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Views: 42 DOM: 128 Updated: 06.24.24 Posted: 03.06.24 Status: Active

Summary

Price $4,706,667
Built/Renov 2006
Tenant Walgreens
Cap Rate 7.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,820
Lease Start 03-01-2023
#Units 13,532
Price/SF $317.59
Expiration 03-31-2031
Tenant Type Pharmacy
NOI $353,000
R. Term 6.8
Ownership Fee Simple
Rent/SF $23.82
Increases 0.0%/0/yrs
Pop 5Mi 68,583
Lot/AC 1.57
Options 10/5yrs
AHHI 5Mi $72,491

Lease Highlights

  • Walgreens has 7 years remaining on the current lease term with 10 (5-year) options to extend
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee (NASDAQ: WBA)
  • Investment grade tenant (S&P: BBB-)

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Pershing Road and Monroe Street, with access to a combined daily traffic count of 28,000 vehicles. The property is surrounded by well-known national tenants including Kroger, Aldi, CVS, Taco Bell, and Wendy’s. Additionally, the property is within one mile of St. Teresa High School, which has over 300 faculty and...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 6,467 45,173 69,254
2023 Total Population : 6,659 46,196 70,990
2023 Employed Civilian Pop : 2,461 18,085 29,591
2023 Total Businesses : 429 2,104 2,844
2023 Average Household Income : $ 55,920 $ 60,010 $ 66,510
2023 Total Consumer Spending : $ 156 M $ 1059 M $ 1815 M
2023 Median Age : 51 39 41
2023 Total Households : 3,177 20,106 31,189
2023 Pop Age 25+: Bachelor's Degree : 745 4,235 7,552
2023 Average Home Value : $ 101,588 $ 112,549 $ 127,582
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Pershing Rd Mahnke Rd 2017 18,300 0.14 mi
W McKinley Ave 2018 10,700 0.16 mi
IL 48; IL 121 2021 17,600 0.21 mi
IL 48; IL 121 Greenridge Dr 2021 17,700 0.27 mi
N Lynette Dr Berry Dr 2016 650 0.31 mi
Berry Dr Barnes Dr 2016 175 0.33 mi
W McKinley Ave N Graceland Ave 2015 3,250 0.38 mi
West McKinley Avenue N Graceland Ave 2018 3,350 0.38 mi
W Pershing Rd N Oakland Ave 2017 18,300 0.39 mi
N Macarthur Rd Berry Dr 2015 10,200 0.40 mi

Listing Broker

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