Walgreens
| Status | Sold |
|---|---|
| Price | $8,728,400 |
| Cap Rate | 5.00% |
| NOI | $436,422 |
| Lease Type | Absolute NNN |
| Lease Term | 15-years |
| Lease Start | 2/6/2020 |
| Lease Expiration | 2/28/2035 |
| Building Size | 20,782 SF |
| Lot Size | 2.62 AC |
Overview
Located 65 miles south of Denver, the property is centrally located amid a dense Colorado Springs corridor in West Wind Marketplace. The established Garden of Gods commercial corridor, boasting a critical mass of retailers, is just north of the property.
Major tenants in the immediate area include Costco, Safeway, Lowe’s, Kohl’s, Petco, Staples, FedEx, Goodwill, Dollar Tree, Bonefish Grill, Panera Bread, Chipotle, Chick-fil-A, Applebee’s Jimmy John’s, Smashburger, Starbucks, Einstein Bagels, Taco Bell, KFC and Sonic, among many others.
Walgreens is the only pharmacy located within a 1.5-mile radius and has the ability to serve a substantial customer base due to its proximity to various medical offices and clinics in the immediate area.
Colorado Springs (MSA population 738,939) is home to a large concentration of colleges including, Colorado Technical University Colorado Springs (enrollment: 25,517), UC Colorado Springs (enrollment: 12,932), Pikes Peak Community College (enrollment: 13,275, and Colorado College (enrollment:2,118), allowing Walgreens to serve a significant portion of this population.
