ASKING PRICE: $2,028,570
CAP RATE: 7.0%
- VISIBLE RETAIL SITE — New construction outparcel to Walmart (140,000+ SF) across from Grand River Hospital (nearly $18 million expansion recently completed in 2014). Directly off I-70, Colorado’s major east-west highway.
- ESTABLISHED TENANT — Mattress Firm is a national tenant with the largest geographic footprint in the U.S (2,300+ locations) among multi-brand mattress specialty retailers.
- ATTRACTIVE INVESTMENT — New 11-year, corporate-guaranteed lease with fixed 10% rent increases and minimal landlord responsibilities.
- REGIONAL TRADE AREA — Rifle is the 2nd largest city in Garfield County and functions as a retail hub in the region, drawing from surrounding communities as far as Meeker (40+ miles away). The trade area consists of nearly 60,500 people with an average household income of $75K+.
- CENTRALIZED LOCATION — Rifle is located along I-70 (connecting the metropolitan areas of Grand Junction & Denver) & the Colorado River. Rifle is about an hour northeast of Grand Junction, the largest city on Colorado’s Western Slope & the heart of Colorado wine country. Popular ski resorts, including Aspen & Vail, are also a little over an hour away.
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