2140 Peoria Rd - Drug Store FOR SALE
Springfield, IL 62702 |
$1,823,529 USD
214-692-2847
2140 Peoria Rd
Springfield, IL 62702
HIGHLIGHTS
- Low Rent Compared to Walgreens Store Fleet – Walgreens typically pays between $280,000 and $320,000 in annual rent at comparable locations
- Established 30-Year Operating History – Walgreens has operated successfully at this location since 1994, demonstrating more than three decades
- Rare 21.2% Rent Increase Opportunity – At the end of the current lease term, and upon another waived termination option
- Strong Downside Protection – Comparable Walgreens properties with similar building and lot sizes are commonly valued between $3 million and $6 million
- State Capital Economic Anchor – Located in Springfield, Illinois, the state capital, the property benefits from a stable, government-driven economy
- Essential National Tenant – Walgreens remains one of the nation’s most important retailers, operating approximately 8,000 locations, employing 211,000
FOR SALE DETAILS
PRICE
$1,823,529 USD
PRICE/SF
$136 USD /SF
CAP RATE
8.5%
% 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
1990
SPRINKLERS
-
PARKING SPACES
70
LAND DETAILS
CROSS STREETS
E Sangamon Rd.
LAND ACRES
1.43 AC
LAND SF
62,291 SF
ZONING
-
APN/PARCEL ID
14-22.0-230-057
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214-692-2847
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214-692-2847
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