15401 Mississippi AveAurora, CO 80017

  • Retail properties
  • 70,955 SF
For Sale
$11,500,000 View listing

Property Details for 15401 Mississippi Ave

Year built
1982
Lot size
5.39 AC
Property size (Sq ft)
70,955 SF
Property type
Retail properties
Property subtype
Lifestyle centers

Description

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.

15401 Mississippi Ave, Aurora, Colorado

Location Insight

City
Aurora
County
Arapahoe
State
Colorado
Latitude
39.6977
Longitude
-104.808

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