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Walgreens 2140 Peoria Rd 13,450 SF Retail Building Springfield, IL 62702 $1,823,529 ($135.58/SF) 8.50% Cap Rate
Investment Highlights
- Low Rent Compared to Walgreens Store Fleet – Walgreens typically pays between $280,000 and $320,000 in annual rent at comparable locations
- Rare 21.2% Rent Increase Opportunity – At the end of the current lease term, and upon another waived termination option
- State Capital Economic Anchor – Located in Springfield, Illinois, the state capital, the property benefits from a stable, government-driven economy
- Established 30-Year Operating History – Walgreens has operated successfully at this location since 1994, demonstrating more than three decades
- Strong Downside Protection – Comparable Walgreens properties with similar building and lot sizes are commonly valued between $3 million and $6 million
- Essential National Tenant – Walgreens remains one of the nation’s most important retailers, operating approximately 8,000 locations, employing 211,000
Executive Summary
Matt Fitzgerald
License # 471021676, 478027547 (IL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave., Ste. 1500, Nashville, TN 37203
(866) 889-0550
Property Facts
Amenities
- Pylon Sign
- Signalized Intersection
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- $11.52
- Triple Net
- Feb 2030
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 | - | $11.52 | Triple Net | Feb 2030 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 14-22.0-230-057 | Improvements Assessment | $234,673 |
| Land Assessment | $290,340 | Total Assessment | $525,013 |
Property Taxes
