VICKERS PLAZA SHOPPING CENTER 2310-2340 VICKERS...
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westward properties RETAIL CENTER FOR SALE VICKERS PLAZA SHOPPING CENTER 2310-2340 VICKERS DRIVE | COLORADO SPRINGS, CO
Transcript of VICKERS PLAZA SHOPPING CENTER 2310-2340 VICKERS...
westwardp r o p e r t i e s RETAIL CENTER FOR SALE
VICKERS PLAZA SHOPPING CENTER2 3 1 0 - 2 3 4 0 V I C K E R S D R I V E | C O L O R A D O S P R I N G S , C O
westwardp r o p e r t i e s VICKERS PLAZA SHOPPING CENTER
2310-2340 VICKERS DRIVE | COLORADO SPRINGS
westwardprop.com
westwardp r o p e r t i e s VICKERS PLAZA SHOPPING CENTER
2310-2340 VICKERS DRIVE | COLORADO SPRINGS
westwardprop.com
OFFERING PROCEDURESWestward Properties is pleased to offer 2130 Vickers Drive for sale at a list price of $2,995,000.00.
Seller will provide a package of due diligence documents to any interested party who executes a separate non-disclosure agreement.
Interested parties may offer on the property by submitting (a) The buyer’s offer as a letter of intent which specifies desired purchase price, closing terms, earnest money amount and any contingencies as well as (b) a brief description of the purchaser and/or purchasing entity and (c) proof of funds equal to no less than 20% of the prospective buyer’s bid price.
Seller will not except an earnest money deposit below $25,000, to be held in escrow at a title company of Seller’s choosing. All bids will be consid-ered based on their price, terms, and buyer’s ability to close.
Please feel free to contact the brokerage team with any questions.
WESTON THOMASPrincipal
COLIN THOMASAssociate Broker
westwardp r o p e r t i e s VICKERS PLAZA SHOPPING CENTER
2310-2340 VICKERS DRIVE | COLORADO SPRINGS
westwardprop.com
EXECUTIVE SUMMARYWestward Properties, as exclusive agent, is pleased to present the outstanding opportunity to acquire this 20,341 SF fully-leased retail center (“the Property”). Well located just off of Colorado Springs’ Academy Blvd, the Property represents a unique opportunnity to own a recently-updated, fully-leased project in the heart of Colorado Springs. Located minutes from I-25, seconds from Academy blvd, and moments from National dining and shopping options, The Property is well-positioned in the redeveloping North Academy corridor. At $2,995,000 this is an opportunity to acquire a center with great access, proximity to national retail and a newly updated exterior at and 7.87% cap rate (based on in-place rent) and a per square foot price substantially below replacement cost.
BUILDING SQUARE FOOTAGE 20,341
LAND AREA (ACRES) 1.77
ASKING PRICE $2,995,000.00 ($147 PSF)
# OF TENANTS 10
OCCUPANCY % 100%
NET OPERATING INCOME (NOI) $235,672.50
CAP RATE 7.87%
AVERAGE LEASE TERM 4.1 YEARS
YEAR BUILT 1984
3 Mi 5 Mi 7 Mi
HOUSEHOLD INCOME $78,504 $79,260 $83,568
POPULATION (2017) 15,943 106,948 263,654
HOUSEHOLDS (2017) 6,563 43,459 104,801
HOUSEHOLDS (2022 EST) 6,999 46,401 111,964
GROWTH 2010-2017 8.92% 9.55% 10.20%
GROWTH EST 2017 - 2022 6.65% 6.75% 6.85%
THE INFORMATION IN THIS OFFERING MEMORANDUM ARE FROM SOURCES DEEMED BY WESTWARD PROPERTIES TO BE RELIABLE. BROKERS AND PROSPECTIVE BUYERS SHOULD PERFORM THEIR OWN DUE DILIGENCE AND TREAT THE INFORMATION CONTAINED HEREIN ONLY AS MARKETING MATERIAL WHICH SHOULD NOT BE SOLELY RELIED UPON FOR UNDERWRITING OR ANALYSIS PURPOSES. A FULL SET OF DUE DILIGENCE DOCUMENTATION IS AVAILABLE TO PROSPECTIVE BUYERS WHO EXECUTE A SEPARATE CONFIDENTIALITY AGREEMENT.
