Size: 75,831 s.f.
Location: Denver, CO
Major Tenants: YouFit, Mountain High Appliance, Total Wine (outparcel), Andy’s Frozen Custard (outparcel)
Status at Purchase:
Date: June 26, 2018
Purchase Rate: $10,850,000 ($143 psf / 8.0% cap rate)
Four-Part Business Plan:
Implement Capital Improvement Plan:
Address deferred maintenance, new monument sign.
Sell Andy’s outparcel (at a lower cap rate than purchase) and potentially sell two additional pad sites.
Reduce Operating Expenses:
Actively manage property utilizing SunCap’s platform and key vendor relationships in order to reduce operating expenses
Improve NOI by 17% over the five year holding period.
Equity Invested: $4,772,000
Forecast Investor Returns:
9+% current cash-on-cash
15+% IRR over five year hold
Investment Multiple: 1.8