Walgreens
309 U.S. 287 (Baseline Road & Highway 287) – Boulder (Lafayette), CO
Walgreens Co. (NYSE:WAG) approached landlord to extend lease for an additional 10 years for a 14% rent reduction
7.22 years currently remaining on NN lease which expires 2/28/2021 ($25,000 roof escrow transferred to buyer at closing)
Excellent Boulder Colorado location
Area tenants: Walmart Supercenter, McDonald’s, Chili’s, Conoco Gas, Domino’s, Discount Tire, & King Scoopers Supermarket
8 miles from the University of Colorado Boulder with 28,894 students
$157,818 of amortization in 2014 and $23,059 of existing cash flow based on existing debt
$2,950,000 to pay off existing debt - includes interest prepay
Phone: 212.972.7457Fax: [email protected]
This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Price: $4,700,000In Place NOI: $331,817 | Cap: 7.06% | 7.22 Year LeaseIf Buyer Accepts Walgreen's 10 Year Lease Extension Proposal: NOI: $285,363 | Cap: 6.07% | 17.22 Year Lease
Whisper Valley Ranch
Investment Overview
This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
PROPERTY OVERVIEW:EXP Realty Advisors exclusively presents for sale a Walgreens located in Boulder (Lafayette), Colorado. Thebuilding is 15,120 sf, on 1.72 acres of land. The property sits at the corner of Baseline Road and Highway287. Tenants in the immediate area include a Walmart Supercenter, McDonald’s, Chili’s, Conoco Gas,Domino’s, Discount Tire, and a King Scoopers Supermarket. The Lafayette Recreation Department andLafayette Public Library are located within a mile down Baseline Road. The University of Colorado Boulder islocated 8 miles West of the property. The property has not experienced any flooding. The property is 15miles from Denver, CO.
The University of Colorado Boulder is the flagship University of the State of Colorado, and is one of 34 U.S.public institutions belonging to the prestigious Association of American Universities (AAU). The University ofColorado Boulder has an enrollment of 29,894 students.
Lafayette, CO is located in Boulder County, which is part of the Denver-Aurora MSA with a population of3,214,218. Boulder County is the sixth most populous of the 64 counties of the state of Colorado. Lafayetteis a strong supporter of economic development. The city is located just northwest of Denver in thesoutheast corner of Boulder County. The community offers the convenience of easy access to a majormetropolitan area. Lafayette’s location, accessibility, and high quality of life combine to make the city adesirable location for residential, commercial, and light industrial development.
Boulder is the 11th most populous city in the U.S. state of Colorado. The Boulder MSA had a grossmetropolitan product of $18.3 billion in 2010, making it the 110th largest metropolitan economy in theUnited States. Businessweek Magazine calls Boulder the best place to start a business in Colorado.
TENANT OVERVIEW: Walgreen Co. (NYSE: WAG | S&P: Investment Grade): BBBWalgreen Co., together with its subsidiaries, operates a network of drugstores in the United States. Thecompany sells prescription and non-prescription drugs; and general merchandise, including householdproducts, convenience and fresh foods and personal care. As of May 7, 2013, it operated 8,086 drugstoresin 50 states, the District of Columbia, and Puerto Rico. The company also operates approximately 700worksite health and wellness centers, and in-store convenient care clinics in the United States. Walgreen Co.was founded in 1901 and is based in Deerfield, Illinois.
INVESTMENT SUMMARY
NN Rent: $331,817 (with 7.2 year lease)$285,363(with 17.2 year lease)
Debt Service: $308,758(includes $25,000 roof escrow)
Cash Flow: $23,059 (existing)
Loan $157,801Amortization2014:
Loan Balance $2,227,707as of 12/15/13:
Loan Payoff: $2,950,000(includes prepaid interest)
Bld. Sq Ft: 15,120 sf
Land Size: 1.72 acres
Defeasance: None
Lease Type: Double Net(sale comes with approximately $25,000 roof escrow)(landlord has roof structure and parking lot)
INVESTMENT OVERVIEW
Walgreens
Baseline Road & Highway 287 – Boulder, CO
Whisper Valley Ranch
Investment Overview
This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
LOAN INFORMATION
Current lease expires on 2/28/2021. Loan is due on 1/15/2021 with a $857,329.80 balance or can be paid at any time with prepaid interest.
Walgreens
Baseline Road & Highway 287 – Boulder, CO
Lease term Rent Cap Price Debt
balance as of 12-15-13
Required Equity for
loan assumption
Cash Flow
Cash on
Cash
Loan Amort in 2014
Amortized Cash on
Cash
Debt payoff with interest
pre pay
Cost to buyer with buyer pre-paying loan at closing
Free and clear
cap rate
7.22 year lease (existing) 331,817 7.06% 4,700,000 2,227,707 2,472,293 23,059 0.93% 157,801 7.32% 2,950,000 5,422,293 6.12%
17.22 year lease (as proposed by Walgreens at rent less 14%) 285,363 6.07% 4,700,000 2,227,707 2,472,293 23,059 0.93% 157,801 7.32% 2,950,000 5,422,293 5.26%
Cash Flow Equity Amortized Cash on Cash Loan Amortization
2014 23,059 2,472,293 6.80% 145,083
2015 23,059 2,472,293 7.23% 155,571
2016 23,059 2,472,293 7.68% 166,817
2017 23,059 2,472,293 8.17% 178,876
2018 23,059 2,472,293 8.69% 191,807
2019 23,059 2,472,293 9.25% 205,673
2020 23,059 2,472,293 9.85% 220,541
AERIAL PHOTOGRAPHThis information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Lafayette
Public Library
Black Diamond
Plaza
Walgreens
Baseline Road & Highway 287 – Boulder, CO
AERIAL PHOTOGRAPHThis information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Lafayette
Recreation
Department
Lafayette
Elementary
School
Walgreens
Baseline Road & Highway 287 – Boulder, CO
LOCATION MAPThis information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Walgreens
Baseline Road & Highway 287 – Boulder, CO
LOCATION MAPThis information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Walgreens
Baseline Road & Highway 287 – Boulder, CO
This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
Contact Us
EXP Realty Advisors118 East 28th Street
Suite #901New York, NY 10016www.exp1031.com
Our Team
Robert P. JamesPresident
Email: [email protected]
Daniel de Sa‘Director of Sales
Phone: (212) 972-3947E-mail: [email protected]
DEMOGRAPHIC DATA
Radius 1 Mile 3 Mile 5 Mile
Population:
2017 Projection 10,917 45,170 101,207
2012 Estimate 10,162 41,591 92,284
2010 Census 9,908 40,007 88,499
Growth 2012-2017 7.40% 8.60% 9.70%
Growth 2010-2012 2.60% 4.00% 4.30%
2012 Population By Hispanic Origin 1,599 6,267 10,176
2012 Population by Race:
White 8,852 36,139 80,911
Black or African American 150 466 1,033
American Indian and Alaska Native 80 336 537
Asian 343 1,546 4,214
Native Hawaiian and Pacific Islander 6 20 44
Other Race 396 1,809 2,768
Two or More Races 335 1,275 2,775
Households:
2017 Projection 4,398 17,990 38,961
2012 Estimate 4,056 16,406 35,207
2010 Census 3,966 15,849 33,969
Growth 2012-2017 8.40% 9.70% 10.70%
Growth 2010-2012 2.30% 3.50% 3.60%
Owner Occupied 2,713 11,682 26,696
Renter Occupied 1,342 4,724 8,511
2012 Avg Household Income $84,303 $89,546 $101,047
2012 Med Household Income $62,206 $66,689 $81,037
2012 Per Capita Income $34,398 $35,431 $38,648
2012 Households by Household Inc:
Income Less than $15,000 413 1,302 2,171
Income $15,000 - $24,999 317 1,175 1,962
Income $25,000 - $34,999 311 1,470 2,327
Income $35,000 - $49,999 488 1,875 3,190
Income $50,000 - $74,999 848 3,190 6,503
Income $75,000 - $99,999 470 2,030 4,855
Income $100,000 - $149,999 647 2,734 7,260
Income $150,000 - $199,999 297 1,406 3,785
Income $200,000+ 266 1,223 3,153
Walgreens
Baseline Road & Highway 287 – Boulder, CO