Walgreens

411 West Lincoln Avenue, Charleston, IL 61920

$4,900,000

Cap Rate 8.00%

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DOM: 11 Updated: 08.06.25 Posted: 08.06.25 Status: Active 08.06.25

Summary

Price $4,900,000	Built/Renov 2007	Tenant Walgreens
Cap Rate 8.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 14,550	Lease Start 10-15-2007	#Units 12,500
Price/SF $336.77	Expiration 11-30-2032	Tenant Type Pharmacy
NOI $392,000	R. Term 7.3	Ownership Fee Simple
Rent/SF $26.94	Increases 0.0%/0/yrs	Pop 5Mi 19,649
Lot/AC 1.43	Options 10/5yrs	AHHI 5Mi $76,187

Highlights

Walgreens has operated at this location since 2007
Tenant has 7 years remaining on the original 25-year lease, followed by 10 (5-year) renewal options
Absolute NNN lease I Zero landlord responsibilities
Corporate guarantee from Walgreens

Location Description

Walgreens is strategically located along West Lincoln Avenue (IL-16), with daily traffic counts of approximately 24,600 vehicles, in one of Charleston’s primary commercial corridors. The property is surrounded by national retailers including CVS, ALDI, McDonald’s, Dollar Tree, and Burger King. The site is just minutes from Eastern Illinois University, which enrolls over 8,000 students, and is...

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Key Features

Build to suit
In location for years
Major thoroughfare
Near major nationals
University college close
Strong demographics
Long operation history
Absolute NNN
Traded and rated company
Over 2000 units backed

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Links

Walgreens Wikipedia Walgreens Wikipedia Charleston, Illinois Zip Code 61920

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Walgreens
Guarantor:Corp T and Rated
Company:Walgreens Boots Alliance
# Units:12,500
Tenant S&P: BB-
Moody’s: Ba3
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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Listing Broker

Jimmy Goodman

The Boulder Group (HQ)

Contact

172 Listings
34807 Views
76 Sold

Randy Blankstein

The Boulder Group (HQ)

Contact

172 Listings
32922 Views
70 Sold

Jimmy Goodman

Goodman is a partner at The Boulder Group, with over 15 years of experience in the investment real estate sector. His career began at PricewaterhouseCoopers in 2001 and afterward, he has been solely focused on investment real estate. He has been featured in multiple publications including Globe Street, Commercial Property Executive, Real Estate Forum and was a featured speaker at Real Share’s Net Lease Conference. He is a member of the International Council of Shopping Centers and received a Ba

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Randy Blankstein

President of The Boulder Group, Blankstein is a senior commercial real estate executive with over 30 years of experience focused on advisory services in the single tenant net lease sector. Led The Boulder Group to a top 10 company national ranking for single tenant retail transactions by both CoStar and Real Capital Analytics from 2010-2021. Founded and managed net leased companies on both the advisory and principal sides that have been involved in over $7 billion in single tenant transaction

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