Iliff Village Center For Sale: Multitenant Commercial Asset Aurora, Colorado (Denver MSA)
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For Sale:
Iliff Village Center
Multitenant Commercial Asset
Aurora, Colorado (Denver MSA)
Iliff Village Center
Table of Contents
Exclusively Listed By
2. Table of Contents Justin Brockman
3. Investment Overview (M) 303-993-9803
4. Investment Highlights Justin@Brockman.Group
5. Property Photos
6. Rent Roll Chris Student
(M) 952-201-5676
7. Rent Roll
Chris@Brockman.Group
8. Financials
9. Aerial
10. Contact
2
Iliff Village Center
Investment Overview
Location
2295 S Chambers Rd
Aurora, CO 80014
Price
$4,500,000
NOI
$302,236 (Year 1)
Cap Rate
6.72% (Year 1)
Size
19,825 SF (Building)
1.75 AC (Land)
Price/SF
$226/SF: Below Replacement
Cost and Comparable Properties
Located at A+ Intersections in
Denver/Aurora MSA
3
Iliff Village Center
Investment Highlights
Access
• Signalized, 4-Way
Intersection
• Occupies the Most Desirable,
Monument Signage End Cap Space
• Prominent Monument Sign • Only Paying $11/SF
with Excellent Visibility • Represents a Significant
Value Add Opportunity
Value Add Opportunity
• Below Market In-Place Rents Immediate Area Development
• Value Creation Through
Lease-Up Parq at Iliff Station Apartments
High Traffic Volume • 100 Class A Apartment Units
• S Chambers Rd: Over 34,000 VPD • Delivers Nov 2018
• E Iliff Ave: Over 41,000 VPD
Hampton Inn & Suites
Strong Submarket • 130 Room Hotel
• Over 95% Occupancy • Delivers Jan 2019
Iliff Station Apartments
Long-Term Tenancy
• The Current Tenants Have • 316 Class A Apartment Units
Occupied Their Space For an • Delivers May 2020
Average of 12 Years
4
Iliff Village Center
Property Photos
5
Iliff Village Center
Rent Roll
Tenant Name Current Current Years In Unit SF PRS Current Annual Annual Rent Lease Options
Lease Start Lease End Center Rate Rent Increase Type
El Lucerito Sep-2014 Aug-2019 7 A 2,400 12.11% $17.40 $41,760 N/A NNN None
Aurora Central Jan-2017 Dec-2019 21 C 1,200 6.05% $14.42 $17,304 3.00% NNN 1, 3 Year Option
Chiropractor
Kid’s Dental Sep-2011 May-2024 15 D 2,400 12.11% $18.75 $45,000 2.00% NNN 1, 5 Year Option
Flavor of Havana Aug-2016 Jul-2021 21 F 1,200 6.05% $17.50 $21,000 $0.50/SF on NNN None
8/1/2019
B&J Wireless Oct-2016 Sep-2020 7 G 1,200 6.05% $17.00 $20,400 $0.50/SF NNN None
Jackson Hewitt May-2018 Apr-2021 21 H 1,200 6.05% $16.50 $19,800 2.00% NNN None
Vacant N/A N/A N/A I 1,725 8.70% N/A N/A N/A N/A N/A
6
Iliff Village Center
Rent Roll
Tenant Name Current Current Years In Unit SF PRS Current Annual Annual Rent Lease Options
Lease Start Lease End Center Rate Rent Increase Type
Maytag Nov-2016 Oct-2021 8 J 2,400 12.11% $14.76 $35,417 3.00% NNN None
Vicky Le Nov-2017 Oct-2022 6 L 1,200 6.05% $17.50 $21,000 $0.50/SF NNN None
Sunburst Grill Sep-2003 Aug-2023 15 M 1,200 6.05% $20.00 $24,000 N/A NNN None
Buzz Barbershop May-2016 May-2022 2 N 1,200 6.05% $16.00 $19,200 $0.50/SF NNN None
7-Eleven Jan-2011 Dec-2020 9 O 2,500 12.61% $11.00 $27,500 N/A NNN 2, 5 Year Options
Total SF: 19,825 Occupied SF: 18,100
Occupancy: 91.30% Available SF: 1,725
7
Iliff Village Center
Financials
Year 1 Assumptions
Potential Gross Revenue Year 1
Scheduled Base Rental Revenue $318,150 • Scheduled Base Rental Income
Expense Reimbursement Revenue $175,405 reflects the current leases
• Operating Expenses reflect the as-is
Potential Gross Revenue $496,555
operation of the building
General Vacancy $15,908
Effective Gross Revenue $480,647
Operating Expenses
Property Tax $109,397
Insurance $10,198
Utilities $16,684
Trash $7,458
Repairs & Maintenance $6,114
Landscaping $8,269
Administration $414
Contractor Maintenance $2,037
Management $14,543
Total Operating Expenses $175,114
Net Operating Income $302,251
Cap Rate 6. 72%
8
Iliff Village Center
Aerial
34,300 VPD
Iliff Village
Center
E Iliff Ave 41,709 VPD
1 Mile
S Chambers Rd
9
Iliff Village Center
Contact
This confidential Offering Memorandum has been prepared by Brockman Group
LLC for use by a limited number of qualified parties. This Offering Memorandum has
been provided to you at your request based upon your assurances that you are a Exclusively Listed By
knowledgeable and sophisticated investor in commercial real estate projects and
developments. Brockman Group LLC recommends you, as a potential buyer/investor,
should perform your own independent examination and inspection of the property
herein and of all of the information provided herein related to the Property. By accepting
this Offering Memorandum, you acknowledge and agree that you shall rely solely upon
your own examination and investigation of the Property and you shall not rely on any
statements made in this Offering Memorandum or upon any other materials, statements
or information provided by Brockman Group LLC.
Justin Brockman
Brockman Group LLC makes no guarantee, warranty or representation about the
(M) 303-993-9803
completeness or accuracy of the information set forth in this Offering Memorandum.
You are responsible to independently verify its accuracy and completeness. Brockman
Justin@Brockman.Group
Group LLC has prepared the information concerning the Property based upon
assumptions relating to the general economy, its knowledge of other similar properties
in the market, and on other market assumptions including factors beyond the control of
Brockman Group LLC and the Owner of the Property. Brockman Group LLC makes no
representation or warranty as to either the accuracy or completeness of the information Chris Student
contained herein, and the information set forth in this Offering Memorandum is not
intended to be a promise or representation as to the future performance of the Property. (M) 952-201-5676
Although the information contained herein is believed to be accurate, Brockman Group
LLC and the Property Owner disclaim any responsibility or liability for any inaccuracies. Chris@Brockman.Group
Further, Brockman Group LLC and the Property Owner disclaim any and all liability for
any express or implied representations and warranties contained in, or for any omissions
from, the Offering Memorandum and for any other written or oral communication
transmitted or made available to you. Brockman Group LLC shall make available to you,
as a qualified prospective investor, additional information concerning the Property and an
opportunity to inspect the Property upon written request.
This Offering Memorandum and the contents are intended to remain confidential except
for such information which is in the public domain or is otherwise available to the
public. By accepting this Offering Memorandum, you agree that you will hold and treat
the Offering Memorandum in the strictest confidence, that you will not photocopy or
duplicate it, or distribute it. You agree you will not disclose this Offering Memorandum or
its contents to any other person or entity, except to outside advisors retained by you and
from whom you have obtained an agreement of confidentiality, without the prior written
authorization of Brockman Group LLC. You agree that you will use the information
in this Offering Memorandum for the sole purpose of evaluating your interest in the
Property. If you determine you have no interest in the property, kindly return the Offering
Memorandum to Brockman Group LLC at your earliest convenience.
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