770 Gold Hill Place hl
Woodland Park, CO 80863
Gold Hill Shops · Commerce de détail Propriété À vendre

VALUE-ADD MULTI-TENANT RETAIL OPPORTUNITY
The 15,000 SF subject property is currently 27.48% occupied with a 10,878 SF junior box
vacancy remaining. The vacancy is adjacent to a City Market (Kroger) grocery store, exposing
the existing vacancy to plentiful consumer foot traffic.
GROCERY SHADOW ANCHORED – GOLD HILL MARKETPLACE
The subject property is a part of Gold Hill Marketplace, a 90,142-grocery anchored (City Market)
shopping center. The center’s City Market saw over 560K visits per Placer.ai in the trailing
twelve months, providing ample foot traffic. City Market is King Soopers’ (Kroger) trade name
within mountain towns in Colorado.
NO USE RESTRICTIONS, RARELY SEE ADJACENT TO GROCER
Leasing the 10,878 SF vacancy is at $10.00/SF + NNN expenses is projected to bring the property’s
net operating income to $168,597. Stabilizing the asset would equate to a cap rate of 11.24%.
HIGH BARRIERS TO ENTRY IN SUPPLY CONSTRAINED MOUNTAIN TOWN
There has not been a retail building delivered in Woodland Park over the last five years. The
last completed retail project was in 2019 when a 13,337 SF Natural Grocers was delivered to
the southeast end of town. The scarcity of developable retail land creates demand for welllocated
retail space in Woodland Park like the subject property.