Year Build: 1977
Building Size: 2,400 SqFt.
No of Stories: 1
Total Lot Area: 0.00 Acre
No of Parking: 9
No of Total Units: 1
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Heating and Cooling
Building Class: Not Specified
Property on Ground Lease?: No
Net Lease Investment?: No
Business Price Included?: No
Roofing: Not Specified
Occupancy: 100%
Full Description
Prominently located on the hard corner of 3rd Street and Highway 105 in Monument, Colorado, this absolute net single tenant 7-Eleven is the first gas station visible off of Interstate 25's southbound exit 161. Interstate 25 connects Denver and Colorado Springs and traffic counts exceed 54,000 vehicles per day at exit 161. Highway 105 enjoys traffic counts that exceed 18,000 vehicles per day and is the main retail corridor in Monument with tenants such as Safeway, Starbucks, McDonald's, Taco Bell, Arby's, Big O Tires, Walgreens, Wells Fargo, First National Bank, and several others.
As well as having other national tenants nearby, the subject property lies 1.7 miles northeast of Lewis Park High School with a student body of over 1000 students. 7-Eleven has shown their commitment to the site by signing a brand new 10-year absolute net lease in 2013 with rent increasing from $4,200 per year to $86,000 per year. Included in the lease is 10 percent rent increases every five years (increases in options included) and two, 5-year options to extend.