411 W Lincoln Ave - Drug Store FOR SALE


Charleston, IL 61920
$5,600,000 USD
411 W Lincoln Ave, Charleston, IL for Sale
$5,600,000 USD
Drug Store - FOR SALE
1/3
null | 7% Cap Rate

411 W Lincoln Ave
Charleston, IL 61920


HIGHLIGHTS

  • Over 7 years remain on the primary lease term
  • Successful operating history since 2008 – demonstrating commitment
  • Located along West Lincoln Avenue (IL-16) (24,600 VPD)
  • Within walking distance from Eastern Illinois University (9,000+ students)
  • Neighboring retailers include Starbucks, Ace Hardware, McDonald’s, Chevrolet, Buick, GMC, Ruler Foods, & several others
  • $76,187 Average household income within five miles

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property located in Charleston, Illinois. Walgreens has successfully operated at this location since 2007 demonstrating commitment. The lease is absolute triple net featuring no landlord responsibilities. The lease runs through November 2032 leaving over 7 years of term remaining. Additionally, there are ten 5-year renewal options. Walgreens is the second largest pharmacy store chain in the United States with a Fortune 500 ranking of 27 for total revenue The 14,550-square-foot building is strategically located along West Lincoln Avenue, also known as IL-16, which is a major thoroughfare for the area that experiences over 24,600 vehicles per day. IL-16 also connects the property to Eastern Illinois University. The university is found less than one mile east of the subject and enrolls over 9,000 students every year. Neighboring retailers found nearby include Starbucks, Ace Hardware, McDonald’s, Chevrolet, Buick, GMC, Ruler Foods, and several others. There are over 19,000 people living within a five-mile radius. Those of which earn an average household income of $76,187. Walgreens is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc., a global leader in retail pharmacy. As America’s most loved pharmacy, health and beauty company, Walgreens purpose is to champion the health and wellbeing of every community in America. Operating more than 8,600 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving approximately 8 million customers each day. Walgreens pharmacists play a critical role in the U.S. healthcare system by providing a wide range of pharmacy and healthcare services.

FOR SALE DETAILS

PRICE

$5,600,000 USD

PRICE/SF

$385 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.43 AC

LAND SF

62,291 SF

ZONING

-

APN/PARCEL ID

02-2-17937-000

ASK ABOUT THIS PROPERTY

Randy BlanksteinThe Boulder GroupMore Info

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Randy BlanksteinThe Boulder GroupMore Info

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