330 North Institute is a recently renovated, single-tenant, absolute net lease retail investment located on the hard corner of a busy intersection in the popular Shooks Run neighborhood. The property is home to Switchback Coffee Roasters and Café, which has become a staple in the Colorado Springs coffee scene. Switchbacks is a popular gathering place city wide.
Cap Rate: 6.75%
Lease Expiration: March 2025
Lease Term: Five (5) Years, with Two (2) Five (5) Year Options to Renew at Market Rate
About the Tenant:
Switchback’s slogan is Excellent Coffee, For Everyone.
Switchback has been in business for over 10 years. They just opened their 2nd café in the Hillside neighborhood, moved their roastery to the Knob Hill neighborhood, and have expanded their café seating area at 330 North Institute, nearly doubling its size. There has been a café at this location for over 15 years and Switchback has been here for over 6 years.