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33522793
33522786

938 S Townsend Ave, Montrose, CO 81401

BS
CA CA 01239109
Marcus & Millichap - San Francisco
RW
CA CA 01815949, NV NV: S.0201770
Marcus & Millichap - San Francisco
Listed by Marcus & Millichap - San Francisco
$2,997,670
2 days on market
Updated 2 days ago

Alta Convenience

Details
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 1,710
Cap Rate 5.75%
NOI $172,366
Occupancy 100%
Tenancy Single
Brand/Tenant Alta
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 01/31/2041
Remaining Term 14.6
Rent Bumps Yes
Lease Options Four, 5-year
Acreage 0.850
Investment Type Net Lease
Lease Commencement 02/01/2021
Ground Lease No
Ownership Fee Simple

14+ YEARS REMAINING ON ABSOLUTE NNN LEASE | POTENTIAL BONUS DEPRECIATION

Marketing description

This Absolute NNN lease investment opportunity features the Alta Convenience store located at 938 S Townsend Ave in Montrose, CO. The property fronts Highway 550, the main commercial corridor through Montrose and the major highway connector between Grand Junction and Durango. The location offers excellent visibility along this key route and is surrounded by nearby national tenants including Safeway, Dairy Queen, O'Reilly Auto Parts, Verizon, Holiday Inn Express, Dunkin', Jimmy John's, and Little Caesars.

The property is within two blocks of Montrose High School, Pomona Elementary School, and the local middle school with a combined student population of approximately 1,753. Montrose is a growing regional hub in western Colorado, ideally situated on the Uncompahgre River at the gateway to the San Juan Mountains and the Black Canyon of the Gunnison. The area serves as a regional service center for surrounding rural communities while also drawing visitors year-round for hiking, skiing access, fishing, and national park tourism.

Investment highlights

  • Absolute NNN Lease - zero landlord responsibilities
  • 14+ years remaining on Lease
  • Potential bonus depreciation
  • Tenant operates 140+ locations

Listing Contacts

BS
CA CA 01239109
Marcus & Millichap - San Francisco
RW
CA CA 01815949, NV NV: S.0201770
Marcus & Millichap - San Francisco
Listed by Marcus & Millichap - San Francisco

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$172,366.00
$14,363.83/mo

Valuation Metrics

0
DSCR
5.75%
Cap Rate
5.75%
ROI

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Additional Information

Name
Adam Lewis
License
ER.100091205
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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