This Retail Property is Off-Market.

18620 E. Iliff Ave.
Aurora, CO 80013 ·

14,490 SF · Retail For Sale

N/A

Print

Walgreens Denver MSA 7% cap 15 yr. Rem Term !!

Price N/A Occupancy 100%
Building Size 14,490 SF No. Stories 1
Property Type Retail Tenancy Single
Property Sub-type
Free Standing Bldg
More...
  • Street Retail
  • Retail Pad
  • Anchor
Year Built 2003
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 2.05 AC
Cap Rate 7%
Listing ID: 17935684 Date Created: 12/03/2012 Last Updated: 05/08/2013

Description

Only $2.6 mil cash down for fully amortizing loan. 7.85% total return including principal amortization. OWN THIS PROPERTY "FREE AND CLEAR" IN 15 YEARS...

This Walgreens store is strategically located on the signalized corner intersection of E.Iliff Ave. and Park Rd. with very high daily traffic counts of approx. 49,000+ veh/day. Oversized 2+ acre lot. The surrounding area is characterized by dense residential housing, public schools, and churches. This store operates under extended hours, staying open until 12 midnight 7 days/week.

Debt in place to be assumed. Current balance of approx. $2,730,000 @ 6.45% with approx.15 years remaining (fully amortizing i.e. loan will be fully paid off by the end of the initial lease term). Approx. $279,690 /yr debt service which equates to approx. 3.5% cash on cash return or a total return including principal amortization of approx. 7.85%. Return increases each year with amortization ! Own the property "free and clear" after 15 years !

Aurora is less than 20 minutes from the state capital of Denver. It is one of the principal cities of the Denver MSA with a population of 325,000+, making it the third most populous city in Colorado. In 2008, Aurora was designated an All-America City by the National Civic League.

Founded in 1901, Walgreens provides the most convenient access to consumer goods and services, and pharmacy, health and wellness services, in America. The company has pioneered many modern store and pharmacy features, some of which have become standards in the industry. Walgreens is a Fortune "50" national credit tenant (traded under the symbol "WAG") with an S&P "A" rating and is listed among Fortune Magazine's "Most Admired Companies", the "Platinum 400 List" and "40 Best Stocks to Retire On".

Highlights

  • Approx. 15 years remaining on primary lease term.
  • Approx. 7.85% return on cash including amortization.
  • Part of expanding, Denver MSA w/ strong demos.
  • Freestanding corner building.
  • High traffic location; open until midnight 7 days/week.
  • Own the property "free and clear" in only 15 years !

Research

18620 E. Iliff Ave., Aurora, CO 80013 (Arapahoe County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

Aurora Market Trends - Asking price index trends, sale price trends, asking rent trends

Similar Listings

The LoopNet service and information provided therein, while believed to be accurate, are provided "as is". LoopNet disclaims any and all representations, warranties, or guarantees of any kind.

I am a place holder, please don't judge me!!! (no, I judge you!)