Aaron’s & AutoZone Plaza Rifle, Colorado

$2,705,000
Cap Rate: 7.25%
Closed Multi-Tenant
Property type: Multi-Tenant / Shopping Center

Property Details

Cap Rate: 7.25%
Price: $2,705,000
Rentable Square Feet: 15,846
Net Operating Income: $195,997
Price/Square Foot: $170.60
Land Area: 1.09 Acres
Year Built: 2012

710 Wapiti Avenue
Rifle, Colorado 81650

Investment Highlights

  • 15,846-Square Foot Multi-Tenant Property, 100 Percent Occupied by Two National Tenants
  • Aaron’s is a Franchise Guarantee, Sale-Leaseback and Lease will Run Seven Years from Close of Escrow
  • Both Tenants have Four, Five-Year Renewal Options
  • Aaron’s has 10 Percent Rent Bumps in Each Renewal Period
  • AutoZone has 10 Percent Bumps Every Five Years in Option Periods
  • Conveniently Located off Interstate 70, the Major Roadway Which Runs Through the Area and Connects Rifle to Denver, the Capital of Colorado
  • Surrounding National Retailers Include Walmart Supercenter, Mattress Firm, Rent-A-Center, McDonald’s, Taco Bell, Sonic Drive-in, Starbucks and Many More
  • Over 60,000 Residents in Growing Trade Area; Retail Hub Serving Several Surrounding Cities
  • Located Across the Street from Grand River Hospital, Which Just Underwent $18 Million Expansion
  • Three Miles from Colorado Mountain College with More Than 6,000 Students
  • Colorado is in the Top Ten Fastest Growing States

 

Investment Overview

Marcus & Millichap is pleased to present Aarons & AutoZone Plaza, located in Rifle, Colorado. The 1.09-acre center is a well-maintained 15,846-square-foot, multi-tenant property. This center is 100 percent occupied by two national tenants, which presents itself as a stabilized center and a strong, long-term investment. Aarons is a franchise guarantee, sale-leaseback and lease will run seven years from close of escrow. Both tenants have four, five-year renewal options. Aarons has 10 percent rent bumps in each renewal period, and AutoZone has 10 percent rumps every five years in option periods.

This center is conveniently located off Interstate 70, the major roadway which runs through the area and connects Rifle to Denver, the capital of Colorado. Surrounding national retailers include Walmart Supercenter, Mattress Firm, Rent-A-Center, McDonalds, Taco Bell, Sonic Drive-in, Starbucks and many more. There are over 60,000 residents in the growing trade area and is a retail hub serving several surrounding cities. Aarons & AutoZone Plaza is located across the street from Grand River Hospital, which recently underwent an $18 million expansion.

 

Broker of Record

Bob Kaplan
License:  ER100052334

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