11602 64th Ave Arvada, CO 80004-4313

Property Details for 11602 64th Ave

Year built

1996

Construction

STEEL FRAME

Lot size

1.79 lot acres

Property size

13,428 SF

Property type

Retail space

APN

39-081-01-050

APU

3908101050

Description

This exceptional investment opportunity presents a 13,501-square-foot Walgreens located at 11602 W 64th Ave, Arvada, CO 80004, in Jefferson County. The property sits on a 1.79-acre lot and boasts a 7.00% cap rate with a strong NOI of $337,525. The absolute NNN lease, with a corporate guarantee from Walgreens, commenced September 1, 2022, and extends to September 1, 2033, with a remaining term of 8.8 years. Rent increases of 5% every five years are built into the lease, including option periods, offering significant long-term growth potential. The property benefits from its strategic location on West 64th Avenue (23,279 vehicles per day), a major arterial road ensuring high visibility and accessibility. Arvada's affluent customer base, with an average household income of $116,086 within a 5-mile radius, contributes to the property's strong performance. The site is part of a vibrant retail corridor, surrounded by complementary businesses including grocery stores, restaurants, and other essential services, further enhancing foot traffic and cross-shopping opportunities. Nearby national retailers include McDonald's, Taco Bell, KFC, Burger King, and Sonic. This passive ownership opportunity requires no landlord responsibilities as the tenant covers all taxes, CAM, and insurance. The property was built in 1996 and enjoys 100% occupancy. This is a rare chance to acquire a high-performing, low-maintenance investment with a blue-chip tenant.