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Walgreens | Approx 8yrs Remain Abs NNN 7390 Rangewood Dr

14,820 SF Retail Building Colorado Springs, CO 80918 $3,913,000 ($264/SF) 8% Cap Rate

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Investment Highlights

Over 6.5 Years Remaining | Options to Extend | Investment Grade (S&P: BBB) | Well-Known & Established Tenant
Strong National/Credit Tenants | Dense Retail Corridor | Chapel Hills East (245,000 SF Community Center)
Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Signalized, Hard Corner Intersection | State Highway 21 |Heavily Traveled Corridor | Centura St. Francis Hospital (364 Beds)

Executive Summary

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, investment grade (S&P: BBB), Walgreens investment property located in Colorado Springs, Colorado. The tenant, Walgreen Co., has over 6.5 years remaining with 10 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease is signed by Walgreen Co. (S&P: BBB) and is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Walgreens operates nearly 9,000 retail locations across America, Puerto Rico and the U.S. Virgin Islands, and serves approximately 9 million customers each day.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

14,820 SF

Building Class

Year Built

2005

Price

$3,913,000

Price Per SF

$264

Cap Rate

NOI

$312,975

Tenancy

Single

Building Height

1 Story

Building FAR

0.20

Land Acres

1.66 AC

Zoning

C6 - General Business

Parking

53 Spaces (3.58 Spaces per 1,000 SF Leased)

Frontage

211 FT on Rangewood Dr

Amenities

Corner Lot

Freeway Visibility

Signage

Signalized Intersection

Retailer
99,999 SF
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Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.