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Miscellaneous

Net Lease Michaels in Colorado Springs

7664 N Academy Blvd, Colorado Springs, CO 80920

Listing Price: $4,620,000

Cap Rate
6.08%
Tenant Name
Michaels
Years Remaining On Lease
9.6
Guarantor
Corporate Guarantee
Rentable SF
20,257
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$13.86

Investment Overview

Subject is a 20,257 Square-Foot Michaels on a 1.88-Acre Lot with Ample Parking, Pylon Signage, and Easy Ingress/Egress with Signalized Access in the Chapel Hills Retail Area.
Michaels Just Signed a New Extension, is Corporate Guaranteed, and has Just Under Ten Years Remaining with Rent Increase in Year Six.

Investment Highlights

  • Robust Traffic Counts on Academy Boulevard (53k VPD), Briargate Boulevard (22k VPD), and a Half Mile off of I-25 (133k VPD) (Source: CoStar, CDOT 2025)
  • Well Established Chapel Hills Retail Area | Nearby National Retailers Include: King Soopers, Walmart, Whole Foods, Pep Boys, Five Below, Burlington, Macy's, Best Buy, Dick's, and Others
  • Affluent Community with an Average Household Income of Over $99K within Five Miles of the Subject Asset, as of 2024
  • Parks and Outdoor Recreational Facilities Nearby Include: US Olympic Training Center, Palmer Park, Memorial Park, Red Rock Canyon, Garden of the Gods, Pikes Peak, The Broadmoor, Colorado Springs Country Club, Patty Jewett Golf Course, and More
  • Subject is 12 Miles from Colorado Springs Airport, Serving Over 2.3M Passengers Annually (coloradosprings.gov)
  • Subject is 11 Miles from Downtown Colorado Springs with a Population of 493,554

Broker of Record

  • Adam Lewis

    First Vice President/Regional Manager

    (303) 328-2000

    License(s) CO: ER100091205

    Colorado

Miscellaneous

Net Lease Michaels in Colorado Springs

Listing Price: $4,620,000

Cap Rate
6.08%
Tenant Name
Michaels
Years Remaining On Lease
9.6
Guarantor
Corporate Guarantee
Rentable SF
20,257
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$13.86

Investment Highlights

  • Robust Traffic Counts on Academy Boulevard (53k VPD), Briargate Boulevard (22k VPD), and a Half Mile off of I-25 (133k VPD) (Source: CoStar, CDOT 2025)
  • Well Established Chapel Hills Retail Area | Nearby National Retailers Include: King Soopers, Walmart, Whole Foods, Pep Boys, Five Below, Burlington, Macy's, Best Buy, Dick's, and Others
  • Affluent Community with an Average Household Income of Over $99K within Five Miles of the Subject Asset, as of 2024
  • Parks and Outdoor Recreational Facilities Nearby Include: US Olympic Training Center, Palmer Park, Memorial Park, Red Rock Canyon, Garden of the Gods, Pikes Peak, The Broadmoor, Colorado Springs Country Club, Patty Jewett Golf Course, and More
  • Subject is 12 Miles from Colorado Springs Airport, Serving Over 2.3M Passengers Annually (coloradosprings.gov)
  • Subject is 11 Miles from Downtown Colorado Springs with a Population of 493,554

Investment Overview

Subject is a 20,257 Square-Foot Michaels on a 1.88-Acre Lot with Ample Parking, Pylon Signage, and Easy Ingress/Egress with Signalized Access in the Chapel Hills Retail Area. Michaels Just Signed a New Extension, is Corporate Guaranteed, and has Just Under Ten Years Remaining with Rent Increase in Year Six.

Broker of Record

  • Adam Lewis

    First Vice President/Regional Manager

    (303) 328-2000

    License(s): CO: ER100091205

    Colorado

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