7390 Rangewood Dr Colorado Springs, CO 80918

This exceptional investment opportunity presents a fee simple interest (land and building) in a 14,820 square foot Walgreens located at 7390 Rangewood Dr, Colorado Springs, CO 80918. The property sits on a 1.66-acre lot with 53 parking spaces and benefits from a highly visible location at a signalized intersection. The Walgreens, built in 2005, features a drive-thru and operates under an absolute NNN lease with a corporate guarantee from Walgreens. The current lease has 6.1 years remaining with 10 five-year renewal options, providing significant long-term stability. The property boasts a strong NOI of $313,000, resulting in an 8.00% cap rate and a price per square foot of $264.04. The asking price is $3,913,000. The property is zoned C6: General Business and enjoys excellent visibility due to its location near State Highway 21 and the Chapel Hills East community center, which includes major retailers such as Whole Foods, Nordstrom Rack, and Best Buy. The surrounding area features a dense population with high average household incomes exceeding $122,000 within a 3-mile radius, and a strong concentration of national credit tenants, including Walmart, Sam's Club, and Home Depot. Proximity to Centura St. Francis Hospital further enhances the property's desirability. This is a truly management-free investment opportunity with significant upside potential.