A Sinclair gas station in Lakewood, Colorado, is up for sale with an asking price of $2.9 million. The property, located at 3505 S Kipling St, features a convenience store and is offered through a sale-leaseback investment model.
The gas station has a single brand tenancy under Sinclair with a remaining lease term of 20 years. The net rentable area is 230 square feet, and it currently operates at full occupancy with a net operating income of $203,000. The investment has a cap rate of 7.00%.
Built in 1976 and renovated in 1990, the property spans 0.45 acres and includes eight fuel pumps. The investment features a lease with rent escalations of 10% every five years and provides zero landlord responsibilities.
The site is positioned at a signalized corner location, enhancing accessibility for traffic connecting Denver and Lakewood. It is in proximity to major athletic complexes, golf courses, and recreational parks, driving consistent local traffic. The surrounding area is characterized by high-income households and is reportedly limited in competition due to an ordinance against new gas stations approved for 2025.
Source: Property Listing