A Chili’s Bar & Grill located in Westminster, Colorado is on the market for $3,215,000. The property features a single-tenant retail space on a 1.320-acre site, with a current occupancy rate of 100% and a cap rate of 5.75%. The net operating income (NOI) is reported at $184,900.
The restaurant is secured with a triple-net lease, which has a recent 10-year extension set to expire on June 30, 2035. The lease includes contractual rent increases and two renewal options of five years each. The location has been in operation since 1985 and is anchored within the Towne Center at Brookhill, a large shopping center offering diverse retail and dining options.
With its strategic position, the site benefits from significant daily traffic, with over 80,750 vehicles passing by daily on major roads. The property is offered without existing debt on an “As-Is/Where Is” basis.
This offering reflects long-term stability and potential for future rent growth, appealing to investors looking for established retail investments in growing markets.
Source: Property Listing