Drug Store
Walgreens
2701 Main Ave, Durango, CO 81301
Listing Price: $5,527,500
Investment Overview
Marcus & Millichap is pleased to offer for sale a 14,070 square foot freestanding Walgreens with drive-thru. Located along Main Avenue (Highway 550) at a signalized intersection with W. 24th Street, the subject property enjoys excellent exposure and accessibility. There are currently just over 11.5 years remaining on an original 15-year absolute NNN lease. The lease provides the landlord with very rare 5% increases every five years throughout the base term and (12) 5-year renewal options. Adjacent traffic generators include the Durango Community Recreation Center, the La Plata County Fairgrounds, Durango Highschool, and Miller Middle School. Neighboring retailers include Starbucks, Taco Bell, Four Corners Community Banks, Durango Doughworks, and many others. Supportive single-family residences surround the subject property.
Walgreens
Investment Highlights
- 15 year absolute NNN lease with rare 5% increases every five years during the primary term (11.5 remain) and options
- Investment grade tenant (S&P rated BBB)
- Drive-Thru location along heavily traveled Main Avenue
- 5% rental increase scheduled for 5/2025 taking at list cap rate to 5.88%
Broker of Record
Financing By
Listing Price: $5,527,500
Investment Highlights
- 15 year absolute NNN lease with rare 5% increases every five years during the primary term (11.5 remain) and options
- Investment grade tenant (S&P rated BBB)
- Drive-Thru location along heavily traveled Main Avenue
- 5% rental increase scheduled for 5/2025 taking at list cap rate to 5.88%
Investment Overview
Marcus & Millichap is pleased to offer for sale a 14,070 square foot freestanding Walgreens with drive-thru. Located along Main Avenue (Highway 550) at a signalized intersection with W. 24th Street, the subject property enjoys excellent exposure and accessibility. There are currently just over 11.5 years remaining on an original 15-year absolute NNN lease. The lease provides the landlord with very rare 5% increases every five years throughout the base term and (12) 5-year renewal options. Adjacent traffic generators include the Durango Community Recreation Center, the La Plata County Fairgrounds, Durango Highschool, and Miller Middle School. Neighboring retailers include Starbucks, Taco Bell, Four Corners Community Banks, Durango Doughworks, and many others. Supportive single-family residences surround the subject property.
Broker of Record
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Adam Lewis
First Vice President/Regional Manager
Financing By
