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Central Illinois Urgent Care Center 602 Woodlawn Rd 5,800 SF 100% Leased Retail Building Lincoln, IL 62656 $1,454,000 ($250.69/SF) 7.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 5,800 Square Foot Two-Tenant Retail Strip
- Zero Lease Rollover until 2029
- Lincoln Urgent Care Operates a Triple Net Lease | OSF Lease is Gross – Upside Potential for Future Investor to Convert to NNN
- 100% Occupied | Anchored by Central Illinois Urgent Care & OSF Healthcare
- Rare 3% Annual Rent Increases in Renewal Options for both Tenants
- Adjacent to both CVS and Walgreens
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present the Central Illinois Urgent Care Center in Lincoln, Illinois. This 5,800 square foot building was built in 2024 and sits on a 0.92 acre parcel. The building has excellent visibility and easy, immediate access from Woodlawn Road, where over 11,500 vehicles drive per day. There are multiple nearby traffic drivers like CVS, Walgreens, Walmart, Hardee’s, Dollar General, Dollar Tree and McDonald’s. The Lincoln Memorial Hospital is located a little over a mile away from the subject property along with many other retailers. Central Illinois Urgent Care Center is a two-tenant retail strip, offering full stability at 100 percent occupancy. Central Illinois Urgent Care occupies the 3,800 square foot endcap on the east end of the center, while OSF Healthcare occupies the additional 2,000 square feet. There are rare 3 percent annual rent increases in the options for each tenant, providing excellent rent growth potential for a future investor.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Building Size
5,800 SF
Building Class
B
Year Built
2024
Price
$1,454,000
Price Per SF
$250.69
Cap Rate
7.75%
NOI
$112,649
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.27
Lot Size
0.49 AC
Opportunity Zone
Yes
Zoning
GB - General Business
Frontage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 12-480-024-75 | Improvements Assessment | $252,750 |
| Land Assessment | $26,980 | Total Assessment | $279,730 |
PROPERTY TAXES
Parcel Number
12-480-024-75
Land Assessment
$26,980
Improvements Assessment
$252,750
Total Assessment
$279,730
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Central Illinois Urgent Care Center | 602 Woodlawn Rd
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