7475 W 88th Ave - Bank FOR SALE


Westminster, CO 80021- Downtown Westminster
$3,215,000 USD
720-528-6308
7475 W 88th Ave, Westminster, CO for Sale
$3,215,000 USD
Bank - FOR SALE
1/5
null | 5.75% Cap Rate

7475 W 88th Ave
Westminster, CO 80021
Downtown Westminster


HIGHLIGHTS

  • Long Term Occupancy - Chili's has successfully operated at this location since 1985
  • Attractive Absolute NNN Lease Structure - Recent 10 year renewal with expiration of June 2035 and two 5-year options to renew
  • Anchored by Strong Regional Shopping Center destination - Towne Center at Brookhill accounts for over 2.7M visits over the past twelve months

OVERVIEW

CBRE, Inc. is pleased to exclusively offer a single-tenant Chili’s Bar & Grill located in Westminster, Colorado (Denver MSA). The offering is inclusive of an absolute triple-net lease with a recent 10-year extension expiring June 2035 that features contractual rent increases in addition to two 5-year renewal options. The lease is corporately secured by Brinker International, Inc. (NYSE: EAT). The 6,000-square foot freestanding retail facility was built in 1985 and is located within the Towne Center at Brookhill, a 427,000 square foot regional shopping center destination with an array of daily need goods and services, discount soft goods merchandise, entertainment and quick service dining options. The location benefits from a hard corner, lighted entrance off of West 88th Avenue and high barriers to entry in a entirely built out retail trade area. With convenient access along two of the main traffic arteries in Westminster, West 88th Ave and Wadsworth Blvd, drive by exposure is over 80,750 vehicles per day. This strategic location is just 2 miles from the US 36 and Sheridan Avenue interchange, midway between Denver and Boulder on the US 36 tech corridor. Chili’s Bar & Grill is an American casual dining restaurant chain featuring American food, Tex-Mex cuisine and dishes influenced by Mexican cuisine, such as quesadillas, and fajitas. Founded in 1975 by Larry Lavine, the first restaurant opened in Coppell, Texas. The chain has grown to over 1,600 locations worldwide with nearly 1,300 across the U.S. and 345 international. Chili’s Bar & Grill is being offered free and clear of existing debt on an “As-Is/Where Is” basis.

FOR SALE DETAILS

PRICE

$3,215,000 USD

PRICE/SF

$544 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chili's at TheTowne Center at Brookhill

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

1.06 AC

LAND SF

46,043 SF

ZONING

PUD

APN/PARCEL ID

29-234-03-010

ASK ABOUT THIS PROPERTY

Matt HenrichsCBRE, Inc.More Info
720-528-6308

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Matt HenrichsCBRE, Inc.More Info
720-528-6308

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