Walgreens

2404 South Perryville Road, Rockford, IL 61108

$8,162,600

Cap Rate 5.00%

Updated: 10.28.23 Posted: 09.06.23 Status: Inactive 03.12.24

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 8.5	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...

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Key Features

Signalized intersection
High traffic 50M+ VPD
Freeway close
Affluent suburb location
Major MSA
Long operation history
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Walgreens Wikipedia Walgreens Wikipedia Rockford, Illinois Zip Code 61108 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

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...

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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

*ESRI data is presented for informational purposes only

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

Listing Broker

Sean Lutz

SRS National Net Lease Group

Contact

24 Listings
4825 Views
10 Sold

Dan Elliot

SRS National Net Lease Group

Contact

24 Listings
4825 Views
10 Sold

Sean Lutz

Sean joined SRS with more than fifteen years of experience in commercial real estate. Along with Dan Elliot, he was responsible for leading the net lease group at SVN Commercial Real Estate Advisors. He specializes in the disposition and sale of net leased investment properties across the country and has completed more than 500 transactions with a sales volume in excess of $1 billion. Sean has an extensive client list ranging from private investors to some of the largest U.S. investment funds a

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Dan Elliot

Dan joined SRS with nearly fifteen years of experience in real estate, both as an advisor and investor, and has worked exclusively with clients in the acquisition and disposition of leased investment properties nationwide. Dan, along with Sean Lutz, led the net lease group at SVN Commercial Real Estate Advisors, and has experience in single-tenant sales, anchored and unanchored shopping center sales, power center and portfolio dispositions and pre-development sales. He has a long list of repeat

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