Property Overview
Price/Rent PSF $ 3,295,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 6,983
Date Available 08/07/2019
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Floors 1
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Description

Location
The property benefits from excellent visibility provided by Academy Boulevard. and is surrounded by national retailers such as King Soopers, The Home Depot, Marshalls, Sams Club, Whole Foods and REI. Colorado Springs is the second most populous city in Colorado and the 48th most populous city in the United States with an estimated MSA population of 609,000. The city is located approximately 60 miles south of Denver on I- 25.

Colorado Springs’ economy is driven primarily by the military, high-tech industry, tourism and education. Major defense industry employers include: Northrop Grumman, Lockheed Martin, ITT, L-3 Communications, Harris Corporation, Boeing and General Dynamics. Universities include: the United States Air Force Academy, Colorado College, and the University of Colorado at Colorado Springs. Major military bases in the city include Fort Carson, Peterson Air Force Base and NORAD.

Sale
Mimi’s Cafe occupies the property under a 20 year absolute triple net (NNN) lease which commenced on 12/20/2000 and expires on 12/21/2020. Rent increases every five years. The lease includes two five (5) year options to renew. The tenant is responsible for all property taxes, insurance, common area maintenance, and roof and structure. There are no landlord responsibilities.

The subject property was built in 2000 specifically for Mimi’s Cafe. The 6,982 square foot
restaurant property is situated on a 47,480 square foot lot located at the corner of Academy
Boulevard. and East Woodmen Road.

Location