316 Aspen Ave Fruita, CO 81521-2504

Property Details for 316 Aspen Ave

Year built

2007

Construction

STEEL FRAME

Lot size

1.77 lot acres

Property size

14,406 SF

Zone code

DCRD

Property type

Retail space

APN

2697-172-29-002

APU

269717229002

Description

This exceptional investment opportunity presents a fee-simple, single-tenant retail property in Fruita, Colorado, within the Grand Junction MSA. The 14,406 square foot building, constructed in 2007, is 100% occupied by a credit-rated Walgreens under an absolute NNN lease with a corporate guarantee, expiring June 30, 2033. This provides a substantial remaining lease term of 8.6 years, offering significant long-term stability. The property boasts a strong sales history and a current net operating income (NOI) of $355,000, translating to a 6.80% cap rate and a price per square foot of $362.35. Located at 316 W Aspen Ave, 81521, this highly visible property sits on a signalized corner, offering excellent accessibility and exposure. Its strategic location is further enhanced by its proximity to Interstate 70 and James M. Robb - Colorado River State Park. The lease includes fifty, one-year options, providing additional long-term growth potential. An assumable loan with a favorable 3.82% interest rate is available (see offering memorandum for details). All property maintenance responsibilities fall solely on the tenant. This is a rare opportunity to acquire a high-performing Walgreens location with minimal landlord responsibilities and significant upside potential. The property's APN is 2697-172-29-002.

Location Insight

City

Fruita

County

Mesa

State

Colorado

Longitude

-108.737

Latitude

39.1583

CBSA code

24300

CBSA name

GRAND JUNCTION, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments