ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

Mattress Firm – Rifle, CO – NN Lease

990 Airport Road

ASKING PRICE: $2,028,570
CAP RATE: 7.0%

PROPERTY HIGHLIGHTS:

  • 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.
  • There are no features available

$2,028,570

4,000 SF

Price:

$2,028,570

Cap Rate:

7.0%

Building Size:

4,000 SF

SF Land Area:

0.77 acres

Current NOI:

$142,000

Lease Type:

NN

Remaining Term:

Eleven (11) Years

Status:

Active

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Download Offering Memorandum
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