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1311 IL-48 12,918 SF Retail Building Decatur, IL 62526 $3,470,000 ($268.62/SF) 7.45% Cap Rate
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Investment Highlights
- Turnkey, fee simple acquisition opportunity offering a performing Walgreens on an absolute NNN lease with no landlord responsibilities.
- Dependable rental income, with nine years remaining on the current term and twelve (12) five-year renewal options available.
- Equipped with a drive-thru pharmacy, providing convenience for customers picking up prescription medication.
- High-impact Walgreens location with strong unit-level performance of double the national average.
- Strong local demographics, with more than 72,000 residents within 5 miles, producing annual consumer spending that exceeds $770 million.
- Strong corporate tenant, with Walgreens ranking number 26 on the Fortune 500 list for total revenue in 2025.
Executive Summary
AiCRE Partners, as exclusive investment sales advisor to the seller, is pleased to offer the opportunity to acquire the fee simple interest in the Walgreens located at 1131 IL-48 in Decatur, Illinois. The property is occupied by Walgreens, one of the nation’s largest and most established pharmacy-led retailers, operating thousands of locations across the United States and serving as a daily-needs anchor in communities nationwide. Walgreens benefits from strong brand recognition, essential-service demand, and a resilient business model supported by prescription drug sales, health services, and convenience retail offerings.
The property is strategically positioned along Illinois Route 48, a primary commercial corridor in Decatur, providing excellent visibility, convenient ingress and egress, and strong exposure to both local and commuter traffic. More than 20,000 vehicles pass by the site each day, ensuring top brand presence in the local market. The site is well-located near surrounding residential neighborhoods and complementary retail and service uses, allowing the store to effectively serve a broad customer base while benefiting from consistent daily traffic patterns.
Decatur serves as the county seat of Macon County and functions as a key regional center for healthcare, manufacturing, education, and government within Central Illinois. The city is supported by a stable employment base, anchored by major employers, regional medical facilities, and higher education institutions, and offers connectivity to larger Midwest markets via nearby highways. Decatur delivers a valuable customer base within just 5 miles of 1311 IL-48, comprising a population of more than 72,600 with an average household income that exceeds $71,000. These avid shoppers produce more than $770 million in annual spending, empowering the local retail climate.
As an established infill location leased to a nationally recognized, creditworthy tenant, the Walgreens at 1131 IL-48 presents investors with the opportunity to acquire a durable net-leased asset backed by long-term fundamentals and essential retail demand.
The property is strategically positioned along Illinois Route 48, a primary commercial corridor in Decatur, providing excellent visibility, convenient ingress and egress, and strong exposure to both local and commuter traffic. More than 20,000 vehicles pass by the site each day, ensuring top brand presence in the local market. The site is well-located near surrounding residential neighborhoods and complementary retail and service uses, allowing the store to effectively serve a broad customer base while benefiting from consistent daily traffic patterns.
Decatur serves as the county seat of Macon County and functions as a key regional center for healthcare, manufacturing, education, and government within Central Illinois. The city is supported by a stable employment base, anchored by major employers, regional medical facilities, and higher education institutions, and offers connectivity to larger Midwest markets via nearby highways. Decatur delivers a valuable customer base within just 5 miles of 1311 IL-48, comprising a population of more than 72,600 with an average household income that exceeds $71,000. These avid shoppers produce more than $770 million in annual spending, empowering the local retail climate.
As an established infill location leased to a nationally recognized, creditworthy tenant, the Walgreens at 1131 IL-48 presents investors with the opportunity to acquire a durable net-leased asset backed by long-term fundamentals and essential retail demand.
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Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
12,918 SF
Building Class
C
Year Built
2002
Price
$3,470,000
Price Per SF
$268.62
Cap Rate
7.45%
NOI
$258,360
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
1.90 AC
Zoning
MUNICIPAL
Amenities
- Signage
- Signalized Intersection
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 12,918 SF
- -
- Triple Net
- Aug 2035
Walgreens Boots Alliance began with Walgreens, which was founded in 1901 and grew from a neighborhood drugstore into a large pharmacy and retail business. The company was formed later through the combination of Walgreens and Alliance Boots, creating a business with a broad presence in pharmacy retail and health-focused services. Its operations include retail pharmacy, healthcare services, and pharmaceutical wholesale, with digital and in-store offerings that support prescription access, consultations, immunizations, and wellness products. Walgreens Boots Alliance has remained centered on pharmacy-led care while serving customers through a mix of community locations and online channels.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 12,918 SF | - | Triple Net | Aug 2035 |
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
50/100
Demographics
Demographics
1 mile
3 mile
5 mile
15 min drive
2025 Population
10,791
48,819
72,612
92,970
2030 Population
10,804
48,614
71,646
91,480
2025-2030 Projected Population Growth
0.1%
-0.4%
-1.3%
-1.6%
Median Age
37.1
38.3
39.8
40.7
College Degree + Higher
13%
16%
19%
15%
Daytime Employees
1,899
30,626
41,278
49,554
Total Businesses
274
3,089
4,087
5,054
Average Household Income
$50,474
$60,687
$71,015
$80,266
Median Household Income
$35,474
$42,019
$48,336
$57,340
Total Consumer Spending
$95M
$470.4M
$771M
$1.1B
2025 Households
4,574
21,067
31,664
39,940
Average Home Value
$88,665
$115,447
$147,100
$169,827
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Bourbon Barrel Bar | - | - | 1 min walk |
| Pizza Hut | - | - | 14 min walk |
| Wingstop | - | - | 14 min walk |
| Mi Pueblito | - | - | 14 min walk |
| Hardee's | - | - | 16 min walk |
Retail |
||
|---|---|---|
| Cricket | Wireless Communications | 11 min walk |
| Metro By T-mobile | Wireless Communications | 14 min walk |
| Acceptance Insurance | Insurance | 14 min walk |
| Dollar General | Dollar/Variety/Thrift | 14 min walk |
| Dollar Tree | Dollar/Variety/Thrift | 14 min walk |
| Citi Trends | Dept Store | 14 min walk |
| Rent-A-Center | Rental Shop | 14 min walk |
| CVS Pharmacy | Drug Store | 15 min walk |
Hotels |
|
|---|---|
| Quality Inn |
55 rooms
10 min drive
|
| Comfort Inn |
81 rooms
12 min drive
|
| Best Western |
61 rooms
11 min drive
|
| Homewood Suites by Hilton |
103 rooms
11 min drive
|
| Baymont |
60 rooms
11 min drive
|
| Residence Inn |
96 rooms
11 min drive
|
| Fairfield Inn |
61 rooms
11 min drive
|
| Holiday Inn |
113 rooms
12 min drive
|
| Sleep Inn |
68 rooms
13 min drive
|
| Hampton by Hilton |
80 rooms
14 min drive
|
Property Taxes
| Parcel Numbers | Improvements Assessment | $373,431 | |
| Land Assessment | $88,568 | Total Assessment | $461,999 |
Property Taxes
Parcel Numbers
Land Assessment
$88,568
Improvements Assessment
$373,431
Total Assessment
$461,999
Sale Advisor
Sale Advisor
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1311 IL-48