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13801 E Mississippi AveAurora, CO 80012
Best Buy Aurora
Asset ClassRetail
Retail SF45,800
# Tenants: 1Weighted Average Lease Term: 3 YearsSquare Feet: 45,800Access Data Room
Best Buy Aurora - Value-Add Opportunity
overview of deal

Overview

Kenai Capital Advisors, as exclusive advisor to the Seller, is pleased to present the opportunity to acquire 13801 East Mississippi Avenue, a ±45,800 square foot freestanding retail building situated on 3.93 acres along the Interstate 225 corridor in Aurora, Colorado.

 

The property is leased to Best Buy under a NNN lease extending through October 21, 2029. Although the premises are currently unoccupied following the tenant's relocation, Best Buy remains contractually obligated for rent and for substantially all property costs through the lease term, providing the incoming owner with in-place income from a national credit tenant rather than a vacant building. Under the NNN structure, the tenant is responsible for real property taxes, insurance, utilities, maintenance, and structural repairs through expiration.

 

Upon expiration in October 2029, a new owner can execute one of two business plans: a single-tenant re-lease of the entire building, or a multi-tenant repositioning of the box into separately demised suites. Direct frontage on Interstate 225, a parking ratio of 5.46 spaces per 1,000 square feet, and MU-C (Mixed Use Corridor) zoning position the property for single tenant, multi-tenant, or longer-term redevelopment alternatives.

 

Investment Highlights

  • 100% Leased to Best Buy Stores, L.P. (NYSE: BBY)
  • Investment Grade Credit Tenancy BBB+ (S&P) / A3 (Moody's)
  • 3 Years of Lease-Term Remaining
  • Year Built 1994, Renovated 2017
  • 45,800 SF on 3.93 Acres
  • Immediate access to I-225, RTD Light Rail, and Mississippi Ave.
  • Supply-constrained, low-vacancy Aurora retail market
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13801 E Mississippi AveAurora, CO 80012

Kenai Retail Investment Sales Team

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