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Walgreens 3732 Nameoki Rd 16,380 SF Retail Building Granite City, IL 62040 $3,048,685 ($186.12/SF) 6.99% Cap Rate
Investment Highlights
- Walgreens Corporate Guarantee (NYSE: WBA)
- Strong Unit Performance | Top 14% In Walgreens Chain as per Placer.AI
- Near Major Healthcare Centers – Gateway Regional Medical Center, SIHF Healthcare, and Chestnut Family Health Center
- Absolute NNN Lease | Zero Landlord Responsibility
- Surrounding Retailers Include - Applebee’s, Arby’s, McDonald’s, AutoZone, Goodwill, Schnucks, and more
- Part of the Greater St. Louis Metro Area – Strong Regional Market with Access to Five Major Interstates
Executive Summary
Marcus & Millichap is pleased to present for sale this Absolute Net Leased Walgreens located at 3732 Nameoki Road in Granite City, Illinois, a key retail destination within the Greater St. Louis Metropolitan Area. The subject property consists of a 16,380 SF free-standing building with a drive-thru, situated on a 1.98-acre parcel along a highly trafficked thoroughfare with over 18,000 vehicles per day.
Granite City is strategically positioned just a few miles from five major interstate highways (I-270, I-255, I-70, I-55, and I-64), providing seamless regional access and strong connectivity to St. Louis and beyond. The area is home to a diverse mix of national retailers including Applebee’s, Arby’s, McDonald’s, AutoZone, Goodwill, Schnucks Grocery, and Caliver Furniture, reinforcing its role as a wellestablished retail corridor.
The property also benefits from proximity to Southern Illinois University Edwardsville (14,235 students) and Southwestern Illinois College (13,221 students), contributing to steady consumer activity. Additionally, Gateway Regional Medical Center, SIHF Healthcare, and Chestnut Family Health Center are located nearby, further driving daytime traffic and demand for essential services.
This Absolute NNN Lease requires zero landlord responsibility, making it a passive investment opportunity backed by a Walgreens corporate guarantee (NYSE: WBA). The current lease term runs through January 31, 2027, and has ten (10) fiveyear renewal options, providing long-term stability.
Walgreens Boots Alliance (NASDAQ: WBA) operates over 12,700 stores across all 50 U.S. states, the District of Columbia, Puerto Rico, and Guam, along with worksite health centers, home care facilities, and specialty and mail service pharmacies. In fiscal year 2024, the company reported $147.7 billion in revenue reflecting continued strength in its healthcare and retail segments.
Illinois Broker of Record: Steven Weinstock
One Mid America Plaza, Ste. 200
Oakbrook Terrace, IL 60181
P: (630) 570-2200
Steven.Weinstock@MarcusMillichap.com
Lic #: 471.011175
Granite City is strategically positioned just a few miles from five major interstate highways (I-270, I-255, I-70, I-55, and I-64), providing seamless regional access and strong connectivity to St. Louis and beyond. The area is home to a diverse mix of national retailers including Applebee’s, Arby’s, McDonald’s, AutoZone, Goodwill, Schnucks Grocery, and Caliver Furniture, reinforcing its role as a wellestablished retail corridor.
The property also benefits from proximity to Southern Illinois University Edwardsville (14,235 students) and Southwestern Illinois College (13,221 students), contributing to steady consumer activity. Additionally, Gateway Regional Medical Center, SIHF Healthcare, and Chestnut Family Health Center are located nearby, further driving daytime traffic and demand for essential services.
This Absolute NNN Lease requires zero landlord responsibility, making it a passive investment opportunity backed by a Walgreens corporate guarantee (NYSE: WBA). The current lease term runs through January 31, 2027, and has ten (10) fiveyear renewal options, providing long-term stability.
Walgreens Boots Alliance (NASDAQ: WBA) operates over 12,700 stores across all 50 U.S. states, the District of Columbia, Puerto Rico, and Guam, along with worksite health centers, home care facilities, and specialty and mail service pharmacies. In fiscal year 2024, the company reported $147.7 billion in revenue reflecting continued strength in its healthcare and retail segments.
Illinois Broker of Record: Steven Weinstock
One Mid America Plaza, Ste. 200
Oakbrook Terrace, IL 60181
P: (630) 570-2200
Steven.Weinstock@MarcusMillichap.com
Lic #: 471.011175
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
16,380 SF
Building Class
B
Year Built
1997
Price
$3,048,685
Price Per SF
$186.12
Cap Rate
6.99%
NOI
$213,109
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.98 AC
Zoning
0330 - Improved - Commercial
Parking
95 Spaces (5.8 Spaces per 1,000 SF Leased)
Frontage
257’ on Nameoki Rd
Amenities
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 16,380 SF
- -
- Triple Net
- Jan 2027
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 | 16,380 SF | - | Triple Net | Jan 2027 |
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 22-2-20-08-06-102-012 | Improvements Assessment | $389,090 |
| Land Assessment | $251,370 | Total Assessment | $640,460 |
Property Taxes
Parcel Number
22-2-20-08-06-102-012
Land Assessment
$251,370
Improvements Assessment
$389,090
Total Assessment
$640,460
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Walgreens | 3732 Nameoki Rd
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