This is an investment opportunity that can’t be ignored … and won’t last long!
Priced at $2,357,000 or $548 per square foot, and a 7.0% Cap Rate
Net leased investment in Canon City, Colorado with upside. Tenant is successful Denny’s Restaurant with
a brand new 17 year NNN lease executed 3/15/08 with 10% increases every five
years and two five year options. Property
was built in 2005 and is adjacent to Holiday Inn Express and Chili’s
Restaurant. Extra land is included in
sale for further development of approximately .9 acre. Land is perfect for national fast-food or
coffee credit tenant. Denny’s is the most
recognized name in family dining and is the largest full-service family
restaurant chain in the United
States. Most Denny’s are normally open 24 hours a day 7 days a week. At year end 2007, there were 1,546 Denny’s
restaurants: 394 were owned and operated by the company and 1,152 were operated
under franchise and licensing agreements.
Historic Canon City, Colorado is the county seat for
Freemont county, and is located 35 miles West of Pueblo, CO and 37 miles
Southwest of Colorado Springs, CO with a population of more than 16,000 people,
and provides over 48,000 county residents with a wide array of retail, medical,
and business services. Canon City has a diverse
economy supported by tourism, regional retail, and federal/state corrections
facilities. Hwy 50 is the primary E/W
artery between Pueblo, Salida, Montrose and Grand Junction Colorado. Located at the foot of the Rockies and along
the banks of the Arkansas River, visitors and residents enjoy a temperate
climate, making Canon City an ideal location for outdoor recreation
including golf, biking, as well as fishing, rafting, kayaking and other
river-oriented activities including the world famous Royal Gorge Bridge.
The downtown shopping district offers many local boutiques, art galleries,
merchants, and restaurants in the quaint atmosphere of Colorado's largest historical commercial
district. A recently expanded Fremont Regional Airport,
St. Thomas More hospital (an acute care facility with recent renovations of
$18MM), and federal/state correctional facilities are primary employers and
benefits from the conveniently located Pueblo Community College/Freemont
Campus.
For all the details on this and other commercial investment opportunities, contact:
Thomas G. Morgan
CMCommercial
866-539-1777
morgantg@gmail.com









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