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This value add opportunity is for the purchase and sale of a seasoned master lease on a small strip center in beautiful Canon City, Colorado. (Master Lease only - no Real Estate being conveyed). This marketplace center has a total of 36,532 rentable space under roof with 78.6% fully leased and paying rent with some good franchise tenants, and a regional counseling center. Ideally located in the center of Canon City, Colorado with highly visible and accessible US Highway 50, and the frontage road on Fremont Drive. Good looking building and a big marquee signage for the tenants. Canon City, Colorado is hailed as the climate capital of Colorado with mild summers, and pleasantly comfortable winters. Known for its high tourism rate and great as a retirement community, Canon City has a variety of lifestyles and age groups throughout. This master lease shows a nice net cash flow and a current e...
This value add opportunity is for the purchase and sale of a seasoned master lease on a small strip center in beautiful Canon City, Colorado. (Master Lease only - no Real Estate being conveyed). This marketplace center has a total of 36,532 rentable space under roof with 78.6% fully leased and paying rent with some good franchise tenants, and a regional counseling center. Ideally located in the center of Canon City, Colorado with highly visible and accessible US Highway 50, and the frontage road on Fremont Drive. Good looking building and a big marquee signage for the tenants. Canon City, Colorado is hailed as the climate capital of Colorado with mild summers, and pleasantly comfortable winters. Known for its high tourism rate and great as a retirement community, Canon City has a variety of lifestyles and age groups throughout. This master lease shows a nice net cash flow and a current expiration date of December 31st, 2029. The lease also contains 11 automatic extensions of 5 years each reaching all the way out to 2084. The future of this lease is very secure. The franchise tenants include Harbor Freight, T-Mobile, and AutoZone, all with renewable extensions built within them, and reaching out to as far as 2048. Along with its 36,532 square feet of improvements, the property also includes approximately an additional 65,000 square feet of paved parking.
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