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Walgreens
835 West Galena Avenue, Freeport, IL 61032
$1,636,000
Cap Rate 7.00%
Summary
| Price $1,636,000 | Built/Renov 1991 | Tenant Walgreens |
| Cap Rate 7.00% | Lease Type
Double NN | Guarantor Corp T and Rated |
| Size/SF
12,023
| Lease Start
11-01-1991
| #Units
8,896
|
| Price/SF $136.07 | Expiration
11-01-2026
| Tenant Type Pharmacy |
| NOI $114,545 | R. Term 2.10 | Ownership Fee Simple |
| Rent/SF
$9.53
| Increases 0.0%/0/yrs | Pop 5Mi 28,306 |
| Lot/AC 0.98 | Options 5/5yrs | AHHI 5Mi $57,607 |
| | |
Lease Highlights
- Walgreens has been operating in this location for 20+ years and recently extended their lease by an additional 10 years
- Bond Drug Company of Illinois, LLC has over 4.5 years remaining on their initial term with 5 (5-year) option periods left to extend
- The lease is NN (see page 7 of OM for details)
- Corporate guaranteed lease
- Walgreens is an investment grade tenant (S&P: BBB)
Location Description
This Walgreens is strategically located at the signalized, hard corner intersection of W. Galena Avenue and State Highway 26, averaging a combined 32,300 vehicles passing by daily. The property is ideally situated within a dense retail corridor, and is within walking distance to Lincoln Mall, a 185,000 SF Community Center anchored by Bargain Maxx and Dollar General. Additionally, Walgreens is...
...Features
-
Signalized intersection
-
In location for years
-
Dense retail corridor
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Highway location
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Major MSA
-
Recently extended lease
-
Strong sales history
-
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 : | 7,969 | 24,389 | 26,514 |
| 2023 Total Population : | 8,206 | 25,051 | 27,234 |
| 2023 Employed Civilian Pop : | 3,643 | 10,714 | 11,859 |
| 2023 Total Businesses : | 480 | 1,082 | 1,169 |
| 2023 Average Household Income : | $ 51,686 | $ 65,701 | $ 68,229 |
| 2023 Total Consumer Spending : | $ 166 M | $ 638 M | $ 721 M |
| 2023 Median Age : | 39 | 44 | 45 |
| 2023 Total Households : | 3,659 | 11,118 | 12,123 |
| 2023 Pop Age 25+: Bachelor's Degree : | 564 | 2,554 | 2,799 |
| 2023 Average Home Value : | $ 92,513 | $ 113,568 | $ 125,057 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| W Galena Ave | Evergreen St | 2005 | 17,900 | 0.04 mi |
| N West Ave | W Ordway St | 2005 | 13,100 | 0.05 mi |
| W Galena Ave | N Trunck Ave | 2005 | 17,900 | 0.06 mi |
| W Galena Ave | N Railroad Ave | 2005 | 10,100 | 0.07 mi |
| IL 26 | W Ordway St | 2021 | 10,600 | 0.11 mi |
| W Galena Ave | N Lemon Ave | 2005 | 10,100 | 0.13 mi |
| N West Ave | W Galena Ave | 2005 | 14,400 | 0.14 mi |
| N West Ave | W Cottonwood St | 2005 | 13,100 | 0.15 mi |
| US 20 Business | N Island Ave | 2021 | 12,600 | 0.15 mi |
| North West Avenue | 2019 | 6,350 | 0.17 mi |
