily. The building is complete with a drive-thru, providing ease and convenience for customers. The subject property is an outparcel to The Shops at Northfield (1.1M SF), the #1 community shopping center in Colorado (per Placer.ai). The shopping center serves over 7.1 million visitors per year and includes tenants like Bass Pro Shops, Super Target, Macy’s, JCPenny, Old Navy, Nike, Starbucks, and more. Other nearby national/credit include Walmart Supercenter, The Home Depot, Sam’s Club, Raising Canes, In-N-Out Burger, and Five Guys. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. The property has direct on/off ramp access to State Highway 35 (58,900 VPD) and is near the on/off ramps to U.S Highway 36 (100,000 VPD) and Interstate 70 (252,000 VPD). The asset is situated amid a significant amount of new development with thousands of SF of commercial and residential space coming online soon. The 5-mile trade area is supported by more than 295,000 residents and 176,000 daytime employees with an affluent average household income of $121,607.
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