12011 Iliff AveAurora, CO 80014

Property Details for 12011 Iliff Ave

Year built

2007

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.23 AC

Property size (Sq ft)

11,299 SF

Property type

Retail properties

Property subtype

Drug stores

APN

1973-26-1-45-001

APU

197326145001

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $3,117,540

  6.5%

  $2,877,729

  7%

  $2,672,177

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,585,602

  Geo Method

  $2,352,479

• Alternative Use

  Use

  Valuation

  Residential

  $2,427,472

  Hospitality

  $2,223,551

  Educational

  $1,849,969

  Medical

  $1,913,592

  Retail

  $2,877,729

Location Insight

City

Aurora

County

Arapahoe

State

Colorado

Latitude

39.6752

Longitude

-104.848

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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