Walgreens

11602 West 64th Avenue, Arvada, CO
Deal Type:
Net Lease
Price:
$4,825,000
Cap Rate:
7.00%
Current Rent:
$337,525
Lease Type:
Triple Net
Lease Term:
11 years
Landlord Responsibilities:
None
Renewal Options:
12, 5-year options
Building Sq. Ft.:
13,501 SF
Rent Increases:
5% every 5 years
Site Size:
1.79 Acres

Investment Highlights

  • Corporate Lease: Walgreens entered into an initial 11-year lease, guaranteed by Walgreens Corporate, a Fortune 500 company with an S&P credit rating of BBB-.
  • Passive Ownership Opportunity: The tenant is responsible for all Taxes, CAM, and insurance, providing no landlord ownership responsibilities.
  • Scheduled Rent Increases: The lease calls for rental increases of 5% every five years including the option periods.
  • Interstate Access: Strategic Positioning, Located on West 64th Avenue (23,279 VPD), a major arterial road with significant daily traffic, ensuring high visibility and accessibility.
  • Denver-Aurora-Lakewood Metropolitan Statistical Area (MSA): Arvada has an affluent customer base, with an average household income of $116,086 within 5 miles of the site.
  • Retail Synergy: Walgreens is well-placed within a dense retail corridor with neighboring businesses including grocery stores, restaurants, and other essential services, which boosts foot traffic and cross-shopping opportunities.
  • Nearby National Retailers: Additional national retailers in the area include McDonalds, Taco Bell, KFC, Burger King, and Sonic.

Listing Agents

Dean Copans

Managing Director
650 465 3993
[email protected]

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