Walgreens - 13 Yr. Primary Term | 841 Bloomington Rd
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Walgreens - 13 Yr. Primary Term 841 Bloomington Rd
12,585 SF Retail Building Champaign, IL 61820 $5,200,000 ($413/SF) 5.70% Cap Rate
Investment Highlights
- STNL Walgreens (Fee Simple) – Investment Grade Credit Tenant Rated “BBB” by S&P
- Absolute NNN Leased Asset – Zero Landlord Responsibilities
- New 13 Year Primary Term with Options to Extend into 2095
- Ideal for 1031 Exchange or Investment with Predictable Long-term Cashflows
Executive Summary
The Snyder Carlton National Net Lease Team is pleased to offer an opportunity to purchase a single tenant absolute NNN leased investment (fee simple) that is fully occupied by Walgreens with a new 13-year lease term with 5% rental increases every 5 years including option periods. The store has a strong sales performance history which is evidenced by their recent new long-term lease commitment. Located in the college town of Champaign, IL, the subject property is positioned at the intersection of Bloomington Road and Prospect Avenue which sees over 42,900 VPD and is within 2 miles of the University of Illinois Urbana-Champaign and Parkland College with a combined enrolment of over 50,000 students. The 1.76-acre parcel and 14,820SF building adjoins Pioneer plaza, is directly opposite The Home Depot, and boasts great visibility and accessibility. Nearby national retailers include McDonald’s, Jimmy John’s, Popeyes, Dollar General, Rent-A-Center, and NAPA Auto Parts. This is an excellent opportunity to own an investment grade credit tenant (rated “BBB” by S&P) on a hard corner signalized intersection with a new 13-year lease term, 60 years of options, and zero landlord obligations.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
12,585 SF
Building Class
C
Year Built
2022
Price
$5,200,000
Price Per SF
$413
Cap Rate
5.70%
NOI
$296,400
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
1.76 AC
Parking
84 Spaces (6.67 Spaces per 1,000 SF Leased)
Frontage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 41-20-01-351-031 | Improvements Assessment | $322,850 |
| Land Assessment | $216,100 | Total Assessment | $538,950 |
PROPERTY TAXES
Parcel Number
41-20-01-351-031
Land Assessment
$216,100
Improvements Assessment
$322,850
Total Assessment
$538,950
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Walgreens - 13 Yr. Primary Term | 841 Bloomington Rd
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