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Views: 117 DOM: 113 Updated: 07.31.24 Posted: 07.31.24 Status: Active

Summary

Price $4,659,000
Built/Renov 2010
Tenant Walgreens
Cap Rate 8.65%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,741
Lease Start 09-07-2010
#Units 13,532
Price/SF $316.06
Expiration 09-30-2035
Tenant Type Pharmacy
NOI $403,000
R. Term 10.10
Ownership Fee Simple
Rent/SF $27.34
Increases 0.0%/0/yrs
Pop 5Mi 33,376
Lot/AC 2.29
Options 10/5yrs
AHHI 5Mi $54,791

Lease Highlights

  • Walgreens has been operating in this location since 2010
  • The tenant has 11+ years remaining on the current lease term with 10 (5-year) options to extend
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of West Main Street and North Glenview Drive, two main thoroughfares with access to a robust combined daily traffic count of 53,400 vehicles. The property is just over a mile from Southern Illinois University’s main campus, the oldest and flagship campus of the SIU system. It is less than a mile from SIH Memorial...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Walgreens
  • Guarantor:Corp T and Rated
  • Company:Walgreens Boots Alliance
  • # Units:13,532
  • Tenant S&P: BBB-
  • Moody’s: Baa2
  • Stock: NASDAQ: WBA

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
2029 Total Population : 6,495 22,050 27,942
2024 Total Population : 6,729 22,655 28,736
2024 Employed Civilian Pop : 3,271 10,842 13,699
2024 Total Businesses : 337 1,267 1,467
2024 Average Household Income : $ 73,408 $ 61,185 $ 67,140
2024 Total Consumer Spending : $ 230 M $ 574 M $ 792 M
2024 Median Age : 35 28 30
2024 Total Households : 3,527 10,481 13,194
2024 Pop Age 25+: Bachelor's Degree : 934 2,832 3,699
2024 Average Home Value : $ 157,744 $ 185,357 $ 191,122
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Glenview Dr W Main St 2018 6,100 0.03 mi
W Main St N Glenview Dr 2013 28,200 0.06 mi
North Glenview Drive W Main St 2022 5,300 0.08 mi
Old W Main St S Hewitt St 2012 1,950 0.15 mi
Old West Main Street N Emerald Ln 2022 1,500 0.15 mi
W Main St N Glenview Dr 2013 23,900 0.17 mi
W Sycamore St N McKinley St 2002 4,750 0.18 mi
South Glenview Drive W Sunset Dr 2022 3,700 0.19 mi
West Sunset Drive S Glenview Dr 2018 2,850 0.20 mi
N McKinley St W Jefferson St 2012 500 0.21 mi

Listing Broker

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