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Walgreens 2532 N Illinois St 13,905 SF Retail Building Belleville, IL 62226 $2,715,054 ($195.26/SF) 8.25% Cap Rate
Investment Highlights
- Walgreens at this location 22+ years with recent lease extension signed
- 5-Mile population of 125,700 residents and $93,400 avg household income
- Located across from Swansea Plaza with Schnucks Market, Dollar Tree, McDonalds
- ±8 years remaining on NN+ lease with Eight 5-year extension options
- Corporately guaranteed lease from Walgreens
- Essential retailer with consistent operations and rent payments through COVID-19
Executive Summary
Matthew M. Fitzgerald
License # 471021676, 478027547 (IL)
Matthews Real Estate Investment Services, Inc
600 W Fulton, Ste 100 Chicago, IL 60661
(866) 889-0550
License # 471021676, 478027547 (IL)
Matthews Real Estate Investment Services, Inc
600 W Fulton, Ste 100 Chicago, IL 60661
(866) 889-0550
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,905 SF
Building Class
B
Year Built
1997
Price
$2,715,054
Price Per SF
$195.26
Cap Rate
8.25%
NOI
$223,992
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.82 AC
Zoning
C-1
Parking
82 Spaces (5.9 Spaces per 1,000 SF Leased)
Frontage
178’ on N Illinois St
Amenities
- Signage
- Signalized Intersection
- Drive Thru
Fairly walkable
50/100
Very drivable
80/100
Some public transit
50/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 08-15.0-100-020 | Improvements Assessment | $401,432 |
| Land Assessment | $176,143 | Total Assessment | $577,575 |
Property Taxes
Parcel Number
08-15.0-100-020
Land Assessment
$176,143
Improvements Assessment
$401,432
Total Assessment
$577,575
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