Michaels NNN Property For Sale — Colorado Springs, CO
7664 N Academy Blvd, Colorado Springs, CO 80920
This 20,257 square-foot Michaels property is situated on a 1.88-acre lot, offering ample parking, prominent pylon signage, and convenient signalized access within the established Chapel Hills Retail Area. Michaels recently extended its lease, which is corporately guaranteed, with just under ten years remaining and a rent increase scheduled in the sixth year. The location benefits from robust traffic counts on Academy Boulevard (53,000 VPD) and Briargate Boulevard (22,000 VPD), and is a half-mile from I-25 (133,000 VPD). Surrounded by national retailers, the property serves an affluent community with an average household income exceeding $99,000 within a five-mile radius. It is also in proximity to significant recreational facilities and a short drive from the Colorado Springs Airport and…
- Address: 7664 N Academy Blvd, Colorado Springs, CO 80920
- Asking price $4.62M
- 6.08% cap rate
- NOI $280,896
- 9.1 years remaining
- NNN lease
Asset type: NNN