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Walgreens 625 W Pershing Rd 14,820 SF Retail Building Decatur, IL 62526 $4,153,000 ($280.23/SF) 8.50% Cap Rate
Investment Highlights
- Stabilized Investment Opportunity; Leased to Walgreens with a corporate guarantee featuring zero landlord responsibilities with 6.0 years remaining
- Neighboring Retail Tenants; Surrounded by tenants such as; Kroger, ALDI, Planet Fitness, Harbor Freight, Sherwin-Williams, Wendy’s, Culver’s, and more
- Easily Accessible Site; 2 points of Ingress/Egress from Monroe Street providing excellent visibility along Monroe Street (11,344 VPD)
- Strong Historical Occupancy; Walgreens has been operating at this location since March 2006 producing strong store sales
- Ideal Demographics; Asset is located within a dense area with over 69,066 residents and an average household income of $68,000 within a 5-mile radius
- Location, Location, Location! Less than a mile from Decatur Memorial Hospital, a 280 licensed bed hospital with more than 2,500 employees
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,820 SF
Building Class
B
Year Built
2006
Price
$4,153,000
Price Per SF
$280.23
Cap Rate
8.50%
NOI
$353,005
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
1.57 AC
Zoning
MUNICIPAL
Parking
86 Spaces (5.8 Spaces per 1,000 SF Leased)
Frontage
216’ on North Monroe Street
Amenities
- Signage
- Monument Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 04-12-03-126-013 | Improvements Assessment | $499,707 |
| Land Assessment | $80,145 | Total Assessment | $579,852 |
Property Taxes
Parcel Number
04-12-03-126-013
Land Assessment
$80,145
Improvements Assessment
$499,707
Total Assessment
$579,852
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Walgreens | 625 W Pershing Rd
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