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13801 E Mississippi Ave

45,800 SF Retail Building Aurora, CO 80012 $8,000,000 ($175/SF) 7.54% Cap Rate

Executive Summary

Lee & Associates Arizona (“Broker”) is pleased to present the opportunity to purchase a Best Buy in Aurora, Colorado. The property consists of a ±45,000 square foot retail property (the “Property”). The offering is 100% leased to Best Buy under a NNN basis with no landlord responsibilities. The lease was originally executed in October of 1994 and a current expiration date of October 21, 2029. The tenant has no renewal options remaining in their lease. With over 500 feet of frontage along a major east/west arterial that bisects Aurora and Denver to the west, Mississippi Avenue has in excess of 55,000 vehicles per day passing in front of the property.
The site is immediately adjacent to Interstate 225 with over 150,000 vehicles per day, as well as the RTD light rail system that runs directly to the west of the property. The 3.93 acre site sits at the entrance to a high concentration of retail vendors in Aurora including Home Depot, Sam’s Club, Walmart, UPS, T-Mobile, Verizon, Chick-fil-A, Dillards, TGI Fridays, US Bank, Hobby Lobby and more. Several retailers have entered the submarket over the past several years including In-N-Out Burgers, who opened their first Colorado location in 2020 approximately 1.2 miles north of the subject property and a Starbucks, adjacent to the property, which opened in 2016.

Property Facts

Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
45,800 SF
Building Class
B
Year Built/Renovated
1994/2017
Price
$8,000,000
Price Per SF
$175
Cap Rate
7.54%
NOI
$603,000
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.27
Lot Size
3.93 AC
Opportunity Zone
Yes
Zoning
CCZD - City Center Zone District
Parking
250 Spaces (5.46 Spaces per 1,000 SF Leased)
Frontage
500 FT on E Mississippi Ave

Amenities

  • Freeway Visibility
  • Pylon Sign
  • Signage

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • Retailer
  • 45,800 SF
  • -
  • Oct 2029

At Best Buy, their purpose is to enrich lives through technology. They do that by leveraging their unique combination of tech expertise and human touch to meet their customers’ everyday needs, whether they come to them online, visit their stores or invite them into their homes. Best Buy’s Purpose and Values define and inspire their Code of Ethics. They strive to be at their best. Every decision. Every day. For more years, Best Buy has been a purposeful, values-driven, human organization. They are dedicated to serving their customers, employees, vendors, shareholders and the communities in which they operate. And they know that each of their stakeholders expects that they operate in an entirely ethical manner. At Best Buy, they do well by doing good. In every decision, every day.

Tenant Industry SF OCCUPIED RENT/SF Lease End
Retailer 45,800 SF - Oct 2029

Nearby Major Retailers

Fazoli's
Starbucks
Bank of Montreal
Sarku Japan
Planet Fitness
IHOP
Tokyo Joe's
McAlisters Deli
Wells Fargo Home Mortgage
Waffle House

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
1975-18-3-16-003
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,614,573
  • Listing ID: 32391430

  • Date on Market: 7/9/2024

  • Last Updated:

  • Address: 13801 E Mississippi Ave, Aurora, CO 80012

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