3870 Paris Street
- 3870 Paris Street, Denver, CO 80239
- Property Type:
- Multi Tenant
- Cap Rate:
- Square Feet:
- 28,000 sqft
- Price Per Square Foot:
100% OCCUPIED, TRIPLE-NET LEASED, MULTI-TENANT INDUSTRIAL PROPERTY
The subject property is a 28,000 SqFt multi-tenant industrial building housing four tenants with an average rent rate of $7.95/SF. Each tenant is signed to a triple-net lease, 3% rent annual rent increases are included in three of the four leases.
BELOW MARKET IN-PLACE RENTS
Blue Ocean of Colorado, Inc., one of the tenants with freezer cooler capacity, is currently paying only $6.08/SF while market asking rents are $8.50/SF-$10/SF+. Their lease expires March 31st, 2022 allowing an investor to capture rental upside in the first year of ownership.
CLOSE PROXIMITY TO HEAVILY UTITLIZED TRANSIT ROUTES VIA I-70 (220,000 VPD), I-225 (158,000 VPD), AND I-270 (80,000 VPD)
The I-70 (220,000 VPD) and I-225 (158,000 VPD) interchange is located 1.15 miles from the property, while the I-70 and I-270 interchange is located only 2.3 miles away. The subject property benefits from this strategic location between these highly trafficked interchanges.
DIRECT ACCESS TO I-70 VIA PEORIA INTERCHANGE, PEORIA LIGHT RAIL STATION
The subject property is located just a few hundred feet from direct access to east and west bound on-ramps/offramps to I-70 at Peoria. This allows for quick and efficient transit routes, in contrast to many of the other exits in the I-70 corridor. The Peoria Light-Rail Station is also within walking distance from the subject property and connects Denver International Airport to Downtown Denver via the A-Line.
RECENTLY UPDATED ROOF, NUMEROUS ACCESS POINTS, AND COLD STORAGE
The roof received a silicone coating (GESCM) in 2020, and includes a 15-year transferable warranty. Also featured are 10 dock high doors, providing optimal access for logistics companies. Four Rentable units are also available with two of those units including cold storage space.
67% OF GLA LEASED TO EXPERIENCED OPERATORS WITH NUMEROUS LOCATIONS
Wismettac Asian Foods (11,300 SF) has been in operation since 1912 with 47 locations across the globe, generating $1.52 billion in sales during FY 2020. R.S. Hughes Company (7,350 SF) has 50 locations across the US and Mexico and has been operating since 1954.
LOCATED JUST NORTH OF ANSCHUTZ/FITZSIMONS MEDICAL COMPLEX, LIFESCIENCE DISRICT (UNDER DEVELOPMENT)
At 578 acres, Fitzsimons is one of the largest medical developments in the country. It draws approximately 60,000 visits per day and employ over 21,000. Included in the development are University of Colorado Anschutz Medical Campus, Children’s Hospital Colorado, Veterans Affairs Medical Center, Anschutz Health Sciences.