William A. (Bill) Downes, CCIM Owner/Managing Broker 303.880.9880 Ron Catterson Associate Broker 720.705.2640 Green Valley Center 11863 & 11873 Springs Road Conifer, CO 80433 Presented by
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Building 1 Building 2 Totals Sales Price $1,000,000.00 $950,000.00 $1,950,000.00 Income $99,300.96 $99,748.80 $199,049.76 Expenses $54,671.35 $54,168.12 $108,839.47 NOI $44.629.61 $45,580.68 $90.210.29 Sales Price $1,000,000.00 $950,000.00 $1,950,000.00 Cap Rate 4.46% 4.80% 4.63% Offering Highlights
Property Details Located in the center of the 285 corridor, the property has great access to Aspen Park as well as growth areas further west. The buildings are situated just off Highway 285 about 3 miles west of Aspen Park. Two buildings with ample parking overlooking ponds in the rear. The property has mixed retail/office/service tenants and is anchored by the Snow Pack Taproom, which is a very popular restaurant/bar. The restaurant also boast the only sand volley ball court in the area. Green Valley Center Property Address 11863 & 11873 Springs Road, Conifer, CO 80433 Number of Tenants 14 Number of Buildings 2 Number of Stories 1 Year Built/Renovated 1974 Building Square Feet Lot Size Type of Ownership Parking Use Total 17252 SF # 1-9502 SF # 2-7750 SF 2.31 ac 100,624 SF Fee Simple 101 Spaces (shared parking agreement) Retail and Office
Investment Highlights Priced Below Replacement Value Re-zoned to Provide Trade Usage Each Property Has Its Own Well and Septic Ample Parking Newly Paved and Striped Parking Lot Roof Recently Replaced Includes Limited Number of Garage Units The Evergreen Commercial Group is pleased to offer for sale the Green Valley Center. The property consists of two buildings for sale together or separately, located at 11863 and 11873 Springs Road, Conifer, CO 80433. Building 1 is 9502 square feet and Building 2 is 7750 square feet. Both buildings are mixed use retail/office recently rezoned to allow for trades. The property is just south of Highway 285 about a mile and half west of the Staples Center in Conifer. It is in one of the faster growing areas in the Foothills about 3 miles west of Aspen Park in the central part of the 285 corridor. The corridor boasts the largest approved residential subdivisions approved for the area. It is part of the reason that CDOT is expanding the Highway to a four lane all the way to Bailey. The Center itself has been part of the Conifer landscape since the mid-seventies. Each building has its own good producing well and septic and is not beholden to a metro district. There is ample parking. The rear of each building has a deck overlooking some ponds with garages down below. The roofs were recently replaced. The west building overlooks the only sand volley ball court in the area which is part of the property. The tenant mix over the years has been varied. The east building consists of in-line retail units with executive suites in the rear. The tenants have been small retail businesses with some professional services in the executive suites. These units have access from the both east and west side allowing product to be shipped in our out of the back. The west building has a very popular restaurant/tap room and some other suites towards the rear. With the new rezoning, a future owner will be well poised to accommodate future growth with the trades while still providing an old-style retail/executive suite mix. Current rents are competitive and provide for some upside as the income is stabilized and improved.
Building 1 Photos
Green Valley Center Building 1 Property Address 11873 Springs Road, Conifer, CO 80433 Number of Tenants 9 Number of Stories 1 Year Built/Renovated 1974 Building Square Feet Lot Size Type of Ownership Parking Spaces Use 9502 Square Feet 0.91 acres Fee Simple 101 (shared parking agreement) Retail and Office
Tenant Summary/Rent Roll 11873 Springs Road, Building 1 Tenant Unit Net SF Rentable SF Total Rent/Month 2018 NNN Total Lease Type Evergreen Commercial Group 100 1022 1022 NNN Linn Family Dentistry 115 998 998 NNN The Bike Repair Shop 120-125 1177 1177 NNN NuFountain 135 585 585 NNN McGarva Tree & Landscape Service 150 207 337 FSG Denise Fisk 152 125 203 FSG Riley Brands, LLC 154 180 293 FSG DRS Electric 155 218 355 FSG Russegger Simons Law Office 157 134 218 FSG Conference Room 158 193 314 FSG McGarva Tree & Landscape Service 190 1112 1112 FSG Aimee Browne 195 566 566 FSG Total Building 1 8360 9502 $ 6,058.00 $ 2,127.08 $8,641.08
Operating Data Building 1 11873 Spring Road Building 1 EXPENSES Bank Charges $ 67.81 Business Licenses Fire/Security $ 603.85 Insurance $ 3,766.84 Professional Fees $ 4,296.50 Property Management $ 6,431.60 Repair & Maintenance $ 13,440.89 Snow Removal $ 3,283.86 Supplies $ 10.45 Taxes $ 16,232.61 Trash Removal $ 1,581.68 Utilities Expense $ 3,776.07 Water & Septic $ 1,179.18 TOTAL EXPENSES $ 54,671.35 Total Square Feet 7822
Building 2 Photos
Green Valley Center Building 2 Property Address 11873 Springs Road, Conifer, CO 80433 Number of Tenants 5 Number of Stories 1 Year Built/Renovated 1974 Building Square Feet Lot Size Type of Ownership Parking Spaces Use 7750 Square Feet 1.40 acres Fee Simple 101 (shared parking agreement) Retail and Office
Tenant Unit Net SF Rentable SF Total Rent/Month 2018 NNN Total Lease Type Snowpack Kitchen 205 910 910 NNN Snowpack Taproom 210 2820 2820 NNN Tenant Summary/Rent Roll 11863 Springs Road, Building 2 Verdant Formulas 220 820 820 NNN Conifer Speech, Languages Service 260 800 800 NNN Fireside Arts & Music 290 1600 1600 NNN Total Building 2 7750 7750 $ 4,251.50 $ 4,060.90 $8312.40
Operating Data Building 2 11873 Spring Road Building 2 EXPENSES Bank Charges $ 67.19 Business Licenses Fire/Security $ 598.30 Insurance $ 3,732.16 Professional Fees $ 4,296.50 Property Management $ 6,372.40 Repair & Maintenance $ 13,317.16 Snow Removal $ 3,253.64 Supplies $ 10.35 Taxes $ 16,083.20 Trash Removal $ 1,567.13 Utilities Expense $ 3,741.32 Water & Septic $ 1,168.32 TOTAL EXPENSES $ 54,168.12 Total Square Feet 7750
Location Highlights Situated between Morrison and Bailey, the Conifer area is a charming mountain destination with an elevation of 8,277 feet, located along U.S. Route 285 and nestled in the foothills southwest of Denver. Here you ll find great restaurants, festivals, and outdoor activities. Our residents and visitors enjoy mountain biking, hiking, rock climbing, four wheeling, camping, cross country skiing, snow shoeing, sledding and so much more! Conifer truly is a great choice for living, raising a family, working and enjoying the great outdoors.
Demographics Data provided by Co-star