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Walgreens Denver MSA 7% cap 15 yr. Rem Term !!
18620 E. Iliff Ave., Aurora, CO 80013
14,490 SF | Retail
Retail Property - Off Market
- Building Size:
- 14,490 SF
- Property Type:
- Property Sub-type:
- Free Standing Bldg
- Additional Sub-types:
- Street Retail
- Retail Pad
- Property Use Type:
- Net Lease Investment with
- 10+ years left on lease
- Cap Rate:
- No. Stories:
- Year Built:
- Lot Size:
- 2.05 AC
- Listing ID
- Last Updated
- 214 days ago
- 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 !
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".
Map of 18620 E. Iliff Ave., Aurora, CO 80013 (Arapahoe County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P