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Views: 97 DOM: 642 Updated: 09.13.24 Posted: 12.14.22 Status: Active

Summary

Price $5,200,000
Built/Renov 2022
Tenant Walgreens
Cap Rate 5.70%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,585
Lease Start 09-01-2022
#Units 13,532
Price/SF $413.19
Expiration 08-31-2035
Tenant Type Pharmacy
NOI $296,400
R. Term 10.11
Ownership Fee Simple
Rent/SF $23.55
Increases 5.0%/5/yrs
Pop 5Mi 141,856
Lot/AC 1.76
Options 12/5yrs/5%
AHHI 5Mi $82,502

Lease Highlights

  • Tenant recently signed a brand-new lease with 12 (5-year) options to extend
  • Lease features 5% rental increase every 5 years and at the beginning of each option period
  • Walgreens Boots Alliance ranked 16th in Fortune 500
  • Walgreens is an investment grade credit tenant rated “BBB” by S&P

Location Description

The subject property is positioned at the intersection of Bloomington Road and Prospect Avenue which sees over 42,900 VPD and is within 2 miles of the University of Illinois Urbana-Champaign and Parkland College with a combined enrolment of over 50,000 students. The 1.76-acre parcel and 14,820SF building adjoins Pioneer plaza, is directly opposite The Home Depot, and boasts great visibility...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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
2027 Total Population : 12,124 93,201 142,630
2022 Total Population : 12,083 92,269 141,970
2022 Employed Civilian Pop : 7,382 48,210 74,754
2022 Total Businesses : 599 3,969 5,474
2022 Average Household Income : $ 65,478 $ 63,563 $ 82,595
2022 Total Consumer Spending : $ 303 M $ 2054 M $ 4236 M
2022 Median Age : 33 25 28
2022 Total Households : 5,309 36,965 59,198
2022 Pop Age 25+: Bachelor's Degree : 1,357 9,462 18,814
2022 Average Home Value : $ 141,766 $ 198,348 $ 226,236
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Bloomington Rd Hagan St 2016 9,800 0.05 mi
N Prospect Ave W Bloomington Rd 2016 33,100 0.12 mi
N Prospect Ave Pioneer St 2017 21,700 0.14 mi
North Prospect Avenue N Highland Ave 2018 31,900 0.14 mi
Francis Dr N Willis St 2016 1,750 0.17 mi
Hagan St Dennison Dr 2016 1,250 0.19 mi
Edgebrook Dr Hagan St 2016 700 0.21 mi
W Bloomington Rd N Willis St 2017 15,900 0.22 mi
I- 74 N Prospect Ave 2017 10,300 0.22 mi
N Prospect Ave I- 74 2016 31,700 0.23 mi

Listing Broker

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