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1901 W Mississippi AveDenver, CO 80223
Athmar Park Shopping Center
Asset ClassRetail
Occupancy100%
# Tenants: 12Deal Size: $8.82 MRetail SF: 59,479Access Data Room
Denver, CO | Neighborhood Essential Retail Center
overview of deal

Overview

Number of Units: 13

Occupancy: 100%

GLA: 59,479

NOI (Year 1): $684,048

$/SF: $148

Cap Rate: 7.75%

Zoning: E-MX-A3

Year Built/Renovated: 1955/2024

Lot Size: 5.07 AC

Parking Spaces: 323

Access the Data Room

Investment Highlights

Anchored by Family Dollar & Planet Fitness

  • Family Dollar is the 5th Busiest in the State, Have Been at the Center for 15 Years
  • Brand New Lease with Planet Fitness, Established Operator with 119 Locations

 

ESSENTIAL NEIGHBORHOOD CENTER - LIMITED DIRECT COMPETITION

  • Athmar Park is just one of three retail centers over 40,000 SqFt within a 1-mile radius
  • 18,618 people reside within a 1-mile radius and have limited surrounding retail options
  • Carniceria y Taqueria serves as the neighborhood grocer, in an area that lacks full-service grocers.

RECENT REMODEL WITH OVER $1MM SPENT ON CAPITAL IMPROVEMENTS

  • New Roofs with warranty through December 2039
  • Planet Fitness to install all new HVAC units at their costs
  • Two new HVAC Units replaced for Allison Event Center & Carniceria y Taqueria (Latin Grocer/Butcher)
  • New painting and sign upgrades

AT OR BELOW MARKET RENTS - ONLY 2 TENANTS HAVE FIXED RATE OPTIONS

  • Average in Place Rent is only $11.75 per Square Foot
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1901 W Mississippi AveDenver, CO 80223
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Listing provided by Revere CRE