7701 Hoke Rd
Retail | 8.40% CAP | 8,600 SqFt
Marketing description
CBRE, as exclusive agent, is proud to present the opportunity to purchase 7701 Hoke Road (the "Property"), a multi-tenant retail center shadow anchored by a well performing Walmart Supercenter with strong grocery store sales. Being located just off I-70, the Hoke Road trade area services the residents of Englewood, employees in the nearby distribution centers, and I-70 commuters across the Midwest.
7701 Hoke Road is currently 100.0% occupied by five tenants including Ascend Cannabis Dispensary, Hometown Primary Care, Englewood Tobacco and Vape, Great Clips, and Cricket Wireless. Ascend Cannabis Dispensary just executed a new 7-year triple net lease with 3.0% annual increases. The Property is 8,600 SF and has an average in-place rental rate of $23.21/SF with a remaining weighted average lease term of 3.2 years.
Investment highlights
- Shadow anchored by a well-performing Walmart
- Offered below replacement cost
- Located just off of I-70
- Stabilized opportunity with upside through contractural rent increases
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