Listed by Colliers - Los Angeles - Orange County, California, Colliers - Denver, Colorado
$3,999,000
10501 E Colfax
Details
Property Type Mixed Use, Retail
Sub Type Pharmacy/Drug
Square Footage 13,450
Cap Rate 8.41%
NOI $336,289
Tenancy Single
Brand/Tenant Walgreens
Lease Type NNN
Lease Term 5
Lease Expiration 09/25/2035
Year Built 1996
Acreage 1.990
Zoning OA-G
Parking Spaces 85 spaces
Parking Per SqFt 6.32
Investment Type Value Add
Lease Commencement 09/25/2022
Mixed Use | 8.41% CAP | 13,450 SqFt
Marketing description
Retailers in the Central Submarket are able to draw from some of Denver’s fastest-growing neighborhoods. The Central Park neighborhood has grown into Denver’s most desirable location for young families, while the Lowry neighborhood that lies to the south offers families and young professionals a quiet residential community within a short 10-minute drive to downtown. Employment in the area is driven by the high-paying healthcare, aerospace, and bioscience industries. Retailers are attracted to the area’s favorable demographics and explosive growth, supported by proximity to several of Denver’s most desirable neighborhoods.
Colfax Avenue has long been an important east-west transportation route connecting downtown Denver with Anschutz Medical Campus, and the City of Denver has
plans to implement a new Bus Rapid Transit (BRT) line that will improve mobility along the corridor, which could increase foot traffic.
Vacancies in the submarket have held relatively steady in recent years and currently sit at 4.8% as of 25Q1, compared to the metro benchmark of 4.3%. Supply
additions have been modest despite the size of the submarket, and the current pipeline is limited with just 16,000 SF under construction.
Investment highlights
- Aurora, Colorado “Value Add” Investment Opportunity
- Prime Colfax Avenue Location - High-visibility site on one of the busiest corridors in Aurora
- Strong Traffic Counts - Positioned along a major retail and commuter corridor with high daily traffic
- Diverse Tenant Mix - Potential for retail, office, or mixed-use tenants to drive higher NOI
- High-Density Area - Surrounded by growing residential communities and businesses
- Affordable Entry Point - Competitive pricing with strong upside potential in a growing market
- 1.5 miles away from University of CO Anschutz Medical Campus, a 1mm SF medical campus featuring two hospitals
- Signalized hard corner with exposure to 55,000 VPD
- Strong unit-level performance in a high-demand area
- Growing Denver MSA location with over 171,000 people within 3 miles
- Surrounded by major retailers, restaurants, and services
- Strong visibility, multiple access points, and public transit nearby
- Expanding Denver MSA with increasing consumer demand
Listing Contacts
Listed by Colliers - Los Angeles - Orange County, California, Colliers - Denver, Colorado
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$336,289.00
$28,024.08/mo
Valuation Metrics
0
DSCR
8.41%
Cap Rate
8.41%
ROI
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