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Fremont Plaza 3245 E Highway 50
13,721 SF 100% Leased Office Building Canon City, CO 81212 $2,852,443 ($208/SF) 8.35% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand New Roof - Installed October 2023 and over $80,000 in tenant improvements
- Long-Term Tenants - All three tenants have 10+ year history at site
- Strong Location - Directly off Highway 50 (22,000 VPD)
- Value-Add Opportunity - 1,931 SF of vacant space and low market vacancy
- Rent Growth - 2-3% annual rent increases during base terms and options
- Growing Area - 3.83% population growth since 2020
EXECUTIVE SUMMARY
The Property consists of 1.57 acres and a one story, 13,721 square foot building that was built in 2003. Located directly off of US Highway 50, the subject Property sees nearly 22,000 vehicles per day and is surrounded by a mix of national and local tenants.
The Tenants include Centura Health, China Garden Restaurant, and American Medical Response. The Property has 1,931 vacant space, providing the Purchaser a great Value-Add opportunity. All three Tenants have been long-term occupants at the subject Property with no plans to leave, and a weighted average lease term remaining of 3.9 years. Each Lease contains strong annual increases.
BJ Feller - CO Lic. #EA.100088654
PROPERTY FACTS
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Health Care and Social Assistance
- -
- $16.32
- Triple Net
- Aug 2014
American Medical Response (AMR) is a leading provider of emergency medical services (EMS), delivering quality pre-hospital healthcare to thousands of communities across the United States. Their teams of highly trained and dedicated medical professionals’ partner with large and small hospital systems, counties and municipalities to ensure patients receive the right level of care, right when they need it. AMR is the flagship ground ambulance solution of Global Medical Response, giving us access to vast resources on both a national and local level. They operate a fleet of many ground ambulances and support vehicles equipped for 911 emergency services or interfacility transports—including basic life support, advanced life support and critical care capabilities—that extend hospital-level care out into the community.
-
- Health Care and Social Assistance
- -
- -
- Triple Net
- Nov 2020
Formed in 2019 through the alignment of Catholic Health Initiatives (CHI) and Dignity Health, CommonSpirit® is one of the largest nonprofit health systems in the U.S., with more than 1,000 care sites in over 20 states coast to coast, serving 20 million patients in big cities and small towns across America. More than ever, the world needs compassion. Communities need caring and families need support. To meet these challenges, CommonSpirit Health® is committed to building healthy communities by advocating for those who are poor and vulnerable, and innovating how and where healing can happen.
- China Garden
- Accommodation and Food Services
- -
- -
- -
- Jul 2018
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Health Care and Social Assistance | - | $16.32 | Triple Net | Aug 2014 | |
|
|
Health Care and Social Assistance | - | - | Triple Net | Nov 2020 | |
| China Garden | Accommodation and Food Services | - | - | - | Jul 2018 |
PROPERTY TAXES
| Parcel Number | 000098104096 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $361,306 |
PROPERTY TAXES
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Fremont Plaza | 3245 E Highway 50
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