a suburban strip center in a high income Denver suburb 12652 W. Ken Caryl Avenue, Littleton, CO 80127 ken caryl center littleton, co Listed inconjunction with CO licensed broker: David Leuthold, Leuthold Commercial Properties [email protected]| (303) 871-9000 CHRIS KOSTANECKI ck@capitalpacific.com | (415) 274-2701 CA BRE# 01002010 ZEB RIPPLE zripple@capitalpacific.com | (415) 274-2702 CA BRE# 01242540 DAVE LUCAS dlucas@capitalpacific.com | (415) 274-7390 CA BRE #: 01389761 JOSEPH CACCAMO jcaccamo@capitalpacific.com | [415] 274-7394 CA BRE#: 01191110 For more info on this opportunity plse conct:
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littleton, co - Capital PacificCAP: 6.85% The subject property is a fully occupied strip retail center located ... Built in 2004, the property features handsome brick, stucco and glass
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a suburban strip center in a high income Denver suburb12652 W. Ken Caryl Avenue, Littleton, CO 80127
ken caryl centerlittleton, co
Listed inconjunction with CO licensed broker: David Leuthold, Leuthold Commercial Properties [email protected] | (303) 871-9000
100% OCCUPIED NEIGHBORHOOD STRIP CENTER IN HIGH-INCOME DENVER SUBURB
12652 Ken Caryl Avenue, Littleton CO 80127
ADDRESS:
PRICE: $3,050,000
CAP: 6.85%
The subject property is a fully occupied strip retail center located in a highly affluent area of Denver.
The shopping center has five total tenants all paying at or below market rents on triple net leases with complete pass through of
operating expenses including management.
The property is located at a major intersection/off-ramp in West Denver.
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with excellent visibility >>
DESIRABLE LOCATION AND EXCELLENT VISIBILITY
Easy-to-manage, “daily needs” center featuring five tenants, with a prominent position at the southeast corner of W Ken Caryl Avenue and Route 470 in Littleton, Colorado. Property boasts incomes exceeding $124,000 within a one-mile radius.
Center is has prominent frontage on Ken Caryl Drive (22,000 ADT), which is a primary east/west arterial in Littleton and the gateway to the very affluent Ken Caryl residential neighborhood.
The shopping center is adjacent to a 46,000 square foot Safeway, across street from a 60,000 square foot King Sooper and one block from a Walgreens/Natural Grocers anchored center. The subject property sits on an intersection is a major daily needs, true neighborhood shopping location.
More than 123,000 people live within a 5-mile radius and average household incomes exceed $107,000.
Ken Caryl/Littleton is one of the most desirable residential communities in the Denver MSA and is approximately 9.7 miles (25 minute drive) from downtown Denver.
QUALITY CONSTRUCTION
Built in 2004, the property features handsome brick, stucco and glass construction, prominent facades for maximum retailer signage exposure, and ample parking
UPSIDE RENTS, STAGGERED LEASE EXPIRATIONS, 100% PASS THROUGH NET LEASES
Shop/inline rents for the adjacent centers average between $24 - $30/SF. Average rents for the Ken Caryl Shopping Center are $22/SF, indicating potential upside.
Market/below-market rents and staggered lease expirations mitigate rollover risk
100% passthrough net leases for all tenants
Core Characteristics
HIGHLY POPULATED AFFLUENT
AREA
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W Ken Caryl Avenue
W Bowles Avenue
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470
470
121
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285
KEN CARYL CENTERTHE MEADOWS
GOLF CLUB
RACCOON CREEK GOLF COURSE
DEER CREEK GOLF CLUB
Powderhorn Elementary
Kendallvue Elementary
Shaffer Elementary
Mortensen Elementary
Ken Caryl Middle School
Deer Creek Middle School
Columbine Hills Elementary
Stony Creek Elementary
Normandy Elementary
Aspen Creek Academy
Ute Meadows Elementary
Dakota Ridge High School Summit Ridge
Middle School
Chatfield Senior
High School
MEADOWS PLAZA
BOWLES CROSSING
SOUTHWEST PLAZA
DENVER470
22,657 DAILY
48,300 DA
ILY
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This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
CAM Insurance -$0.78 ($7,764) Current Loan Amount $2,270,684
CAM Association Dues -$0.13 ($1,344) Interest Rate 6.21%
CAM Maint-Building -$1.67 ($16,669) Amortization 30 Year
Utilities -$2.24 ($22,357) Due 9/11/2016
Management Fee (3% of EGI ) -$1.01 ($10,079) Debt Service $178,560
Monthly Debt Service $14,880.00
TOTAL OPERATING EXPENSES -$11.36 ($113,620) Lender Type: CMBS
NET OPERATING INCOME $208,893 Pre-payment: Defeasance
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This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
Current Totals: 10,000 100.00% $18,554.58 $222,655.00
Occupied 10,000 100.00% $222,655.00
Vacant 0 0.00%
Annual RentMonthly Rent
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Tenants
LIL’RICCI’SLil’ Riccis New York Pizza offers a wide range of tasty Italian cuisine, from pizza to pasta and everything in between. Its extensive menu also includes vegetarian and gluten free options, and dine-in customers also enjoy a full bar. Lil’Riccis prides itself on its family atmosphere and hosts a number of events throughout the year, such as summertime’s Music on the Patio, and also hosts birthday parties, fund raisers, and group parties. Lil’Ricci’s also offers takeout as well as catering services.
OKINAWA SUSHIOkinawa Sushi serves authentic Japanese cuisine and Sushi. With its trendy decor, patio seating, sushi bar, flat screen televisions, and happy hour specials, Okinawa has received excellent reviews, and prides itself on its ambiance and excellent food. Okinawa also offers online ordering, catering services, and is well equipped for hosting private events.
PHO 92Pho 92 is a casual dining Vietnamese restaurant, specializing in dishes such as pho noodle soup, grilled noodle bowls, and banh mi. Pho 92 offers both dine-in and take-out, and is well reviewed for its tasty, sizably-portioned dishes, and for its quick and friendly service.
BLUSH STUDIOSBlush Studios is a lifestyle studio and activewear boutique, featuring workout classes as well as activewear retail items. Blush Studios features barre and yoga classes, providing one-hour, full body workouts and a motivating community.
USA DRY CLEANERSUSA Dry Cleaners offer dry cleaning services at reasonable prices with a quick turn-around time.
USa Dry cleaners
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Site Plan
Pho
92
USA
Dry
Clea
ners
Pan
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esta
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Ken Caryl Avenue 22,657 DAILY
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W Ken Caryl Avenue
Shaf
fer P
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Cafe
Law Firm of Pickard and Ross,
P.C.
Site Plan
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HIGH QUALITY
CONSTRUCTION
Photos
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Regional Map
KEN CARYL CENTER
denver
28 Mins23 Miles
colorado springs
1 Hour69 Miles
boulder
45 Mins35 Miles
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LITTLETON, CO
Littleton, CO is the county seat of Arapahoe County and has a population of approximately 44,300. Littleton is just over 20 miles from Denver, Colorado’s state capital, and a mere 35 miles from Boulder.
Littleton has a hometown, community feel, and offers an extensive park and trail system, and light rail access. Littleton’s small town feel and close vicinity to Denver make it an extremely attractive city to live, work, or play.
With a population of over 600,000, nearby Denver is the most populous city in the Front Range Urban Corridor, an urban region stretching across 18 counties in two states. The Denver-Aurora-Broomfield MSA includes the city of Denver and nine suburban counties and has a population of over 2.3 million.
The central part of the MSA includes the city and county of Denver and its three adjoining counties: Jefferson County to the west, Adams County to the north and east, and Arapahoe County to the south and east.
The Denver MSA has a gross metropolitan product of $157.6 billion in 2010, making it the 18th largest metro economy in the United States. Denver’s economy is based partially on its geographic position and its connection to some of the major transportation systems of the country.