Historical Retail Sale Listing - Walgreens Denver MSA 7% cap 15 yr. Rem Term !!

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

18620 E. Iliff Ave., Aurora, CO 80013

N/A

14,490 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
14,490 SF
Property Type:
Retail
Property Sub-type:
Free Standing Bldg
Additional Sub-types:
Street Retail
Retail Pad
Anchor
Property Use Type:
Net Lease Investment with
10+ years left on lease
Cap Rate:
7%
Occupancy:
100%
No. Stories:
1
Tenancy:
Single
Year Built:
2003
Lot Size:
2.05 AC
Listing ID
17935684
Last Updated
over 1 year ago

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 !

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".

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

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

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Created 12/3/2012