2020 Ken Pratt BlvdLongmont, CO 80501

Property Details for 2020 Ken Pratt Blvd

Year built

1985

Construction

BRICK

Lot size

0.76 AC

Property size (Sq ft)

171 SF

Zone code

2134

Property type

Turn key restaurants

APN

1315-16-2-11-007

APU

131516211007

Description

This exceptional investment opportunity presents a 2,958 square foot, free-standing Burger King located at 2020 Ken Pratt Blvd, Longmont, CO 80501. The property sits on a 0.76-acre lot and benefits from a prominent location at the entrance to the Village at the Peaks shopping center, a high-traffic area with over 25,000 vehicles passing daily. Built in 1985 and renovated in 2017, this single-tenant property is under an absolute triple-net (NNN) lease with a franchisee tenant, eliminating landlord responsibilities. The lease commenced September 19, 2006, and has a remaining term of 12 years, expiring November 30, 2036, with a 20-year lease option. The asking price is $1,692,000, representing a 5.54% cap rate. The property features a rare low price point percentage rent schedule, offering potential upside and inflation protection. Its strategic location on a signalized corner provides excellent visibility and accessibility. The Village at the Peaks shopping center, to which this property is directly connected, boasts 6 million annual visits, ranking in the top percentiles nationally and within Colorado. This investment offers passive cash flow with a long-term lease and significant upside potential. The property's strong tenant, prime location, and favorable lease terms make it an attractive addition to any portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $60,059

  6.5%

  $55,439

  7%

  $51,479

• Comparable approach

  Method

  Valuation

  Relative Method

  $113,154

  Geo Method

  $35,603

• Alternative Use

  Use

  Valuation

  Residential

  $46,765

  Hospitality

  $42,836

  Educational

  $35,639

  Medical

  $36,865

  Retail

  $55,439

Location Insight

City

Longmont

County

Boulder

State

Colorado

Latitude

40.1445

Longitude

-105.127

CBSA code

14500

CBSA name

BOULDER, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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