Black-eyed Pea at Towne Center at Brookhill

5,500 SF | Retail Building | Westminster, CO 80021 | $2,200,000 ($400/SF) | 6% Cap Rate

Asking Price $2,200,000

Property Type: Retail, Restaurant
Square Feet: 5,500 SF
Price / Square Foot: $400

Listing Contacts

Matt Henrichs

Verified Profile

Parker Brown

Verified Profile

Property Info

Property Overview

CBRE, Inc. is pleased to exclusively offer a single-tenant Black-eyed Pea restaurant located in Westminster, Colorado (Denver MSA). The offering is inclusive of a single-tenant NNN lease with 10 years remaining on the lease term. The lease is corporately secured by RMR Colorado, LLC, who operates all the Black-eyed Pea locations throughout Colorado.
The Offering features a 5,500-square foot freestanding retail facility built in 1986. The Property is located adjacent to the Towne Center at Brookhill, a 26.85-acre retail development that features an array of daily need goods and services, discount soft goods merchandise, entertainment and quick-serve dining, making it a top destination for local and regional consumers.
The location benefits from a hard corner, lighted entrance off of West 88th Avenue and high barriers to entry in a entirely built out retail trade area. With convenient access along two of the main traffic arteries in Westminster, West 88th Ave and Wadsworth Blvd, drive by exposure is over 80,750 vehicles per day. This strategic location is just 2 miles from the US 36 and Sheridan Avenue interchange, midway between Denver and Boulder on the US 36 tech corridor.
Black-eyed Pea is an American homestyle restaurant chain featuring traditional Southern U.S. cuisine. Founded in 1975 by Dallas restaurateurs Gene Street and Phil Cobb, the first restaurant opened in Oak Lawn, Texas. The chain has 8 locations in Colorado and one in Texas (under separate ownership).
Black-eyed Pea is being offered free and clear of existing debt on an “As-Is/Where Is” basis.

Property Details

Class: B
Year Built: 1986
Stories: 1
Lot Size (sq. ft): 28,750 SF

Highlights

Tenant has operated at this location since 2011
Tenant recently executed a 10-year renewal in August 2024
New Roof installed in 2020

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