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Walgreens 12011 E Iliff Ave 11,034 SF Retail Building Aurora, CO 80014 $7,620,132 CAD ($690.60 CAD/SF) 7.50% Cap Rate

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Investment Highlights

Walgreens Co. – Strong corporate lease guaranty – Absolute triple-net (NNN) lease – Zero landlord responsibilities
Strategic relocation store for Walgreens – Signalized hard-corner location – Visibility to 69,000 vehicles per day – Less than 1 mile from I-225
Located near Buckley U.S. Air Force Base with 12,400 military and civilian personnel

20-year successful operating history – Strong historical annual sales reporting –$3.14MM (2025) – Ideal 13% rent-to-sales ratio (2025)
10 miles southeast of Denver – Prominent retail location – High barriers to entry – 2.2 million SF of retail – Low 3.7% retail vacancy rate

Executive Summary

Lee & Associates is pleased to present the opportunity to acquire a fee simple interest in a single-tenant Walgreens located in Aurora, Colorado, within the Denver MSA. The property consists of an approximately 11,034 square foot standalone pharmacy with a drive-thru, situated on a 1.23-acre parcel at 12011 E Iliff Avenue. Built in 2007, the asset is leased to Walgreens Co. under an absolute NNN lease structure, providing zero landlord responsibilities and stable, passive income.
Walgreens is a nationally recognized investment-grade tenant and one of the largest pharmacy operators in the United States, with thousands of locations nationwide and reported revenues exceeding $150 billion. This location has demonstrated long-term operational success, with nearly two decades of occupancy and strong reported sales exceeding $3.1 million, resulting in a favorable rent-to-sales ratio of approximately 13%. The lease features a remaining term through November 2032, along with multiple extension options, offering long-term income security backed by a corporate guaranty.

Walgreens-Aurora, CO - OM

Property Facts

Sale Type

Investment NNN

Sale Condition

1031 Exchange

Property Type

Retail

Property Subtype

Drug Store

Building Size

11,034 SF

Building Class

Year Built

2007

Price

$7,620,132 CAD

Price Per SF

$690.60 CAD

Cap Rate

7.50%

NOI

$571,510 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.21

Lot Size

1.23 AC

Zoning

B-1 - General Business

Parking

50 Spaces (4.53 Spaces per 1,000 SF Leased)

Frontage

278’ on E Iliff Ave

24 Hour Access

Air Conditioning

Retailer
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-
Jan 0000

Walgreens Boots Alliance traces its roots to Walgreens, founded in Chicago in 1901, and later grew through the combination with Alliance Boots into a broader healthcare, pharmacy, and retail business. The company describes itself as an integrated healthcare, pharmacy, and retail leader serving millions of customers and patients every day. Its business spans retail pharmacy, prescription services, health and wellness products, and related healthcare offerings, reflecting a focus on community-based care and access to medicines and services.