Salem Square Shopping Center Listing Details & Market Data

It is located on East Mississippi Avenue in the City of Aurora, Colorado. The property caters to the diverse and dense population in the area. Approximately 36,000 vehicles per day pass the property on East Mississippi Avenue every day. Access to the property is provided by one full access point and one right in right out on East Mississippi Avenue as well as three full access points on South Salem Street on the east side of the property.Salem Square is a neighborhood shopping center totaling approximately 95,931 square feet. It is located on East Mississippi Avenue is the City of Aurora, Colorado. The property caters to the diverse and dense population in the area. Approximately 36,000 vehicles per day pass the property on East Mississippi Avenue every day. Access to the property is provided by one full access point and one right in-right out on East Mississippi Avenue as well as three full access points on South Salem Street on the east side of the property. Salem Square was constructed between 1979 and 1984. The Seller has made nearly $450,000 of capital improvements since July 2018; approximately $300,000 parking lot, $80,000 landscape and $70,000 exterior paint. In addition, the seller has replaced all roofs and a majority of RTU’s at a cost excessing $1,300,000. The property consists of 5 one story buildings situated on a site of approximately 6.8 acres. Salem Square is currently 100% leased to 24 tenants. Current in place rents range from $5.92 per square foot to $20.10 per square foot with an average of $11.32. All leases are NNN with the exception of one tenant and most include a 15% admin fee. Offered $136.56 psf, Salem Square offers a savvy investor the opportunity to acquire a well-positioned, stable asset at below new construction costs.Salem Square is a neighborhood shopping center totaling approximately 95,931 square feet. It is located on East Mississippi Avenue is the City of Aurora, Colorado. The property caters to the diverse and dense population in the area. Approximately 36,000 vehicles per day pass the property on East Mississippi Avenue every day. Access to the property is provided by one full access point and one right in-right out on East Mississippi Avenue as well as three full access points on South Salem Street on the east side of the property. Salem Square was constructed between 1979 and 1984. The Seller has made nearly $450,000 of capital improvements since July 2018; approximately $300,000 parking lot, $80,000 landscape and $70,000 exterior paint. In addition, the seller has replaced all roofs and a majority of RTU’s at a cost excessing $1,300,000. The property consists of 5 one story buildings situated on a site of approximately 6.8 acres. Salem Square is currently 100% leased to 24 tenants. Current in place rents range from $5.92 per square foot to $20.10 per square foot with an average of $9.82. All leases are NNN with the exception of one tenant and most include a 15% admin fee. Offered $136.56 psf, Salem Square offers a savvy investor the opportunity to acquire a well-positioned, stable asset at below new construction costs.