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SimplyTrue Automotive Group

2100 Devereux Road, Glenwood Springs, CO 81601

$2,281,000

Cap Rate 6.00%

Views: 60 DOM: 81 Updated: 06.19.24 Posted: 06.19.24 Status: Active

Summary

Price $2,281,000
Built/Renov 1995
Tenant SimplyTrue Automotive Group
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,200
Lease Start 08-01-2024
#Units 14
Price/SF $543.10
Expiration 07-31-2039
Tenant Type Automotive
NOI $136,872
R. Term 14.11
Ownership Fee Simple
Rent/SF $32.59
Increases 1.5%/1/yrs
Pop 5Mi 12,789
Lot/AC 0.75
Options 4/5yrs/1.5%
AHHI 5Mi $118,367

Matthew Mousavi
SRS National Net Lease Group
Contact

Patrick Luther
SRS National Net Lease Group
Contact

Lease Highlights

  • Brand-new 15-year lease with 4 (5-year) options to extend
  • The lease features 1.5% annual rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

SimplyTrue Automotive Group is strategically located on Devereux Road, with access to 12,000 vehicles passing by daily. The property is situated just south of U.S. Highway 6, a major east/west thoroughfare with 27,000 VPD. Additionally, it is in proximity to Glenwood Meadows Shopping Center, which features well-known national tenants such as Lowe’s Home Improvement, Target, Marshalls, and Big...

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Key Features

  • Build to suit

  • Near major nationals

  • Strategically located

  • Freeway visibility

  • Affluent AHHI $100K 5 Mi

  • Brand new lease

  • Long 15+ yr lease

  • Absolute NNN

  • Accelerated depreciation

  • Corporate Guarantee

    • ...

Links

SimplyTrue Automotive Group Wikipedia Glenwood Springs, Colorado Zip Code 81601 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

SimplyTrue Automotive Group was formed in October of 2021 when leaders within SimplyEuro, TRUE Automotive, and Blair Automotive set out to create the new industry standard for automotive service...


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Listing Broker

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