10501 Colfax AveAurora, CO 80010

Property Details for 10501 Colfax Ave

Year built

1996

Lot size

1.99 AC

Property size (Sq ft)

13,378 SF

Property type

Retail properties

Property subtype

Retail space

APN

R0097196

APU

R0097196

Description

Exceptional opportunity to lease a ±13,500 square foot single-tenant medical or creative office space located at 10501 E Colfax Avenue in Aurora, Colorado. This former Walgreens location boasts a prime position at the northeast corner of Havana Street and E Colfax Avenue, a high-traffic intersection with approximately 42,000 vehicles per day. The building features ample parking with approximately 85 spaces, convenient front and rear access, and prominent building and pylon signage. Built in 1996, the property is zoned Mixed Use Original Aurora General (OA-G), offering flexibility for various permitted uses (pharmacy use is prohibited). The space includes a drive-thru. The suggested annual rent is $185,000, modified gross (Real Estate Taxes are included; repairs and maintenance, insurance, and utilities are tenant expenses). The lease term extends to August 31, 2035 (co-terminus with the master lease). The property is offered "as-is." The location is highly desirable, situated in a densely populated area of the Denver MSA (approximately 89,000 residents within a two-mile radius) and approximately 1.5 miles from the University of Colorado Medical Campus, which includes two hospitals. All offers are subject to the approval of Walgreens Co.'s Real Estate Committee.

• CAP approach

  CAP return

  Valuation

  6%

  $3,691,162

  6.5%

  $3,407,227

  7%

  $3,163,854

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,613,346

  Geo Method

  $2,785,332

• Alternative Use

  Use

  Valuation

  Residential

  $2,874,124

  Hospitality

  $2,632,682

  Educational

  $2,190,360

  Medical

  $2,265,690

  Retail

  $3,407,227

Location Insight

City

Aurora

County

Adams

State

Colorado

Latitude

39.7406

Longitude

-104.865

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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