Walgreens 110 Walnut St 14,820 SF Retail Building Highland, IL 62249 $3,733,000 ($251.89/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Strong Reported Sales – 10% Rent to Sales Ratio – Mitigated Future Vacancy Risk
- Out Positions & Outperforms CVS within Highland Market – Walgreens Receives Double the Customer Visits (Source: Placer.ai)
- Early Lease Extension (July 2024) – 11.5 Years Remaining on Absolute NNN Lease
- Critical Business Driver - Less than 1 Mile from HSHA St. Joseph’s Hospital – Serving Highland and Surrounding Communities for over 135 Years
EXECUTIVE SUMMARY
The fee simple interest of a Walgreens investment property located in Highland, Illinois (the “Property”). Built in 2004, the Property consists of a 14,820-square-foot retail building with a drive-thru that sits on an approximately 1.35-acre parcel. Walgreens shows commitment to this site with a newly inked lease extension that just commenced. This location has strong reported sales and a healthy 10% rent to sales ratio. Absolute-NNN lease structure and no landlord responsibilities.
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
14,820 SF
Building Class
B
Year Built
2004
Price
$3,733,000
Price Per SF
$251.89
Cap Rate
7.50%
NOI
$280,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
1.35 AC
AMENITIES
- Signalized Intersection
- Drive Thru
- Monument Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 02-2-18-32-14-301-010.001 | Improvements Assessment | $368,920 |
| Land Assessment | $179,070 | Total Assessment | $547,990 |
