1215 Main St
Keokuk, IA 52632
Walgreens · Retail Property For Sale

Marcus & Millichap is pleased to exclusively present this single-tenant, 15,120 square foot Walgreens Pharmacy located in Keokuk, Iowa. Walgreens just elected to renew their renewal option, more than 3 years early, demonstrating their success and commitment to this location. There are now 9+ years remaining on the current lease term. Walgreens has seven, five-year options to renew at the same rent. This double-net corporate lease is guaranteed by Walgreen Co., the nation’s second largest drugstore chain that ranks #17 on the Fortune 500 list. The lease requires Walgreens to directly pay for all real estate taxes, insurance and utilities. The tenant is also responsible for all common area maintenance, including the parking lot, and for the repair or replacement of the HVAC unit. The landlord is only responsible for the roof and structural components of the building or the full replacement of the parking lot. Walgreens is a drive-thru location with a liquor license and a consistent store sales history that further justifies the tenants success and commitment to this site. It is the only drug store (Walgreens/CVS/Rite Aid) for 20 miles and therefore has zero competition. The building is positioned as a hard corner location at a signalized intersection, just 1 mile from the only Walmart Supercenter within 30 miles.