399 Lake Marian Rd - Drug Store FOR SALE


Carpentersville, IL 60110
$3,604,403 USD
408-510-9057
399 Lake Marian Rd, Carpentersville, IL for Sale
$3,604,403 USD
Drug Store - FOR SALE
1/5
null | 6.95% Cap Rate

399 Lake Marian Rd
Carpentersville, IL 60110


HIGHLIGHTS

  • Strategically Located as an Outparcel to a Busy Walmart Supercenter Anchored Shopping Center
  • Highly Visible Signalized Corner Lot Location Adjacent to a Village Fresh Market at the Heavily Trafficked Intersection of Kennedy Dr and Lake Marian
  • Extremely Low Rent/SF of ~$18/SF
  • Minimal Landlord Responsibilities Ideal for an Investor Looking for a More Passive Investment
  • Walgreens (NYSE: WAG) Is the Second Largest Pharmacy Store Chain in the United States | Nearly 9,000 Locations and Total Revenue of Over $139B
  • Long Historical Occupancy | Walgreens Has Occupied the Subject Property for Over 25 Years

OVERVIEW

Situated as an outparcel to a bustling Walmart Supercenter, this property boasts a prime location within a vibrant shopping center that features well-known tenants like Starbucks, O’Reilly Auto Parts, Wingstop, Subway, AutoZone, and Belle Tire. The highly visible, signalized corner lot is adjacent to a Village Fresh Market, located at the busy intersection of S Kennedy Dr and Lake Marian Rd, where around 33,574 vehicles pass each day. The area is characterized by a wealthy and dense consumer base, with over 112,828 residents and an average household income of $114,553 within a 5-mile radius, making it an appealing site for retail investment. Walgreens, the second-largest pharmacy chain in the United States, has been a tenant of this property for more than 25 years, demonstrating strong historical occupancy alongside reported annual retail sales of $2.3 million. The property offers extremely low rent at approximately $18/SF and minimal landlord responsibilities, making it attractive for investors looking for a more passive income opportunity. Additionally, recent enhancements, including a roof replacement in 2023 with a transferable warranty, increase its investment value. Walgreens' ongoing investment in telehealth and e-commerce ensures it remains well-positioned to meet the growing consumer demand for convenient healthcare solutions in this thriving Chicago metropolitan area. Illinois Broker of Record: Steven Weinstock One Mid America Plaza, Ste. 200 Oakbrook Terrace, IL 60181 Steven.Weinstock@MarcusMillichap.com Lic #: 471.011175

FOR SALE DETAILS

PRICE

$3,604,403 USD

PRICE/SF

$262 USD /SF

CAP RATE

6.95%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens | 6.95% Cap | Chicago MSA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

55

LAND DETAILS

LAND ACRES

1.74 AC

LAND SF

75,794 SF

ZONING

-

APN/PARCEL ID

03-14-276-030

ASK ABOUT THIS PROPERTY

Tyler BindiMarcus & MillichapMore Info
408-510-9057

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Tyler BindiMarcus & MillichapMore Info
408-510-9057

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.