For Sale
$6,448,092

12011 Iliff AveAurora, CO 80014

High-performing Walgreens, strong location.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 11,034 square-foot Walgreens pharmacy in Aurora, Colorado. Located at a high-traffic intersection (69,000+ VPD) on E. Iliff Ave and S. Peoria St, this single-story, 2007-built property boasts an absolute NNN lease with a corporate guarantee from Walgreens (NASDAQ: WBA). The 25-year lease, commencing December 2007, has approximately 8 years remaining. The property benefits from its proximity to the Medical Center of Aurora, a major healthcare system, and is situated within a densely populated area with over 169,200 residents within a 3-mile radius. The property's location within Aurora's strong retail corridor, near other major retailers like Target and Costco, ensures high visibility and consistent traffic. The Walgreens store is a top performer, reporting sales exceeding $3 million annually. The 1.23-acre lot offers excellent ingress and egress, and the property features a drive-thru for added convenience. This investment offers a 6.50% cap rate and a price per square foot of $584.38. The property's strong tenant, prime location, and long-term lease make it an attractive investment opportunity. The current occupancy is 100%, with an occupancy date of December 12, 2007.

Highlights

  • Walgreens (WBA) is the tenant, a Standard & Poor's "BBB-" rated company with over $139 billion in annual revenue. The store generates over $3 million in sales, exceeding national averages.
  • Absolute NNN lease with zero landlord responsibilities. The 25-year lease, starting in 2007, has ~8.75 years remaining.
  • Walgreens relocated to this larger prototype store in 2007 due to strong performance, demonstrating long-term tenancy. Walgreens is ranked #18 on the Fortune 500.
  • High-visibility location at a signalized intersection (S. Peoria St & E. Iliff Ave) with over 69,002 daily vehicles. Less than one mile from I-225 (152,000 VPD).
  • Strong retail location in a desirable submarket (2.2M SF retail, 3.7% vacancy). Surrounded by major retailers including Costco, Safeway, Lowe's, Home Depot, Best Buy, and Sam's Club.
  • Closest national pharmacy chain to the Medical Center of Aurora (346 beds, 1,200+ employees). Less than one mile from Aurora's strongest retail corridor (Havana Retail District).

Property Details for 12011 Iliff Ave

Property type
Retail properties, Drug stores
Square Feet
11,034 SF
Year Built
2007
Buildings
1
Stories
1
Lot Size (sq. ft)
53,579 SF

Location Insight

City
Aurora
County
Arapahoe
State
Colorado
Latitude
39.6752671
Longitude
-104.8482858
12011 Iliff Ave, Aurora, Colorado

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12011 Iliff Ave
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