Walgreens NNN Retail
For Sale
Contact for pricing
835 E 17th Ave, Longmont, CO 80504
Income property leased to Walgreens with a co-located Village Medical clinic.
Property Size14,412 SF
Price / SF$294.22
Days on Market176
Property Features for 835 E 17th Ave
General Information
Standard status
Active
Size
14,412 SF
Property subtype
Retail
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$339,227
Building Details
Year Built
2003
Tenancy
Single
Listing Agency:
Bang Realty
(888) 737-2264
Listed By:
Brian Brockman · License #BRK.200900214
Source:
Crexi
Added: Mar 9
Changed: Aug 30
Last Checked: Aug 30 at 6:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bang Realty
Investment Insights
Based on property information with market context.
This 14,412-square-foot retail property was built in 2003 and is occupied by Walgreens alongside a Village Medical clinic. The asset is subject to a triple-net lease, with the tenant responsible for property expenses. The current lease term extends through July 31, 2028, and includes ten five-year renewal options.
The property is located at 835 E 17th Ave in Longmont, Colorado. Within a 1-mile radius, average household income is $117,577, while the 5-mile population exceeds 94,000. Longmont is part of Colorado’s innovation and advanced manufacturing corridor, with CHIPS Zone designation, Enterprise Zones, municipal gigabit broadband through NextLight, and regional activity from technology, aerospace, robotics, and hardware companies.
The property is located at 835 E 17th Ave in Longmont, Colorado. Within a 1-mile radius, average household income is $117,577, while the 5-mile population exceeds 94,000. Longmont is part of Colorado’s innovation and advanced manufacturing corridor, with CHIPS Zone designation, Enterprise Zones, municipal gigabit broadband through NextLight, and regional activity from technology, aerospace, robotics, and hardware companies.
Key Highlights
- Triple‑net lease with Walgreens responsible for all property expenses
- Current lease term runs through July 31, 2028
- Includes ten (5‑Year) renewal options
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$174,522
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,490,440
$3.5M
Cap Rate 7%
$2,493,171
$2.5M
Cap Rate 9%
$1,939,133
$1.9M
Market Conditions
NOI Build-Up for 14,412 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$259.4K $18.00/SF
− Vacancy
−$26.7K −$1.85/SF
EGI
$232.7K $16.15/SF
− OpEx
−$58.2K −$4.04/SF
NOI
$174.5K $12.11/SF
Area
Weld County, CO
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,490,440
Cap Rate 7%
$2,493,171
Cap Rate 9%
$1,939,133
Alternative Uses
Best Use
Specialty Retail
$2.49M
$2.18M – $2.91M
NOI $174,522 @ 7.0% cap · market cap 4.12%
Second Best
Retail
$2.33M
$2.04M – $2.71M
NOI $162,887 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office B
$2.63M
$2.30M – $3.06M
NOI $183,861 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
272
Businesses Nearby
Explore this area
Business Placement
Demographics for 80504, CO
60,183
Population
23,359
Households
2.6
Avg Household Size
38
Median Age
43%
College-Educated
93%
High-School Grad
94.6 sq mi
ZIP Area
636
Density / Sq Mi
$109,671
Median Household Income
$54,317
Median Earnings
$1,895
Median Rent
$556,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Income property leased to Walgreens with a co-located Village Medical clinic.
Where is this nnn property located?
The property is located at 835 E 17th Ave Longmont, CO.
What is the asking price?
The asking price for this property is $4,240,337.
What are key features of this property?
This property features: Triple‑net lease with Walgreens responsible for all property expenses; Current lease term runs through July 31, 2028; Includes ten (5‑Year) renewal options
