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Walgreens | 11yrs Abs NNN | DriveThru 1723 Broadway St 14,820 SF Retail Building Quincy, IL 62301 $7,553,000 ($509.65/SF) 8.01% Cap Rate
Investment Highlights
- 11 Years Remaining | Options To Extend | Drive-Thru Equipped Attractive Assumable Financing
- Quincy University (1,300+ Students) | Retail Corridor | Signalized, Hard Corner Location | Blessing Hospital (347 Beds)
- Absolute NNN Lease | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS Real Estate Partners–Midwest, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NNN-leased Walgreens investment property located in Quincy, Illinois. The tenant, Walgreens, has 11 years remaining on their current initial term with ten (5-year) options to extend, demonstrating their commitment to the site. The site features a drive-thru, enhancing tenant functionality and long-term retail viability. The property also features an attractive assumable financing, providing buyers the opportunity to take advantage of favorable loan terms and potentially below-market interest rates. The lease is an absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for an investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,820 SF
Building Class
C
Year Built
2012
Price
$7,553,000
Price Per SF
$509.65
Cap Rate
8.01%
NOI
$605,196
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.66 AC
Zoning
RIC
Parking
58 Spaces (3.91 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
- -
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Lorem Ipsum
-
Jan 0000
Walgreens began in 1901 on Chicago's South Side, when pharmacist Charles R. Walgreen Sr. opened a neighborhood drugstore that grew into a national chain. Walgreens later combined with Alliance Boots to form Walgreens Boots Alliance, bringing together retail pharmacy, pharmaceutical wholesaling, and healthcare services under one business. Walgreens Boots Alliance operates an integrated healthcare, pharmacy, and retail model spanning U.S. and international operations, with businesses centered on prescription filling, consumer health products, beauty items, and related services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 23-5-1679-000-00 | Improvements Assessment | $0 |
| Land Assessment | $144,440 | Total Assessment | $144,440 |
Property Taxes
Parcel Number
23-5-1679-000-00
Land Assessment
$144,440
Improvements Assessment
$0
Total Assessment
$144,440
Contacts
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Jake Prater -
Matthew Mousavi -
Patrick Luther -
Dan Elliot -
SRS National Net Lease
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