4089 Tutt Blvd, Colorado Springs, CO 80922
4,867 SF Specialty Building Offered at $6,500,000 at a 6% Cap Rate in Colorado Springs, CO 80922
For Sale
Active
Asking Price $6,500,000
- Property Type
-
Specialty
- Square Feet
- 4,867 SF
- Price / Square Foot
- $1,336
Listing Contacts
Tyler Strauss
Hunter Steffien
Property Overview
BROKER OF RECORD - JULIE MCBREARTY - SullivanHayes Brokerage - CO BR License: FA1000441441
Faris Lee Investments is pleased to present the rare opportunity to acquire the fee simple interest in a brand new, drive-thru, net leased Tommy’s Express Car Wash property in Colorado Springs, Colorado. The subject property is adjacent to a Costco Wholesale location and a Target-anchored 1.5M square foot power center. This drive-thru express car wash will be commencing a fresh 20+ year lease with 10% rental increases occurring every 5 years of the lease term, at the close of escrow.
The subject property is situated amongst the premier national retailers and economic drivers located on Tutt Boulevard and around Powers Boulevard (66,000+ VPD). Neighboring retailers driving customer traffic include Costco, Target, TJ Maxx, JoAnn, Ross, Sprouts, JCPenney, Cinemark, Chick-fil-A and more. These retailers are supported by over 223,500 residents within a 5-mile radius. Colorado Springs is one of the fastest growing MSAs in the United States, and expects to be the largest city in the state of Colorado by 2050.
Faris Lee Investments is pleased to present the rare opportunity to acquire the fee simple interest in a brand new, drive-thru, net leased Tommy’s Express Car Wash property in Colorado Springs, Colorado. The subject property is adjacent to a Costco Wholesale location and a Target-anchored 1.5M square foot power center. This drive-thru express car wash will be commencing a fresh 20+ year lease with 10% rental increases occurring every 5 years of the lease term, at the close of escrow.
The subject property is situated amongst the premier national retailers and economic drivers located on Tutt Boulevard and around Powers Boulevard (66,000+ VPD). Neighboring retailers driving customer traffic include Costco, Target, TJ Maxx, JoAnn, Ross, Sprouts, JCPenney, Cinemark, Chick-fil-A and more. These retailers are supported by over 223,500 residents within a 5-mile radius. Colorado Springs is one of the fastest growing MSAs in the United States, and expects to be the largest city in the state of Colorado by 2050.
Property Details
- Class
- B
- Year Built
- 2021
- Stories
- 1
- Property Subtype
- Car Wash
- Lot Size (sq. ft)
- 97,574 SF
Highlights
- Tommy’s Express Car Wash Adjacent to Costco Wholesale and Target Shopping Centers
- Single Tenant, Freestanding Express Car Wash
- Large 2.24 Acre Parcel
- Qualifies for Bonus Depreciation Benefits
- Absolute NNN Lease: No Landlord Responsibilities
- Long Term 20 Year Lease with Rental Increases Every 5 Years
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