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Walgreens 110 Walnut St

14,820 SF Retail Building Highland, IL 62249 $4,000,000 ($270/SF) 7% Cap Rate

Drug Stores Illinois Highland 110 Walnut St, Highland, IL 62249

Investment Highlights

  • Strong Reported Sales – 10% Rent to Sales Ratio – Mitigated Future Vacancy Risk
  • Out Positions & Outperforms CVS within Highland Market – Walgreens Receives Double the Customer Visits (Source: Placer.ai)
  • Early Lease Extension (July 2024) – 11.5 Years Remaining on Absolute NNN Lease 
  • Critical Business Driver - Less than 1 Mile from HSHA St. Joseph’s Hospital – Serving Highland and Surrounding Communities for over 135 Years

Executive Summary

The fee simple interest of a Walgreens investment property located in Highland, Illinois (the “Property”). Built in 2004, the Property consists of a 14,820-square-foot retail building with a drive-thru that sits on an approximately 1.35-acre parcel. Walgreens shows commitment to this site with a newly inked lease extension that just commenced. This location has strong reported sales and a healthy 10% rent to sales ratio. Absolute-NNN lease structure and no landlord responsibilities.

Attachments

Walgreens - Highland, IL

Property Facts

Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,820 SF
Building Class
B
Year Built
2004
Price
$4,000,000
Price Per SF
$270
Cap Rate
7%
NOI
$280,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
1.35 AC

Amenities

  • Signalized Intersection
  • Drive Thru
  • Monument Signage
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Nearby Major Retailers

First Mid Bank
Ruler Foods
Mazzio's
Busey Bank
U.S. Bank
Regions Bank
Wood Forest Bank

PROPERTY TAXES

Parcel Number 02-2-18-32-14-301-010.001 Improvements Assessment $368,920
Land Assessment $179,070 Total Assessment $547,990

PROPERTY TAXES

Parcel Number
02-2-18-32-14-301-010.001
Land Assessment
$179,070
Improvements Assessment
$368,920
Total Assessment
$547,990
(760) 448-2449

Contacts

  • Listing ID: 32556392

  • Date on Market: 7/23/2024

  • Last Updated:

  • Address: 110 Walnut St, Highland, IL 62249

More public record information on 110 Walnut St, Highland, IL 62249

The Retail Property at 110 Walnut St, Highland, IL 62249 is currently available for sale. Contact Lee & Associates for more information.

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Walgreens | 110 Walnut St
(760) 448-2449 x

Walgreens | 110 Walnut St

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Ryan Bennett

(760) 448-2449

(760) 448-2449

Drew Olson

(760) 448-1372

(760) 448-1372

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