15301 E Iliff Ave Aurora, CO 80231

Property Details for 15301 E Iliff Ave

Year built

2002

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.62 lot acres

Property size

14,176 SF

Property type

Drug stores

APN

1975-29-2-22-003

APU

197529222003

Description

This fee-simple Walgreens, located at 15301 E Iliff Ave, Aurora, CO 80013, presents a compelling investment opportunity. Built in 2002 and boasting 14,176 square feet on a 1.62-acre lot, this property benefits from a recently extended, absolute NNN lease with Walgreens, a corporate-guaranteed tenant, expiring October 31, 2033. The lease commenced October 22, 2021, and includes a remaining term of 8.9 years with 5% rent bumps every 5 years, providing a built-in hedge against inflation. The property enjoys a high visibility location at a signalized intersection with over 79,000 vehicles per day and proximity to Interstate 225 (over 176,000 vehicles daily). It's situated in a robust retail corridor with national retailers and benefits from its proximity to numerous senior living facilities and The Medical Center of Aurora. Aurora's strong growth, fueled by new developments and Buckley Space Force Base, further enhances the property's value. The asking price is $7,265,262, representing a price per square foot of $513 and a 6.50% cap rate with a current NOI of $472,242. The lease offers 13, 5-year options. This is a rare opportunity to acquire a well-positioned, high-performing retail asset with significant long-term growth potential.

Location Insight

City

Aurora

County

Arapahoe

State

Colorado

Longitude

-104.809

Latitude

39.6753

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments