Walgreens

7390 Rangewood Drive, Colorado Springs, CO 80918

$4,173,000

Cap Rate 7.50%

Views: 131 DOM: 551 Updated: 10.20.24 Posted: 05.20.23 Status: Active

Summary

Price $4,173,000	Built/Renov 2005	Tenant Walgreens
Cap Rate 7.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 14,820	Lease Start 12-17-2005	#Units 13,532
Price/SF $281.58	Expiration 12-31-2030	Tenant Type Pharmacy
NOI $313,000	R. Term 6.1	Ownership Fee Simple
Rent/SF $21.12	Increases 0.0%/0/yrs	Pop 5Mi 240,702
Lot/AC 1.66	Options 10/5yrs	AHHI 5Mi $119,059

Lease Highlights

Walgreens has been operating in this location since 2005
Tenant has over 6 years remaining on the current lease term with 10 (5-year) options to extend
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee by Walgreens Boots Alliance (NASDAQ: WBA)
Walgreens is an investment grade tenant (S&P: BBB-)

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Rangewood Drive and East Woodmer Road with access to over 53,000 vehicles per day. The site benefits from nearby direct access to State Highway 21 (60,000 VPD), making this an ideal, centralized location. National/credit tenants in the area include Starbucks, McDonalds, Dollar Tree, Firestone, Wendy’s and many...

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Key Features

Signalized intersection
Hard corner intersection
In location for years
High traffic 50M+ VPD
Highway close
Dense 200M+ pop 5 mi
Top 100 MSA
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

Walgreens Wikipedia Walgreens Wikipedia Colorado Springs, Colorado Zip Code 80918 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Walgreens
Guarantor:Corp T and Rated
Company:Walgreens Boots Alliance
# Units:13,532
Tenant S&P: BBB-
Moody’s: Baa2
Stock: NASDAQ: WBA

About Tenant

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	15,109	123,593	256,693
2023 Total Population :	14,999	119,158	243,770
2023 Employed Civilian Pop :	8,160	60,266	121,855
2023 Total Businesses :	357	4,050	7,378
2023 Average Household Income :	$ 107,269	$ 123,986	$ 120,720
2023 Total Consumer Spending :	$ 536 M	$ 4781 M	$ 9603 M
2023 Median Age :	35	37	37
2023 Total Households :	5,840	45,287	93,250
2023 Pop Age 25+: Bachelor's Degree :	3,334	23,998	47,896
2023 Average Home Value :	$ 414,582	$ 472,368	$ 473,685

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
E Woodmen Rd	Rangewood Dr	2015	37,760	0.04 mi
WOODMEN RD	Rangewood Dr	2019	37,000	0.04 mi
Rangewood Dr	E Woodmen Rd	2015	15,255	0.10 mi
Rangewood Drive	Dublin Blvd	2021	12,706	0.11 mi
E Woodmen Rd	Lexington Dr	2013	34,905	0.18 mi
Lexington Drive	E Woodmen Rd	2021	5,913	0.21 mi
Lexington Drive	E Woodmen Rd	2021	14,053	0.23 mi
Churchwood Cir	Sedgewood Way	2017	995	0.24 mi
Lexington Dr	Bunker Hill Dr	2015	17,510	0.25 mi
E Woodmen Rd	Lexington Dr	2003	28,700	0.25 mi

Listing Broker

Patrick Luther

SRS National Net Lease Group

Contact

420 Listings
46328 Views
165 Sold

Matthew Mousavi

SRS National Net Lease Group

Contact

369 Listings
42220 Views
137 Sold

Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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