2321 Eisenhower BlvdLoveland, CO 80537

Property Details for 2321 Eisenhower Blvd

Year built

1984

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

4.50 AC

Property size (Sq ft)

50,098 SF

Property type

Grocery and convenience stores

APN

95103-46-001

APU

9510346001

Description

This exceptional investment opportunity presents a fee-simple owned, 50,096 square-foot Safeway grocery store located at 2321 W Eisenhower Blvd, Loveland, CO 80537. The property boasts a strong 5.50% cap rate, generating a substantial net operating income (NOI) of $656,527. Secured by a corporate guarantee from Albertsons Companies, Inc., this absolute triple-net (NNN) lease ensures zero landlord responsibilities. The current lease, commencing July 1, 2019, and expiring June 30, 2039, offers a substantial 14.6 years remaining on the primary term, further enhanced by eight five-year renewal options. Rent increases are incorporated into the lease agreement. Built in 1984 and renovated in 2008, this single-story building sits on a spacious 196,020 square-foot lot. The property's Class A designation reflects its high quality and prime location within a thriving community. The asking price is $11,936,855, translating to a price per square foot of $238.28. This investment is ideal for those seeking a secure, long-term, passive income stream with a reputable national tenant in a desirable Colorado location. The property is 100% occupied since July 1, 2019. This offering is structured for a 1031 exchange.

• CAP approach

  CAP return

  Valuation

  6%

  $17,595,392

  6.5%

  $16,241,901

  7%

  $15,081,765

• Comparable approach

  Method

  Valuation

  Relative Method

  $33,150,922

  Geo Method

  $10,430,524

• Alternative Use

  Use

  Valuation

  Residential

  $13,700,651

  Hospitality

  $12,549,723

  Educational

  $10,441,222

  Medical

  $10,800,311

  Retail

  $16,241,901

Location Insight

City

Loveland

County

Larimer

State

Colorado

Latitude

40.4084

Longitude

-105.11

CBSA code

22660

CBSA name

FORT COLLINS-LOVELAND, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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