Skip to main content

Drug Store

Walgreens

2701 Main Ave, Durango, CO 81301

Listing Price: $5,527,500

Cap Rate
5.60%
Tenant Name
Walgreens Co.
Years Remaining On Lease
11.4
Guarantor
Corporate Guarantee
Rentable SF
14,070
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$22.00

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.

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

  • Adam Lewis

    First Vice President/Regional Manager

    (303) 328-2000

    License(s) CO: ER100091205

    Colorado

Financing By

Drug Store

Walgreens

Listing Price: $5,527,500

Cap Rate
5.60%
Tenant Name
Walgreens Co.
Years Remaining On Lease
11.4
Guarantor
Corporate Guarantee
Rentable SF
14,070
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$22.00

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

  • Adam Lewis

    First Vice President/Regional Manager

    (303) 328-2000

    License(s): CO: ER100091205

    Colorado

Financing By

MM Texture Background
MM Textured Background Lower