For Sale
$4,660,000

110 Ken Pratt BlvdLongmont, CO 80501

High-Yield NNN Lease, Strong Tenant

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 5,810 square foot, single-story auto shop in Longmont, Colorado. The property boasts a 15-year absolute NNN lease with a strong corporate guarantee from Christian Brothers Automotive, a rapidly expanding national brand with over 250 locations. The lease features annual rent escalations of 1.5% beginning in year six, ensuring consistent income growth. Built in 2022, the property sits on a 0.88-acre lot at a prime location on E Ken Pratt Blvd, experiencing high daily traffic volume exceeding 45,169 vehicles. The surrounding area showcases a robust retail environment with national brands like Safeway, Lowe's, Starbucks, and many more, indicating a strong and affluent demographic. The property's Net Operating Income (NOI) is $291,000, resulting in a 6.24% cap rate, and a price per square foot of $802.07. The 5-mile radius boasts a population exceeding 108,369 with an average household income well above the national average at over $109,000. This is a rare opportunity to acquire a high-performing, low-maintenance asset with significant long-term growth potential. The asking price is $4,660,000. The lease has options extending the term up to 65 years. This is a truly exceptional investment opportunity with minimal landlord responsibilities.

Highlights

  • 5,810 SF single-story auto shop in Longmont, CO on a 0.88-acre lot.
  • 15-year absolute NNN lease with options to extend up to 65 years, featuring 1.5% annual rent escalations starting year six.
  • Strong corporate guarantee from Christian Brothers Automotive, a national brand with over 250 locations.
  • High-traffic location on E Ken Pratt Blvd, with over 45,169 vehicles per day, near major retailers including Safeway, Lowe's, and Starbucks.
  • $4,660,000 asking price, $291,000 NOI, 6.24% cap rate, and $802.07 price per square foot. The 5-mile radius has over 108,369 residents with an average household income exceeding $109,000.

Property Details for 110 Ken Pratt Blvd

Property type
Retail properties, Auto shops
Square Feet
5,810 SF
Year Built
2022
Buildings
1
Stories
1
Lot Size (sq. ft)
38,333 SF

Location Insight

City
Longmont
County
Boulder
State
Colorado
Latitude
40.1532316
Longitude
-105.0915912
110 Ken Pratt Blvd, Longmont, Colorado

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110 Ken Pratt Blvd
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