STREAM Capital Partners > Properties > All Properties > Walgreens

Walgreens

Net Lease

2921 N Nevada Ave, Colorado Springs, CO
Price:
$4,436,000
Cap Rate:
7%
Current Rent:
$310,500
Tenancy:
Single Tenant
Lease Type:
Triple Net
Lease Term:
11 years
Landlord Responsibilities:
None
Renewal Options:
12, 5-year options
Building Sq. Ft.:
13,500 SF
Rent Increases:
5% every 5 Years
Site Size:
1.35 Acres

Investment Highlights

  • Commitment to the Site: Walgreens signed a new 13-year, Absolute NNN Lease, with 5% bumps ever 5 Years
  • Interstate Access: Located near the intersection of Nevada Avenue (20,506 VPD), a primary north-south route in Colorado Springs, offering easy access to I-25, the main interstate running through Colorado.
  • Colorado Springs MSA Location: Colorado Springs has an affluent customer base, with an average household income of $84,956 within 5 miles of the site.
  • Proximity to University of Colorado Colorado Springs: The property is located just 2 miles from UCCS, which has 11,431 students enrolled, providing a steady customer base for the Walgreens store.
  • High Visibility and Traffic Counts: The property is prominently located on the hard corner of East Fillmore Street (34,921 VPD) and North Nevada Avenue, which experience significant traffic, enhancing the store’s visibility and accessibility.
  • Nearby National Retailers: Additional national retailers in the area include McDonalds, Taco Bell, KFC, Burger King, and Sonic.
Price:
$4,436,000
Cap Rate:
7%
Current Rent:
$310,500
Lease Type:
Triple Net
Lease Term:
11 years
Landlord Responsibilities:
None
Renewal Options:
12, 5-year options
Building Sq. Ft.:
13,500 SF
Rent Increases:
5% every 5 Years
Site Size:
1.35 Acres

Listing Agents

Dean Copans

Managing Director
650 465 3993[email protected]

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