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15521 E 104th AveCommerce City, CO 80022
Brakes Plus
Asset ClassRetail
Deal Size$3.32 M
Retail SF: 4,948Cap Rate: 5.25%Year Built: 2020Access Data Room
15+ Years Remaining on Corporate Guaranteed Absolute NNN Lease
overview of deal

Overview

Initial Lease Term: 20 Years

Lease Term Remaining: 15+ Years

Lease Type: Absolute NNN Lease

Rent Commencement: 5/1/2020

Expiration Date: 4/30/2040

Roof & Structure: Tenant

Rent Increases: 10% Every 5 Years

Options: 4 x 5-Year

Guarantor: Mavis Tire Express Services Intermediate Corp.

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Investment Highlights

ABSOLUTE NNN LEASE

15+ years remain on an absolute NNN lease with no landlord responsibilities. The rent is scheduled to increase by 10% every 5 years. Also, the tenant has four five-year renewal options.

 

2020 CONSTRUCTION

State-of-the-art 4,948 SF auto repair facility sitting on .94 acres with 8 service bays.

 

CORPORATE GUARANTY

Lease is backed by EOC, which operates over 1200 units across more than 30 States.

Their brands include Mavis, Express Oil Change and Brakes Plus.

 

ADJACENT TO DOMINATE KING SOOPERS MARKETPLACE ANCHORED REUNION MARKETPLACE

Located with frontage on 104th (20,400+ VPD), the property also neighbors the fourth most visited King Soopers Marketplace in the state of Colorado. Reunion Marketplace’s intersection, including the subject property contains 326k SF of retail with national retailers like Starbucks, McDonalds, KFC, Panda Express, Dutch Bros, Sherwin Williams, Taco Bell, Wendy’s, Popeyes, 7-Eleven and more.

 

SIGNIFICANT RESIDENTIAL DEVELOPMENT

Reunion and the surrounding area is currently experiencing rapid growth fueled by residential developers. Apartment buildings like Noth Range Crossings, Aspen Hills apartment and the range at Reunion combine for 540 units just down the street. In addition, the property serves the Buffalo Mesa, Fonterra Village, Harvest Meadows and Foxton Village communities. 20 miles from downtown Denver, the residents of this high growth area rely on this center for their everyday needs.

 

IDEAL AND EXPANDING DEMOGRAPHICS

Reunion, a neighborhood of Commerce City has grown by 70% since 2010, making it one of Denver’s fastest growing suburbs. The average household income is $135,811 within 3 miles and the property is located just 9-miles from Denver International Airport in the path of rapid growth and development.

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15521 E 104th AveCommerce City, CO 80022
King Soopers Marketplace
Denver International Airport
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Listing provided by Revere CRE