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Shopping Neighborhood

Saddle Rock Village

22906 E Smoky Hill Rd, Aurora, CO 80016

Listing Price: $9,850,000

Cap Rate
6.94%
Gross SF
31,016
Rentable SF
31,016
Price/Gross SF
$317.58
Lot Size
4.59 acres
Year Built
2001

Investment Overview

The Higgins Group (THG) at Marcus & Millichap is proud to present to qualified investors, Saddle Rock Village, a 31,016 square foot retail center located in one of southeast Denver’s fastest growing corridors. Constructed in 2001 on 4.59 acres, this two-building property is of brick and stucco on-frame construction with decorative stone pillars on reinforced concrete pads. The roof is a sloped concrete shingle and was 100 percent replaced in 2016 with a ten year warranty. Parking is plentiful with 214 spaces or 6.9 spaces per 1,000 square feet. The location of Saddle Rock Village cannot be overstated. The property sits just off Smoky Hill Road (30,888 vehicles per day) and the E-470 interchange (42,000 vehicles per day). The immediate area has been one, if not the Denver’s fastest growing residential area of the entire metropolitan statistical area over the last few years. The five-mile population is 171,226 and is expected increase to 186,944 by 2025. The average household income is $146,531, with 26 percent of those households exceeding $150,000. The median price of a home is approximately $597,200 within a one-mile radius. The property is also surrounded by a vast area of national retailers, including Home Depot, Super Target, Petco, Lowes, Best Buy, Walmart, Barnes & Noble, O’Reilly Auto Parts, Office Depot and Sam’s Club just to name a few. Southlands, a 1,391,496 square foot lifestyle center is in close proximity just across E-470 to the east of the Subject property. Overall, retail vacancy in this submarket is less than six percent. This offering is priced at $9,850,000, reflecting a 6.94 percent capitalization rate based on actual in-place income. All leases are triple net with most having annual rent increases. At today’s financing levels, a double-digit cash flow should be achievable at closing (Please see current finance quotes from MMCC). Coupled with being in a high growth area, a history of consistent 90 percent plus occupancy, and stable tenancy with annual increases avails the investor with a long-term profitable investment.

Investment Highlights

  • Long Term History of Stable Occupancy Above 90 Percent Occupied Over Last Ten Years.
  • Well Maintained: No Deferred Maintenance. Brand New Roof Installed in 2016 With a Ten Year Warranty.
  • Located in one of Denver's Fastest Growing Corridors with Awesome Demographics.
  • Surrounded by 66,043 Households in a Five-Mile Radius; Estimated Population in a Five-Mile Radius is 186,944 by 2025. Average Household Income is $146,531 with 26 Percent of Households exceeding $150,000. Median Home Price of Approximately $600,000 Within a One-Mile Radius.
  • Strong Retail Corridor with Numerous National Retailers Including Home Depot, Super Target, Petco, Lowes, Best Buy, Walmart, Barnes & Noble, O'Reilly Auto Parts, Office Depot and Sam's Club.
  • Very Close Proximity to Southlands, a 1,391,496 Square Foot Lifestyle Outdoor Center Anchored By Walmart and JC Penny.
  • Annual Rent Escalators in Almost all Leases and All Leases are Triple Net.
  • High Traffic Area and Easily Accessible.

Exclusively Listed By

Shopping Neighborhood

Saddle Rock Village

Listing Price: $9,850,000

Cap Rate
6.94%
Gross SF
31,016
Rentable SF
31,016
Price/Gross SF
$317.58
Lot Size
4.59 acres
Year Built
2001

Investment Highlights

  • Long Term History of Stable Occupancy Above 90 Percent Occupied Over Last Ten Years.
  • Well Maintained: No Deferred Maintenance. Brand New Roof Installed in 2016 With a Ten Year Warranty.
  • Located in one of Denver's Fastest Growing Corridors with Awesome Demographics.
  • Surrounded by 66,043 Households in a Five-Mile Radius; Estimated Population in a Five-Mile Radius is 186,944 by 2025. Average Household Income is $146,531 with 26 Percent of Households exceeding $150,000. Median Home Price of Approximately $600,000 Within a One-Mile Radius.
  • Strong Retail Corridor with Numerous National Retailers Including Home Depot, Super Target, Petco, Lowes, Best Buy, Walmart, Barnes & Noble, O'Reilly Auto Parts, Office Depot and Sam's Club.
  • Very Close Proximity to Southlands, a 1,391,496 Square Foot Lifestyle Outdoor Center Anchored By Walmart and JC Penny.
  • Annual Rent Escalators in Almost all Leases and All Leases are Triple Net.
  • High Traffic Area and Easily Accessible.

Investment Overview

The Higgins Group (THG) at Marcus & Millichap is proud to present to qualified investors, Saddle Rock Village, a 31,016 square foot retail center located in one of southeast Denver’s fastest growing corridors. Constructed in 2001 on 4.59 acres, this two-building property is of brick and stucco on-frame construction with decorative stone pillars on reinforced concrete pads. The roof is a sloped concrete shingle and was 100 percent replaced in 2016 with a ten year warranty. Parking is plentiful with 214 spaces or 6.9 spaces per 1,000 square feet. The location of Saddle Rock Village cannot be overstated. The property sits just off Smoky Hill Road (30,888 vehicles per day) and the E-470 interchange (42,000 vehicles per day). The immediate area has been one, if not the Denver’s fastest growing residential area of the entire metropolitan statistical area over the last few years. The five-mile population is 171,226 and is expected increase to 186,944 by 2025. The average household income is $146,531, with 26 percent of those households exceeding $150,000. The median price of a home is approximately $597,200 within a one-mile radius. The property is also surrounded by a vast area of national retailers, including Home Depot, Super Target, Petco, Lowes, Best Buy, Walmart, Barnes & Noble, O’Reilly Auto Parts, Office Depot and Sam’s Club just to name a few. Southlands, a 1,391,496 square foot lifestyle center is in close proximity just across E-470 to the east of the Subject property. Overall, retail vacancy in this submarket is less than six percent. This offering is priced at $9,850,000, reflecting a 6.94 percent capitalization rate based on actual in-place income. All leases are triple net with most having annual rent increases. At today’s financing levels, a double-digit cash flow should be achievable at closing (Please see current finance quotes from MMCC). Coupled with being in a high growth area, a history of consistent 90 percent plus occupancy, and stable tenancy with annual increases avails the investor with a long-term profitable investment.

Exclusively Listed By

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