18702 Cottonwood DrParker, CO 80138
Brakes Plus
New 20-Year Absolute NNN Lease | Outparcel to Costco
Overview
Price: $3,454,000 | Cap Rate: 5.50%
Lease Term: 20 Years
Lease Type: Abs. NNN Lease
Rent Increases: 10% Every 5 Years
Options: 4 x 5-Years
Lease Guarantor: Mavis Tire Express Services Intermediate Corp.
Investment Highlights
- New 20-Year absolute triple-net (NNN) lease with zero landlord responsibilities, 10% rent increases every five years, and 4 x 5-year options to renew. New construction Brakes Plus building with eight service bays.
- Mavis Topco guarantees the lease and is comprised of over 2,000 units. Led by brands like Brakes Plus, Express Oil Change, and Mavis Discount Tire, Mavis has grown through acquisition of existing tire brands. Recently in May of 2023, Mavis Topco acquired 595 units from TBC Corp.
- Irreplaceable outparcel to Colorado’s most visited Costco Wholesale (1st/15 locations). This Costco is surrounded by best-in-class retail tenants including Trader Joe’s, Raising Cane’s, Lifetime Fitness, McDonald’s, King Soopers Marketplace (Kroger), and more.
- The subject property is located at one of Denver’s most traveled intersections, Parker Rd & E-470 (toll road). This confluence sees over 105,000 VPD, offering efficient access to the entire Denver MSA. Parker Rd connects downtown Denver to the affluent southeastern suburbs of Denver including the Cottonwood, Parker, and Pinery neighborhoods.
- The intersection is a dominant commercial hub which includes 1.5M SF of retail (99.2% occupied), 2,709 multi-family housing units, and 469 hotel rooms within a 1-mile radius.
- Within a 5-mile radius of the subject property, 189k+ people earn an average household income of $160k+. Parker, Colorado is consistently ranked among the top places to live and raise a family in the state and country.
Photo Gallery
18702 Cottonwood DrParker, CO 80138
Costco (Most Visited Costco in Colorado)
Sales Team
Listing provided by Revere CRE