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Walgreens 3601 16th St 15,120 SF Retail Building Moline, IL 61265 $2,500,000 ($165.34/SF) 8% Cap Rate
Investment Highlights
- 24+ year tenancy with recently executed long-term NNN lease extension
- Corporately guaranteed NNN lease — landlord has zero responsibilities
- Less than a mile from SouthPark Mall with Dick's, Dillard's, JCPenney & more
- ±10 years remaining on base term with Eight 5-year extension options
- 5-mile population of 134,427 with avg. household income of $90,694
- Essential retailer with consistent operations and rent payments through COVID-19
Executive Summary
Kurt Sauer
License # 40628602, 41005445 (MN)
Matthews of Minnesota, LLC
701 Xenia Ave S, Ste 485 Minneapolis MN 55416
(866) 889-0550
License # 40628602, 41005445 (MN)
Matthews of Minnesota, LLC
701 Xenia Ave S, Ste 485 Minneapolis MN 55416
(866) 889-0550
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Drug Store
Building Size
15,120 SF
Building Class
B
Year Built
2000
Price
$2,500,000
Price Per SF
$165.34
Cap Rate
8%
NOI
$200,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.70 AC
Zoning
MOL
Amenities
- Pylon Sign
- Signalized Intersection
- Drive Thru
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- -
-
Lorem Ipsum
-
Jan 0000
Walgreens began in Chicago in 1901, after pharmacist Charles R. Walgreen Sr. purchased the drugstore where a pharmacy career began. The company grew from a neighborhood drugstore into a broad retail health business offering prescription services, health and wellness products, photo services, home delivery, specialty pharmacy, and virtual healthcare. Walgreens serves customers through a wide network of community pharmacies and digital platforms, with a focus on accessible medicine, everyday essentials, and healthcare support.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | - | Lorem Ipsum | Jan 0000 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
1 of 4
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