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Walgreens
2404 South Perryville Road, Rockford, IL 61108
$8,162,600
Cap Rate 5.00%
Summary
| Price $8,162,600 | Built/Renov 2008 | Tenant Walgreens |
| Cap Rate 5.00% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
14,490
| Lease Start
10-01-2008
| #Units
8,896
|
| Price/SF $563.33 | Expiration
09-30-2033
| Tenant Type Pharmacy |
| NOI $408,130 | R. Term 9.9 | Ownership Fee Simple |
| Rent/SF
$28.17
| Increases 0.0%/0/yrs | Pop 5Mi 98,877 |
| Lot/AC 1.53 | Options 10/5yrs | AHHI 5Mi $89,239 |
| | |
Lease Highlights
- Walgreens has a 15+ year operating history at this location
- Tenant has 10 years remaining on its current lease term with 10 (5-year) options to extend
- Absolute NNN lease | Zero landlord responsibilities
- The lease is signed by the corporate entity, Walgreen Co. (S&P: BBB)
Location Description
The property is located near the high traffic, signalized, hard-corner intersection of S. Perryville Road and Harrison Avenue with a combined daily traffic volume of 55,000 VPD. S. Perryville Rd is the major north-south retail thoroughfare serving the region and averages 28,000 VPD. The asset is less than 2 miles southeast of Forest Plaza, a 435,000SF shopping mall with major tenants including...
...Features
-
Signalized intersection
-
High traffic 50M+ VPD
-
Freeway close
-
Affluent suburb location
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Major MSA
-
Long operation history
-
Absolute NNN
-
Traded and rated company
-
Corporate Guarantee
-
Investment grade tenant
...
Maps
Tenant
- Tenant: Walgreens
- Guarantor:Corp T and Rated
- Company:Walgreens Boots Alliance
- # Units:8,896
- Tenant S&P: BBB
- Moody’s: Baa3
- Stock:NASDAQ: WBA
About Tenant
Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 3,864 | 36,582 | 99,416 |
| 2023 Total Population : | 3,818 | 36,351 | 98,846 |
| 2023 Employed Civilian Pop : | 1,628 | 16,948 | 46,394 |
| 2023 Total Businesses : | 258 | 1,944 | 3,399 |
| 2023 Average Household Income : | $ 89,827 | $ 83,210 | $ 84,958 |
| 2023 Total Consumer Spending : | $ 133 M | $ 1133 M | $ 3009 M |
| 2023 Median Age : | 54 | 43 | 42 |
| 2023 Total Households : | 1,728 | 15,673 | 40,812 |
| 2023 Pop Age 25+: Bachelor's Degree : | 547 | 5,252 | 13,069 |
| 2023 Average Home Value : | $ 184,280 | $ 178,011 | $ 169,330 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| S Perryville Rd | Charles St | 2004 | 20,600 | 0.05 mi |
| South Perryville Road | 2017 | 19,300 | 0.08 mi | |
| S Perryville Rd | Charles St | 2004 | 22,800 | 0.09 mi |
| Harrison Avenue | S Perryville Rd | 2017 | 19,000 | 0.13 mi |
| Charles St | S Perryville Rd | 2004 | 5,700 | 0.13 mi |
| Frontage Road | 2017 | 175 | 0.14 mi | |
| Harrison Ave | S Perryville Rd | 2004 | 18,700 | 0.15 mi |
| S Perryville Rd | Harrison Ave | 2004 | 10,200 | 0.17 mi |
| Harrison Ave | S Perryville Rd | 2004 | 16,100 | 0.19 mi |
| S Perryville Rd | N Cherryvale Mall Dr | 2004 | 22,800 | 0.20 mi |
