NNN Leased US Bank
680 Broadway Avenue | Bedford, OH
Sq. Feet 6,258
Marcus & Millichap is pleased to offer the fee-simple interest in the Big 5 Sporting Goods located in Cheyenne, Wyoming. The property is located in the dominant retail trade area of Cheyenne on Dell Range Boulevard, a few blocks east from the 481,801 square foot Frontier Mall regional mall, anchored by Sports Authority, Sears, JC Penney and Dillard’s. The Wal-Mart Supercenter entrance is next to the site and it is close to other major retailers, such as; Sam’s Club, Lowe’s, Target, K-mart, TJ Maxx, Ross and Petco.
Cheyenne is the capital and largest city of Wyoming, with steady employment provided by local and state Government, the US Air Force, and Burlington Northern Santa Fe and Union Pacific Railroads. The building is a single story, concrete tilt-up, with a flat roof and includes a large monument sign, which improves visibility. It was renovated in 2010 when Big 5 moved in. Big 5 has seven years remaining on a NNN lease with 10 percent rent increases every five years in both the initial term and the four five-year option periods. Big 5 signed this lease in January, 2010 at the bottom of the last retail cycle which shows the strong commitment and faith in this specific location and provides the Buyer with what is now a below market rental rate.
Cap Rate: 7.60% NOI: $103,088 Livable Sq. Ft: 11,705
Built in 1995 units Lot Sq. Ft: 42,782