For Sale
$5,220,000

316 Aspen AveFruita, CO 81521

Fruita, CO: Strong Sales, 8.6 Years Remaining

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional investment opportunity presents a fee-simple, single-tenant retail property in Fruita, Colorado, within the Grand Junction MSA. The 14,406 square foot building, constructed in 2007, is 100% occupied by a credit-rated Walgreens under an absolute NNN lease with a corporate guarantee, expiring June 30, 2033. This provides a substantial remaining lease term of 8.6 years, offering significant long-term stability. The property boasts a strong sales history and a current net operating income (NOI) of $355,000, translating to a 6.80% cap rate and a price per square foot of $362.35. Located at 316 W Aspen Ave, 81521, this highly visible property sits on a signalized corner, offering excellent accessibility and exposure. Its strategic location is further enhanced by its proximity to Interstate 70 and James M. Robb - Colorado River State Park. The lease includes fifty, one-year options, providing additional long-term growth potential. An assumable loan with a favorable 3.82% interest rate is available (see offering memorandum for details). All property maintenance responsibilities fall solely on the tenant. This is a rare opportunity to acquire a high-performing Walgreens location with minimal landlord responsibilities and significant upside potential. The property's APN is 2697-172-29-002.

Highlights

  • Fee-simple, single-tenant Walgreens retail property in Fruita, CO (Grand Junction MSA).
  • Absolute NNN lease with zero landlord responsibilities; corporate guarantee.
  • High-performing location with strong sales; nearest competitor 11.1 miles away.
  • Assumable financing available at 3.82% interest (see offering memorandum).
  • Signalized corner lot with excellent visibility and I-70 proximity.
  • Located 0.6 miles from James M. Robb - Colorado River State Park.

Property Details for 316 Aspen Ave

Property type
Retail properties, Drug stores
Square Feet
14,406 SF
Year Built
2007

Location Insight

City
Fruita
County
Mesa
State
Colorado
Latitude
39.1581459
Longitude
-108.7366176
316 Aspen Ave, Fruita, Colorado

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316 Aspen Ave
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