For Sale
$11,500,000

15401 Mississippi AveAurora, CO 80017

High-traffic, 100% occupied center.

Overview

Added:
Feb 13
Days on market:
51
Exceptional investment opportunity: Granada Park Shopping Center presents a compelling acquisition prospect, boasting a 70,955 square foot retail space situated on a 5.39-acre lot in Aurora, Colorado. This two-story, 1982-built shopping center is currently 100% occupied by nine tenants, generating a substantial Net Operating Income (NOI) of $805,247, representing a 7.00% capitalization rate. The asking price is $11,500,000, translating to $162.07 per square foot. The property features 280 parking spaces and benefits from a MU-C (Mixed-Use Corridor District) zoning designation. Located at the high-traffic intersection of E Mississippi Ave and S Chambers Rd, the center enjoys excellent visibility and attracts 1.7 million annual visitors. The center's tenant mix includes a diverse range of businesses, including a Dollar Tree and a Montessori school, ensuring a stable and consistent income stream. NNN leases provide a passive investment structure, and annual rental increases offer protection against inflation. The weighted average lease term is 7.95 years, with an average rental rate of $13.10 per square foot, presenting potential value-add opportunities through rental rate increases or tenant repositioning. The property's location in Aurora, Colorado, the state's third-largest city, provides access to a large and growing population base, with proximity to major transportation arteries and significant employment centers, including Buckley Space Force Base and the UCHealth Anschutz Medical Campus. Furthermore, Denver International Airport is conveniently located nearby. Foot traffic demonstrates significant year-over-year growth, indicating a robust and thriving retail environment.

Highlights

  • $11,500,000 asking price for a stabilized shopping center.
  • 70,955 square feet with a 7.00% cap rate.
  • 100% occupancy, generating $805,247 in NOI.
  • Nine units in a two-story building constructed in 1982.
  • Situated on a 5.39-acre lot with 280 parking spaces in Aurora, CO.

Property Details for 15401 Mississippi Ave

Property type
Lifestyle centers, Power centers
Square Feet
70,955 SF
Year Built
1982
Stories
2
Lot Size (sq. ft)
234,788 SF
Units
9

Location Insight

City
Aurora
County
Arapahoe
State
Colorado
Latitude
39.6977045
Longitude
-104.8080298
15401 Mississippi Ave, Aurora, Colorado

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15401 Mississippi Ave
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