OFFERING SUMMARY
Price: $760,720
CAP Rate: 6.5%
Gross Leasable Area: 4,700 SF
NOI: $49,447
OFFERING HIGHLIGHTS
- Brand New 10-Year Extension with Increases Executed in 2020
- Double Net Lease with New roof in 2020
- Strong Market Demographics and Commitment to Location
- Ideally Located Between Fort Collins and Denver
INVESTMENT OVERVIEW
Marcus & Millichap is pleased to present qualified investors the unique opportunity to acquire a high-performing EZ Pawn property located in Garden City, Colorado. EZ Pawn corporate executed a brand new, 10-year extension with two, five-year options including 10% increases built-in. The property, which has been a pawn shop for decades, is in an exceptionally strong location for the tenant, demonstrated by the fact that the tenant was willing to extend for 10 additional years prior to the expiration of the lease. The location is a double net in nature, with a brand new roof that was put on by the owner in 2020.
EZ Pawn has been in existence since 1974 and is headquartered in Austin, Texas. They have a strong presence across the county and have flourished over the past few decades. Garden City is located in the Greely, Colorado MSA which has seen explosive population growth over the last few years. Located between Fort Collins and Denver, Garden City has benefited greatly from the population influx of both of these cities. The subject property is well located in a strong retail corridor, just down the street from several major retailers including Mcdonald’s, Taco Bell, and Wendy’s.
