110 Walnut St - Drug Store FOR SALE


Highland, IL 62249 | 
$3,620,000 USD
727-452-6864
110 Walnut St, Highland, IL for Sale
$3,620,000 USD
Drug Store - FOR SALE
1/6
null | 7.73% Cap Rate

110 Walnut St
Highland, IL 62249


HIGHLIGHTS

  • Walgreens pays real estate taxes directly to the taxing authority and carries all property and liability insurance
  • Tenant maintains and replaces the roof, structure, parking lot and every other element of the premises
  • The lease is a corporate lease with Walgreen Co., with no operating subsidiary or single-purpose entity between the Landlord and the credit
  • Walgreen Co. remains liable for the full term notwithstanding any assignment, so a transfer cannot impair the covenant
  • Freestanding building on ±1.35 acres at the southwest corner of US Highway 40 and Walnut Street, with frontage on both
  • 12,311 residents live within three miles of the property in an established Metro East community

OVERVIEW

RIPCO Real Estate is pleased to offer for sale 110 Walnut Street, a ±14,820 square foot freestanding Walgreens on ±1.35 acres at the southwest corner of US Highway 40 and Walnut Street in Highland, Illinois, within the St. Louis metropolitan area. The property is leased on an absolute NNN basis directly to Walgreen Co. with 9.5 years of term remaining. Walgreens pays real estate taxes directly to the taxing authority, carries all property and liability insurance, and maintains and replaces the roof, structure, parking lot and every other element of the premises, with no CAM, no reconciliation and no management fee. Highland sits in Madison County within the Metro East, with Interstate 70 access about 4.2 road miles northwest via Illinois Route 143. Within three miles the trade area holds 12,311 residents with an average household income of $112,775. The asset would be an attractive opportunity for an investor seeking absolute NNN income from a direct corporate obligor with no operating responsibility.

FOR SALE DETAILS

PRICE

$3,620,000 USD

PRICE/SF

$244 USD /SF

CAP RATE

7.73%

% 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

2004

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.35 AC

LAND SF

58,806 SF

ZONING

-

APN/PARCEL ID

02-2-18-32-14-301-010.001

ASK ABOUT THIS PROPERTY

Ari RaviRIPCO Real EstateMore Info
727-452-6864

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Ari RaviRIPCO Real EstateMore Info
727-452-6864

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