6900 Leetsdale DrDenver, CO 80224

  • Retail properties
  • 6,000 SF
For Sale
$1,660,000 View listing

Property Details for 6900 Leetsdale Dr

Year built
2018
Construction
STEEL FRAME
Lot size
0.43 AC
Property size (Sq ft)
6,000 SF
Zone code
B-2
Property type
Retail properties
Property subtype
Retail space
APN
06174-00-189-000
APU
617400189000

Description

This exceptional investment opportunity presents a fee-simple ownership of a 6,000-square-foot AutoZone retail building situated on a 0.43-acre lot in Denver, Colorado. The property, built in 2018, is located at 6900 Leetsdale Drive, 80224, a high-traffic area with over 39,000 vehicles per day. The property benefits from excellent visibility at a hard-corner, signalized intersection. The single-tenant, absolute NNN ground lease with AutoZone, a credit-rated, corporate-guaranteed tenant, offers significant financial stability. The current lease commenced September 1, 2018, and expires August 31, 2033, with three 5-year renewal options. This provides a remaining lease term of approximately 8.8 years. The property boasts a 4.74% cap rate and a current Net Operating Income (NOI) of $78,756. The asking price is $1,660,000. This is a prime retail investment opportunity with a strong tenant and long-term lease, offering substantial returns and security. The property is offered free and clear of existing debt on an "As-Is/Where-Is" basis. The one-story building is part of a thriving commercial area with convenient access to major transportation routes and high-density residential neighborhoods, including Downtown Denver, Cherry Creek, Glendale, and Aurora.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,655,477
    6.5%
    $1,528,133
    7%
    $1,418,980
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,966,069
    Geo Method
    $1,249,214
  • Alternative Use

    Use
    Valuation
    Residential
    $1,289,037
    Hospitality
    $1,180,751
    Educational
    $982,371
    Medical
    $1,016,156
    Retail
    $1,528,133
6900 Leetsdale Dr, Denver, Colorado

Location Insight

City
Denver
County
Denver
State
Colorado
Latitude
39.6998
Longitude
-104.908
CBSA code
19740
CBSA name
DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$50,086
$146,980
$499,410
$646,390
-
$556,800
$1,790,000
$2,346,800

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