For Sale
$8,500,000

13801 Mississippi AveAurora, CO 80012

Aurora, CO: 45,000 SF, 7.09% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fee-simple, single-tenant retail property in Aurora, Colorado, fully occupied by a credit-rated Best Buy under a triple-net (NNN) lease. The 45,000-square-foot building, constructed in 1994, sits on a 3.93-acre lot with 225 parking spaces and boasts a prominent location along Mississippi Avenue, a major east-west arterial with over 55,000 vehicles daily. Its strategic adjacency to Interstate 225 (over 150,000 vehicles daily) and the RTD light rail system further enhances its visibility and accessibility. The property benefits from a strong tenant with a corporate guarantee and a lease expiring October 21, 2029, offering a remaining lease term of approximately 4.9 years. The current net operating income (NOI) is $603,000, resulting in a 7.09% capitalization rate. The asking price is $8,500,000, translating to $188.89 per square foot. This location is surrounded by a high concentration of established retailers, including Home Depot, Sam's Club, Walmart, and many others, indicating a robust and thriving retail environment. The property's size and location also present potential for future redevelopment. The Arapahoe County property (APN 1975-18-3-16-003) is offered as a 1031 exchange opportunity. This is a stabilized investment with 100% occupancy since its opening date of October 21, 1994.

Highlights

  • Fee-simple, single-tenant retail property in Aurora, CO, occupied by a credit-rated Best Buy under a NNN lease.
  • Prime location on Mississippi Ave, with over 55,000 vehicles daily, adjacent to I-225 and RTD light rail.
  • Best Buy, a well-established retailer, is the tenant with a corporate guarantee.
  • High traffic counts and strong demographics.
  • 3.93-acre site with redevelopment potential.

Property Details for 13801 Mississippi Ave

Property type
Lifestyle centers, Power centers
Square Feet
45,000 SF
Class
B
Year Built
1994
Buildings
1
Stories
1
Lot Size (sq. ft)
171,191 SF

Location Insight

City
Aurora
County
Arapahoe
State
Colorado
Latitude
39.6977304
Longitude
-104.8276264
13801 Mississippi Ave, Aurora, Colorado

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13801 Mississippi Ave
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