2913 Patterson Rd - Retail FOR SALE


Grand Junction, CO 81504
$1,950,000 USD
720-729-0551
2913 Patterson Rd, Grand Junction, CO for Sale
$1,950,000 USD
Retail - FOR SALE
1/9
null | 6.22% Cap Rate

2913 Patterson Rd
Grand Junction, CO 81504


HIGHLIGHTS

  • Safeway-Anchored Center
  • 4.9 Year WALT
  • Upside Potential to Increase Below-Market Rents

OVERVIEW

Shadow retail asset consisting of two noncontiguous parcels located within the Safeway-anchored Patterson Marketplace neighborhood shopping center in Grand Junction, CO. Total RSF is 18,000 SF (9,000 SF ea.) on 3.14 acres. The property is 100% leased with one tenant (LV Nails) currently completing an interior buildout. 2025 gross rental income was $224,711 and NOI was $121,301. Current cap rate is 6.2%. Low WALT (4.9 years) creates an upside opportunity for the buyer to increase below-market rents and NNN recapture. Proforma NOI is $221,000 (11% cap). The property is encumbered by a long-term ground lease structure. The original term commenced in 2000 and ended in 2016. Tenant is on its second of ten, 5-yr renewal options which may extend to 2066. Financials available upon request.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$108 USD /SF

CAP RATE

6.22%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Patterson Neighborhood Marketplace

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Storefront, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

93

LAND DETAILS

LAND ACRES

3.14 AC

LAND SF

136,778 SF

ZONING

PD

APN/PARCEL ID

2943-082-33-003,2943-082-33-008

ASK ABOUT THIS PROPERTY

Jason StartariTransworld Commercial Real EstateMore Info
720-729-0551

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Jason StartariTransworld Commercial Real EstateMore Info
720-729-0551

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