Salem Square Shopping Center

12405 East Mississippi Avenue, Aurora, CO 80012

  • For Sale $13,100,000
  • Property Type Retail
  • Property Size 95,931 SF
  • Units 28
  • Lot Size 6.82 Acre
  • Property Tenancy Multi-Tenant
  • Year Built 1979
  • Year Renovated 1984
  • Date Updated Jan 29, 2024
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.

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Attachments

Contacts

broker

Mark Pyms

Panorama Commercial Group

(303) 966-0690

Location

Getting Around

  • Walk Score ®

    79/100 Very Walkable
  • Transit Score ®

    37/100 Some Transit
  • Bike Score ®

    72/100 Very Bikeable
Powered by Walk Score ®
  • City Aurora, CO
  • Neighborhood Aurora Hills
  • Zip Code 80012
  • Market Denver

Points of Interest

  • Florida

    0.98 miles

  • Aurora Metro Center

    1.57 miles

  • 2nd Avenue & Abilene

    1.84 miles

  • Iliff

    1.89 miles

  • Nine Mile

    2.73 miles

  • 13th Avenue

    2.85 miles

  • Colfax

    3.13 miles

  • Fitzsimons

    4.01 miles

  • Dayton

    4.15 miles

  • Yale

    4.82 miles

  • Shell

    0.17 miles

  • SemaCharge

    0.17 miles

  • Maverik

    0.57 miles

  • GE WattStation

    0.95 miles

  • Sam's Club

    0.96 miles

  • Shell

    1.12 miles

  • eVgo

    1.16 miles

  • Exxon

    1.21 miles

  • Costco Gasoline

    1.24 miles

  • Conoco

    1.27 miles

  • Free Patient & Visitor Parking

    0.68 miles

  • Parking Garage (Public & Private)

    0.77 miles

  • Handicapped & Valet Parking

    0.80 miles

  • Visitor/Handicapped

    0.94 miles

  • Expo Park

    1.05 miles

  • Faculty & Staff

    1.18 miles

  • Drive-thru Wait

    1.21 miles

  • Handicapped

    1.33 miles

  • Parking & Solar Panels

    1.49 miles

  • Alameda & Havana Park-n-Ride

    1.49 miles

  • Saigon Bistro

    0.07 miles

  • The Porklet

    0.08 miles

  • KP Asian Cafe

    0.11 miles

  • Burger King

    0.13 miles

  • Fortune Kitchen

    0.16 miles

  • Thai Flavor

    0.16 miles

  • Meskerem

    0.19 miles

  • Domino's

    0.23 miles

  • Nixtamale Tortilleria and Bakery

    0.24 miles

  • Waffle House

    0.30 miles

  • Safeway

    0.10 miles

  • Burlington

    0.97 miles

  • Sprouts Farmers Market

    0.99 miles

  • Walmart Supercenter

    1.03 miles

  • Kohl's

    1.03 miles

  • Target

    1.07 miles

  • JCPenney

    1.24 miles

  • King Soopers

    1.26 miles

  • Denver Halal Market

    1.29 miles

  • Macy's

    1.34 miles

Frequently Asked Questions

What is the lease rate for Salem Square Shopping Center?

Rental asking rate at Salem Square Shopping Center is $6,550,000.00/YR.

What is the total square footage of Salem Square Shopping Center?

Salem Square Shopping Center totals 95,931 square feet.

When was this property built?

Salem Square Shopping Center was built in 1979.

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Contact Listing Broker

broker

Mark Pyms

Panorama Commercial Group

(303) 966-0690