littleton, co - Capital PacificCAP: 6.85% The subject property is a fully occupied strip retail center located ... Built in 2004, the property features handsome brick, stucco and glass

a suburban strip center in a high income Denver suburb12652 W. Ken Caryl Avenue, Littleton, CO 80127

ken caryl centerlittleton, co

Listed inconjunction with CO licensed broker: David Leuthold, Leuthold Commercial Properties [email protected] | (303) 871-9000

CHRIS [email protected] | (415) 274-2701 CA BRE# 01002010

ZEB [email protected] | (415) 274-2702 CA BRE# 01242540

DAVE [email protected] | (415) 274-7390CA BRE #: 01389761

JOSEPH CACCAMO [email protected] | [415] 274-7394CA BRE#: 01191110

For more info on this opportunity please contact:

Investment Highlights

RENTABLE SF . . . . . . . . . . 10,000 SF

PRICE PER SF . . . . . . . . . . $305

OCCUPANCY . . . . . . . . . . . 100%

LAND AREA . . . . . . . . . . . . 1.40 Acres

LEASE TYPE. . . . . . . . . . . . Net leases

YEAR BUILT . . . . . . . . . . . . 2004

PARKING . . . . . . . . . . . . . . 64 spaces

PARKING RATIO . . . . . . . . 6.4 per 1000

100% OCCUPIED NEIGHBORHOOD STRIP CENTER IN HIGH-INCOME DENVER SUBURB

12652 Ken Caryl Avenue, Littleton CO 80127

ADDRESS:

PRICE: $3,050,000

CAP: 6.85%

The subject property is a fully occupied strip retail center located in a highly affluent area of Denver.

The shopping center has five total tenants all paying at or below market rents on triple net leases with complete pass through of

operating expenses including management.

The property is located at a major intersection/off-ramp in West Denver.

KEN CARYL CENTER | 2

with excellent visibility >>

DESIRABLE LOCATION AND EXCELLENT VISIBILITY

Easy-to-manage, “daily needs” center featuring five tenants, with a prominent position at the southeast corner of W Ken Caryl Avenue and Route 470 in Littleton, Colorado. Property boasts incomes exceeding $124,000 within a one-mile radius.

Center is has prominent frontage on Ken Caryl Drive (22,000 ADT), which is a primary east/west arterial in Littleton and the gateway to the very affluent Ken Caryl residential neighborhood.

The shopping center is adjacent to a 46,000 square foot Safeway, across street from a 60,000 square foot King Sooper and one block from a Walgreens/Natural Grocers anchored center. The subject property sits on an intersection is a major daily needs, true neighborhood shopping location.

More than 123,000 people live within a 5-mile radius and average household incomes exceed $107,000.

Ken Caryl/Littleton is one of the most desirable residential communities in the Denver MSA and is approximately 9.7 miles (25 minute drive) from downtown Denver.

QUALITY CONSTRUCTION

Built in 2004, the property features handsome brick, stucco and glass construction, prominent facades for maximum retailer signage exposure, and ample parking

UPSIDE RENTS, STAGGERED LEASE EXPIRATIONS, 100% PASS THROUGH NET LEASES

Shop/inline rents for the adjacent centers average between $24 - $30/SF. Average rents for the Ken Caryl Shopping Center are $22/SF, indicating potential upside.

Market/below-market rents and staggered lease expirations mitigate rollover risk

100% passthrough net leases for all tenants

Core Characteristics

HIGHLY POPULATED AFFLUENT

AREA


S W

adsw

orth

Bou

leva

rd

S Ki

plin

g Pa

rkw

ay

W Ken Caryl Avenue

W Bowles Avenue

S Si

mm

s St

reet

S Pi

erce

Stre

et

470

470

121

121

285

KEN CARYL CENTERTHE MEADOWS

GOLF CLUB

RACCOON CREEK GOLF COURSE

DEER CREEK GOLF CLUB

Powderhorn Elementary

Kendallvue Elementary

Shaffer Elementary

Mortensen Elementary

Ken Caryl Middle School

Deer Creek Middle School

Columbine Hills Elementary

Stony Creek Elementary

Normandy Elementary

Aspen Creek Academy

Ute Meadows Elementary

Dakota Ridge High School Summit Ridge

Middle School

Chatfield Senior

High School

MEADOWS PLAZA

BOWLES CROSSING

SOUTHWEST PLAZA

DENVER470

22,657 DAILY

48,300 DA

ILY


This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

Income & Expense

Actual

Price: $3,050,000 NEW LOAN SCENARIO:

Capitalization Rate: 6.85% Orignal Loan Amount $2,135,000

Price Per Square Foot: $305.00 Current Loan Amount $2,135,000

Down Payment 30% $915,000 Interest Rate 4.45%

Loan Amount 70% $2,135,000 Amortization 25 Year

Total Leased (SF): 100.00% 10,000 Term 10 Year

Total Vacant (SF): 0.00% - Debt Service $141,678

Total Rentable Area (SF): 10,000 Monthly Debt Service $11,806.51

INCOME Per Square Foot Pre-Tax Cash Flow $67,215

Scheduled Rent $22.26 $222,625 Debt Coverage Ratio 1.47

Estimated Expense Recovery $11.33 $113,326 Cash on Cash 7.35%

EFFECTIVE GROSS INCOME $335,951 Principal Paydown (Year 1) $47,634

Market Vacancy Reserve (4%) ($13,438) Total Return $114,849

ADJUSTED GROSS INCOME $322,513 Yield 12.55%

EXPENSES Per Square Foot CURRENT DEBT SECURED AGAINST PROPERTY:

CAM Taxes -$5.54 ($55,407) Orignal Loan Amount $2,427,000

CAM Insurance -$0.78 ($7,764) Current Loan Amount $2,270,684

CAM Association Dues -$0.13 ($1,344) Interest Rate 6.21%

CAM Maint-Building -$1.67 ($16,669) Amortization 30 Year

Utilities -$2.24 ($22,357) Due 9/11/2016

Management Fee (3% of EGI ) -$1.01 ($10,079) Debt Service $178,560

Monthly Debt Service $14,880.00

TOTAL OPERATING EXPENSES -$11.36 ($113,620) Lender Type: CMBS

NET OPERATING INCOME $208,893 Pre-payment: Defeasance

CA

SH

FL

OW

& D

EB

T S

ER

VIC

E


This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

Rent Roll

Trade Name Sq. Ft. Unit Percent of

GLA

Lease

Start

Lease

Expiration

Monthly Base

Rent

Monthly

Rent/SF

Annual

Rent/SF

Annual

Rent

Lil' Riccis Pizza 2,800 A 28.00% 2/20/2005 2/28/2020 $6,068.42 $2.17 $26.01 $72,821.00

Increase 3/1/2016 2/28/2017 $6,250.50 $2.23 $26.79 $75,006.00

Increase 3/1/2017 2/28/2018 $6,438.00 $2.30 $27.59 $77,256.00

Increase 3/1/2018 2/28/2019 $6,631.42 $2.37 $28.42 $79,577.00

Increase 3/1/2019 2/28/2020 $6,832.08 $2.44 $29.28 $81,985.00

Blush Studio 1,500 B 15.00% 10/31/2014 12/31/2019 $2,500.00 $1.67 $20.00 $30,000.00

Increase 1/1/2018 12/31/2018 $2,575.00 $1.72 $20.60 $30,900.00

Increase 1/1/2019 12/31/2019 $2,652.50 $1.77 $21.22 $31,830.00

Option 1/1/2020 12/31/2024 FMR

Pho 92 2,000 C 20.00% 7/3/2012 10/31/2017 $3,333.33 $1.67 $20.00 $40,000.00

Increase 11/1/2015 10/31/2016 $3,500.00 $1.75 $21.00 $42,000.00

Increase 11/1/2016 10/31/2017 $3,666.67 $1.83 $22.00 $44,000.00

Option 11/1/2017 10/31/2020 $3,791.67 $1.90 $22.75 $45,500.00

Increase 11/1/2018 10/31/2019 $3,916.67 $1.96 $23.50 $47,000.00

Increase 11/1/2019 10/31/2020 $4,041.67 $2.02 $24.25 $48,500.00

USA Dry Cleaners 1,700 D 17.00% 5/1/2006 5/31/2016 $3,010.42 $1.77 $21.25 $36,125.00

Increase 6/1/2015 5/31/2016 $3,116.67 $1.83 $22.00 $37,400.00

Option 6/1/2016 5/31/2021 FMR

Pan Sushi Restaurant 2,000 E 20.00% 4/28/2011 7/31/2016 $3,642.42 $1.82 $21.85 $43,709.00

Increase 8/1/2015 7/31/2016 $3,751.67 $1.88 $22.51 $45,020.00

Option 8/1/2016 7/31/2021 $4,166.67 $2.08 $25.00 $50,000.00

Increase 8/1/2017 7/31/2018 $4,291.67 $2.15 $25.75 $51,500.00

Increase 8/1/2018 7/31/2019 $4,420.42 $2.21 $26.52 $53,045.00

Increase 8/1/2019 7/31/2010 $4,553.00 $2.28 $27.32 $54,636.00

Increase 8/1/2020 7/31/2021 $4,689.58 $2.34 $28.14 $56,275.00

Current Totals: 10,000 100.00% $18,554.58 $222,655.00

Occupied 10,000 100.00% $222,655.00

Vacant 0 0.00%

Annual RentMonthly Rent


Tenants

LIL’RICCI’SLil’ Riccis New York Pizza offers a wide range of tasty Italian cuisine, from pizza to pasta and everything in between. Its extensive menu also includes vegetarian and gluten free options, and dine-in customers also enjoy a full bar. Lil’Riccis prides itself on its family atmosphere and hosts a number of events throughout the year, such as summertime’s Music on the Patio, and also hosts birthday parties, fund raisers, and group parties. Lil’Ricci’s also offers takeout as well as catering services.

OKINAWA SUSHIOkinawa Sushi serves authentic Japanese cuisine and Sushi. With its trendy decor, patio seating, sushi bar, flat screen televisions, and happy hour specials, Okinawa has received excellent reviews, and prides itself on its ambiance and excellent food. Okinawa also offers online ordering, catering services, and is well equipped for hosting private events.

PHO 92Pho 92 is a casual dining Vietnamese restaurant, specializing in dishes such as pho noodle soup, grilled noodle bowls, and banh mi. Pho 92 offers both dine-in and take-out, and is well reviewed for its tasty, sizably-portioned dishes, and for its quick and friendly service.

BLUSH STUDIOSBlush Studios is a lifestyle studio and activewear boutique, featuring workout classes as well as activewear retail items. Blush Studios features barre and yoga classes, providing one-hour, full body workouts and a motivating community.

USA DRY CLEANERSUSA Dry Cleaners offer dry cleaning services at reasonable prices with a quick turn-around time.

USa Dry cleaners


Site Plan

Pho

92

USA

Dry

Clea

ners

Pan

Sush

i R

esta

uran

t

Ken Caryl Avenue 22,657 DAILY


W Ken Caryl Avenue

Shaf

fer P

arkw

ay

Cafe

Law Firm of Pickard and Ross,

P.C.

Site Plan


HIGH QUALITY

CONSTRUCTION

Photos


Regional Map

KEN CARYL CENTER

denver

28 Mins23 Miles

colorado springs

1 Hour69 Miles

boulder

45 Mins35 Miles


LITTLETON, CO

Littleton, CO is the county seat of Arapahoe County and has a population of approximately 44,300. Littleton is just over 20 miles from Denver, Colorado’s state capital, and a mere 35 miles from Boulder.

Littleton has a hometown, community feel, and offers an extensive park and trail system, and light rail access. Littleton’s small town feel and close vicinity to Denver make it an extremely attractive city to live, work, or play.

With a population of over 600,000, nearby Denver is the most populous city in the Front Range Urban Corridor, an urban region stretching across 18 counties in two states. The Denver-Aurora-Broomfield MSA includes the city of Denver and nine suburban counties and has a population of over 2.3 million.

The central part of the MSA includes the city and county of Denver and its three adjoining counties: Jefferson County to the west, Adams County to the north and east, and Arapahoe County to the south and east.

The Denver MSA has a gross metropolitan product of $157.6 billion in 2010, making it the 18th largest metro economy in the United States. Denver’s economy is based partially on its geographic position and its connection to some of the major transportation systems of the country.

Location & Demos

2013 HOUSEHOLD INCOMES

1-Mile 3-Mile 5-Mile

2010 5,268 59,178 121,1772013 5,245 59,918 123,2812018 5,318 61,629 127,454

1-Mile 3-Mile 5-Mile

Average $124,528 $114,412 $107,385Median $101,864 $93,610 $86,002

POPULATION

Employer US Government State of Colorado University of Colorado Systems Denver Public Schools

TOP EMPLOYERS IN DENVER


Copyright © 2015 [Capital Pacific Real Estate Brokerage Company]

A unique HUMANRESULTS-DRIVEN client experience

THE CAPITAL PACIFIC EXPERIENCE - OUR DAILY COMMITMENT TO OUR CLIENTS

[ www.CapitalPacific.com ]

CHRIS [email protected] | (415) 274-2701 CA BRE# 01002010

ZEB [email protected] | (415) 274-2702 CA BRE# 01242540

DAVE [email protected] | (415) 274-7390CA BRE #: 01389761

JOSEPH CACCAMO [email protected] | [415] 274-7394CA BRE#: 01191110

Listed inconjunction with CO licensed broker: David Leuthold, Leuthold Commercial Properties [email protected] m | (303) 871-9000


Documents

littleton, co - Capital PacificCAP: 6.85% The subject property is a fully occupied strip retail center located ... Built in 2004, the property features handsome brick, stucco and glass