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Views: 76 DOM: 47 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 11.0
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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Listing Broker

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