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Walgreens 12011 E Iliff Ave 11,034 SF Retail Building Aurora, CO 80014 $5,588,000 ($506.43/SF) 7.50% Cap Rate
Investment Highlights
- Walgreens Co. – Strong corporate lease guaranty – Absolute triple-net (NNN) lease – Zero landlord responsibilities
- Strategic relocation store for Walgreens – Signalized hard-corner location – Visibility to 69,000 vehicles per day – Less than 1 mile from I-225
- Located near Buckley U.S. Air Force Base with 12,400 military and civilian personnel
- 20-year successful operating history – Strong historical annual sales reporting –$3.14MM (2025) – Ideal 13% rent-to-sales ratio (2025)
- 10 miles southeast of Denver – Prominent retail location – High barriers to entry – 2.2 million SF of retail – Low 3.7% retail vacancy rate
Executive Summary
Lee & Associates is pleased to present the opportunity to acquire a fee simple interest in a single-tenant Walgreens located in Aurora, Colorado, within the Denver MSA. The property consists of an approximately 11,034 square foot standalone pharmacy with a drive-thru, situated on a 1.23-acre parcel at 12011 E Iliff Avenue. Built in 2007, the asset is leased to Walgreens Co. under an absolute NNN lease structure, providing zero landlord responsibilities and stable, passive income.
Walgreens is a nationally recognized investment-grade tenant and one of the largest pharmacy operators in the United States, with thousands of locations nationwide and reported revenues exceeding $150 billion. This location has demonstrated long-term operational success, with nearly two decades of occupancy and strong reported sales exceeding $3.1 million, resulting in a favorable rent-to-sales ratio of approximately 13%. The lease features a remaining term through November 2032, along with multiple extension options, offering long-term income security backed by a corporate guaranty.
Walgreens is a nationally recognized investment-grade tenant and one of the largest pharmacy operators in the United States, with thousands of locations nationwide and reported revenues exceeding $150 billion. This location has demonstrated long-term operational success, with nearly two decades of occupancy and strong reported sales exceeding $3.1 million, resulting in a favorable rent-to-sales ratio of approximately 13%. The lease features a remaining term through November 2032, along with multiple extension options, offering long-term income security backed by a corporate guaranty.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
11,034 SF
Building Class
B
Year Built
2007
Price
$5,588,000
Price Per SF
$506.43
Cap Rate
7.50%
NOI
$419,100
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.23 AC
Zoning
B-1 - General Business
Parking
50 Spaces (4.53 Spaces per 1,000 SF Leased)
Frontage
Amenities
- 24 Hour Access
- Air Conditioning
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
-
Jan 0000
Walgreens began in Chicago in 1901, after pharmacist Charles R. Walgreen Sr. purchased the drugstore where a pharmacy career began. The company grew from a neighborhood drugstore into a broad retail health business offering prescription services, health and wellness products, photo services, home delivery, specialty pharmacy, and virtual healthcare. Walgreens serves customers through a wide network of community pharmacies and digital platforms, with a focus on accessible medicine, everyday essentials, and healthcare support.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | Jan 0000 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 1973-26-1-45-001 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,004,750 |
Property Taxes
Parcel Number
1973-26-1-45-001
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,004,750
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Walgreens | 12011 E Iliff Ave
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