1311 N State Route 48 - Drug Store FOR SALE


Decatur, IL 62526
$3,470,000 USD
424-253-7790
1311 N State Route 48, Decatur, IL for Sale
$3,470,000 USD
Drug Store - FOR SALE
1/6
null | 7.45% Cap Rate

1311 N State Route 48
Decatur, IL 62526


HIGHLIGHTS

  • Strong Unit level performance - Double the national average
  • The lease is fee simple absolute NNN with no landlord responsibilities
  • 9+ years remaining, Twelve (12) - 5-Year renewal options
  • Strong local demographics with population in excess of 74,000 and average household income is $82,730 within a 5 mile radius
  • Drive-Thru Pharmacy: This serves as a convenience for customers picking up prescription medication
  • Walgreens is ranked #27 on the Fortune 500 list for total Revenue (2024)

OVERVIEW

AiCRE Partners, as exclusive investment sales advisor to Seller, is pleased to offer the opportunity to acquire the fee simple interest in the Walgreens located at 1131 IL-48 in Decatur, Illinois. The property is occupied by Walgreens, one of the nation’s largest and most established pharmacy-led retailers, operating thousands of locations across the United States and serving as a daily needs anchor in communities nationwide. Walgreens benefits from strong brand recognition, essential-service demand, and a resilient business model supported by prescription drug sales, health services, and convenience retail offerings. The property is strategically positioned along Illinois Route 48, a primary commercial corridor in Decatur, providing excellent visibility, convenient ingress and egress, and strong exposure to both local and commuter traffic. The site is well-located near surrounding residential neighborhoods and complementary retail and service uses, allowing the store to effectively serve a broad customer base while benefiting from consistent daily traffic patterns. Decatur serves as the county seat of Macon County and functions as a key regional center for healthcare, manufacturing, education, and government within Central Illinois. The city is supported by a stable employment base, anchored by major employers, regional medical facilities, and higher education institutions, and offers connectivity to larger Midwest markets via nearby highways. As an established infill location leased to a nationally recognized, creditworthy tenant, the Walgreens at 1131 IL-48 presents investors with the opportunity to acquire a durable net-leased asset backed by long-term fundamentals and essential retail demand.

FOR SALE DETAILS

PRICE

$3,470,000 USD

PRICE/SF

$269 USD /SF

CAP RATE

7.45%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2002

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.9 AC

LAND SF

82,764 SF

ZONING

MUNICIPAL

APN/PARCEL ID

04-12-09-284-009,04-12-09-284-010

ASK ABOUT THIS PROPERTY

Jason GribinAiCRE Parnters, IncMore Info
424-253-7790

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Jason GribinAiCRE Parnters, IncMore Info
424-253-7790

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