Walgreens – Strong Sales – 14 Year NNN Lease

316 W Aspen Ave, Fruita, CO 81521, USA
$6,173,913

Description

Marcus & Millichap is pleased to present for sale this 14,490 square foot net leased Walgreens on 1.77 acres located in Fruita, Colorado. Fruita is a prosperous high desert-town on the Colorado
River with world-class mountain biking trails, hiking and a firstclass downtown area, with a population exceeding 18,349.
Minutes from this property is Colorado Canyons Hospital and Medical Center which just completed in 2018 a $4.5 Million dollar expansion project to complete its Transitional Care Program. Fruita Monument High School is five minutes from this Walgreens with an enrollment of 1,284 students. Two miles from this Walgreens is the Colorado State University Fruita Research Station with over 80 acres and conducting some of the leading agricultural research in the U.S. Also in close vicinity to the property is The Colorado River State Park, open all year with 63 campsites and attracting tourists year-round for fishing, camping and wildlife watching opportunities.
Strategically located on the hard-signalized intersection of West Aspen Avenue and Highway 30, and at the exit of Interstate-70, the property benefits from its visibility to over 43,500 vehicles
each day. The population in the area is 18,349 with an average household income exceeding $75,112 annually. This long- term fee-simple Walgreens has strong performing sales and is ideally
located on a highly trafficked signalized corner.
There are numerous national and regional retailers in close vicinity including Burger King, NAPA, UHaul, Pizza Hut, Dollar General, Shell, Jimmy John’s and Starbucks as well as many more.
Walgreens (NYSE:WBA) is a publicly traded company with an S & P Credit Rating of BBB and is ranked #17 in the Fortune 500 (2019). 2018 Revenues for Walgreens exceeded $131.537 billion and 2018 Net Profits of $5.024 Billion. There are over 8,200 Walgreens stores operating in all 50 States as well as The District of Colombia, Puerto Rico, and Guam.

  • Walgreens Corporate Guarantee (NYSE: WBA) – Investment Grade Tenant (S&P BBB)
  • Absolute NNN – Zero Landlord Responsibility
  • Located on Highly Visible Signalized Intersection
  • Approximately 14 Years remaining in Initial 25-Year Term
  • Exposure to more than 43,500 Vehicles Per Day
  • House Hold Income Exceeding $75,112 in Market Area
  • Drive-Thru Pharmacy
  • Large 1.77-Acre Parcel of Land

Property Documents

  • City: Fruita
  • State/county: Colorado
  • Zip/Postal Code: 81521
  • Country: United States

Detail

  • Price: $6,173,913

Additional details

  • CAP Rate: 5.75%
  • NOI: $355,000

Features