For Sale
$3,071,278

1990 Academy BlvdColorado Springs, CO 80916

High-yield, NNN-leased Big Lots property.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a fee-simple, 24,625 square foot Big Lots convenience and grocery store located at 1990 S Academy Blvd, Colorado Springs, CO 80916. The property boasts a 20-year absolute NNN lease with a corporate guarantee from Big Lots, Inc. (NYSE: BIG), ensuring consistent cash flow. The lease includes a favorable 2% annual rent increase, providing significant long-term income growth. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $191,955, representing a 6.25% cap rate on the asking price of $3,071,278 ($124.72/sq ft). The property sits on a 24,625 square foot lot and is offered as a 1031 exchange opportunity. Situated in a high-traffic area with strong demographics (average household income exceeding $86,100 within three miles and $93,000 within five miles), this property offers exceptional value and potential for future redevelopment due to its large lot size and favorable zoning. The property is free and clear of financing, allowing investors to leverage current market conditions for advantageous financing options. This is a rare opportunity to acquire a high-performing, well-located retail asset with significant long-term growth potential.

Highlights

  • $3,071,278 asking price for a 24,625 SF Big Lots convenience/grocery store in Colorado Springs, CO.
  • Absolute NNN lease with corporate guarantee, 100% occupancy, and a 6.25% cap rate.
  • $191,955 annual NOI with a $124.72 price per square foot.
  • 20-year lease with 2% annual rent increases.
  • Fee simple ownership, offered as a 1031 exchange opportunity.

Property Details for 1990 Academy Blvd

Property type
Retail properties, Grocery and convenience stores
Square Feet
24,625 SF

Location Insight

City
Colorado Springs
County
El Paso
State
Colorado
Latitude
38.8034024
Longitude
-104.7589305
1990 Academy Blvd, Colorado Springs, Colorado

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1990 Academy Blvd
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