150 S Union Blvd - Retail FOR SALE


Lakewood, CO 80228- Union Square
$3,835,000 USD
303-448-1935
150 S Union Blvd, Lakewood, CO for Sale
$3,835,000 USD
Retail - FOR SALE
1/13
null | 6.25% Cap Rate

150 S Union Blvd
Lakewood, CO 80228
Union Square


OVERVIEW

Union Court is a 6,580 sq ft retail center built in 2000 sitting on a 0.63 acre site and currently leased to four tenants. Stable tenancy with limited turnover over the twenty year period with current ownership (two tenant turns in 20 years). The retail center has four successful, busy food service tenants: Mad Greens (salads), Anthony's Pizza, Hana Matsuri II Sushi, and Wolf+Wildflower (coffee/wine). All are on five year NNN leases offering a reliable and durable income stream. 2027 NOI of $239,654. The Union Blvd corridor is a major commercial corridor in the West Denver area with both significant daytime population and significant residential population. Traffic is spurred on by the Denver Federal Center and St Anthony Hospital and medical campus both just a few blocks away. Directly across the street and around the corner are three newer multi family buildings with a total of 973 apartment homes. The Union Blvd commercial corridor contains over 4 million square feet of commercial space. The Federal Center light rail stop is also just a few blocks away - one of eleven light rail stations in the West Denver area. Offered at a competitive cap rate with a strategic lease term schedule and no leases expiring in the next two years. The trade area benefits from both a strong daytime and evening population driving customers to the center mornings, afternoons, and evenings, seven days a week. The site offers favorable zoning for future development potential. Strong demographics. Newer roof (2019).

FOR SALE DETAILS

PRICE

$3,835,000 USD

PRICE/SF

$583 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Union Court

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

42

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,556 SF

ZONING

C-1, Lakewood

APN/PARCEL ID

49-084-04-001

ASK ABOUT THIS PROPERTY

John HoefflerWK Real EstateMore Info
303-448-1935

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John HoefflerWK Real EstateMore Info
303-448-1935

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.