Alta Convenience & Conoco Gas Station: Salida | 337 W 1st St
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Alta Convenience & Conoco Gas Station: Salida 337 W 1st St
2,450 SF 100% Leased Retail Building Salida, CO 81201 $2,363,000 ($964/SF) 6.25% Cap Rate
Investment Highlights
- Business Not For Sale
- Absolute NNN Lease | Zero Landlord Obligations
- Fee Simple Ownership | Bonus Depreciation
- Strong Tenant | 164 Unit Operator | CO, NE, WY & NM
- 1.5% Annual Rent Increases Through & Including Feb. 2026, followed by 7.5% Increases in 2031, 2036 & in Each of the Four, 5-Year Renewal Options
- Located in the Heart of Downtown Salida, Colorado
Executive Summary
CBRE is pleased to offer for sale the 2,450-square-foot Alta Convenience Store & Conoco Gas Station in Salida, Colorado. Built in 1976, the property is subject to an absolute NNN lease featuring ±16.3 years of term remaining and four 5-year renewal options. The offering enjoys good rent growth with the rent scheduled to increase by 1.5% annually through and including February 2026, followed by 7.5% increases in 2031 and 2036 during the initial term.
The tenant under the lease—CF Altitude LLC—operates 164 service stations and convenience stores throughout Colorado, Nebraska, Wyoming, New Mexico, Kansas, Missouri and Illinois and is headquartered in Greenwood Village, Colorado.
The tenant under the lease—CF Altitude LLC—operates 164 service stations and convenience stores throughout Colorado, Nebraska, Wyoming, New Mexico, Kansas, Missouri and Illinois and is headquartered in Greenwood Village, Colorado.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,450 SF
Building Class
C
Year Built
1976
Price
$2,363,000
Price Per SF
$964
Cap Rate
6.25%
NOI
$147,668
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.28
Lot Size
0.20 AC
Parking
10 Spaces (4.08 Spaces per 1,000 SF Leased)
Frontage
289 FT on I Street
Walk Score ®
Very Walkable (79)
Bike Score ®
Biker's Paradise (90)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | R368132419218 | Improvements Assessment | $158,590 |
| Land Assessment | $144,050 | Total Assessment | $302,640 |
PROPERTY TAXES
Parcel Number
R368132419218
Land Assessment
$144,050
Improvements Assessment
$158,590
Total Assessment
$302,640
Contacts
-
Christopher Bosworth -
Thomas Carr -
Brian Pfohl -
Jon Rue -
Kaitlyn Wolf -
Leah Lindell -
Abby Kelly -
CBRE, Inc.
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Alta Convenience & Conoco Gas Station: Salida | 337 W 1st St
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