1 S Commercial St - Freestanding FOR SALE


Harrisburg, IL 62946
$2,272,727 USD
847-562-0003
1 S Commercial St, Harrisburg, IL for Sale
$2,272,727 USD
Freestanding - FOR SALE
1/3
null | 6.6% Cap Rate

1 S Commercial St
Harrisburg, IL 62946


HIGHLIGHTS

  • Long-Term Lease - Approximately 12 years remaining through June 2038.
  • 25-Year Operating History - This pharmacy location has been continuously operated since the building was constructed in 1998.
  • Anchored Trade Area - The immediate market is supported by Walmart Supercenter, Kroger, ALDI, McDonald’s, and the 77-bed SIH Harrisburg Medical Center
  • Strong Regional Access - Harrisburg is served by the convergence of four highways (U.S. 45 and Illinois 13, 145, and 34), positioning it as the region
  • 5% Rental Escalations - Built into each of the four 5-year renewal option periods.
  • Recently Improved Parking Lot – The parking lot was recently resurfaced and restriped.

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased CVS Pharmacy located in Harrisburg, Illinois. CVS has operated from this location for more than 25 years. CVS is currently operating on a long-term net lease that extends through June 2038, with approximately 12 years of remaining term. Additionally, the lease provides for 5% rental increases in each of the four 5-year renewal options. The lease is backed by CVS Corporation, and the tenant maintains investment-grade credit ratings of BBB from S&P and Baa3 from Moody’s. The 10,722 square foot building is positioned at the northwest corner of Commercial Street and Poplar Street in downtown Harrisburg, the county seat of Saline County. Harrisburg serves as the commercial and administrative hub of Saline County and is accessed by the convergence of four highways - U.S. Route 45, IL Route 13, 145, and 34 The trade area is anchored by a Walmart Supercenter and by SIH Harrisburg Medical Center, a 77-bed community hospital, and the city is nationally recognized as the gateway to the Shawnee National Forest and the Garden of the Gods Recreation Area, drawing consistent visitor traffic. Surrounding national and regional retailers include ALDI, Kroger, McDonald’s, Taco Bell, KFC, Dollar General, O’Reilly Auto Parts, Murphy USA, Sonic Drive-In, Dairy Queen, Burger King, and Scooter’s Coffee. CVS Health Corporation is one of the largest integrated healthcare and pharmacy companies in the United States, operating approximately 9,000 retail pharmacy locations nationwide. Founded in 1963 as Consumer Value Stores and headquartered in Woonsocket, Rhode Island, the company has grown into a diversified healthcare enterprise spanning retail pharmacy, pharmacy benefit management through CVS Caremark, and health insurance through its Aetna segment. CVS Pharmacy remains the consumer-facing retail brand, offering prescription services, health and wellness products, and everyday convenience goods.

FOR SALE DETAILS

PRICE

$2,272,727 USD

PRICE/SF

$224 USD /SF

CAP RATE

6.6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.13 AC

LAND SF

49,223 SF

ZONING

-

APN/PARCEL ID

06-2-559-01

ASK ABOUT THIS PROPERTY

Randy BlanksteinThe Boulder GroupMore Info
847-562-0003

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Randy BlanksteinThe Boulder GroupMore Info
847-562-0003

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