555 19th Ave - Drug Store FOR SALE


Moline, IL 61265- Old Towne
$4,074,000 USD
847-562-0003
555 19th Ave, Moline, IL for Sale
$4,074,000 USD
Drug Store - FOR SALE
1/2
null | 8.1% Cap Rate

555 19th Ave
Moline, IL 61265
Old Towne


HIGHLIGHTS

  • Over 8 years remain on the primary lease term
  • NNN lease – No landlord responsibilities
  • Successful operating history since 2002 with a long-term extension
  • Signalized hard corner along 19th Avenue & 7th Street – Combined 23,700 VPD
  • Neighboring retailers include Jewel-Osco, Salvation Army, Starbucks, O’Reilly Auto Parts, Shell, UnityPoint, & several others
  • Over 166,000 people live within a five-mile radius

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property located within the Quad Cities MSA in Moline, Illinois. Walgreens has successfully operated at this location since 2002 and extended the lease with a long-term extension demonstrating their commitment to the property. The lease is absolute triple net featuring no landlord responsibilities. The lease runs through February 2034 leaving over 8 years of term remaining. Additionally, there are seven 5-year renewal options. Walgreens is the second largest pharmacy store chain in the United States with a Fortune 500 ranking of 28 for total revenue. The 14,392-square-foot building is strategically located at a signalized intersection along 19th Avenue and 7th Street which experience a combined 23,700 vehicles per day. The property benefits from its proximity to Interstate 74 (78,100 vehicles per day), providing direct access to Peoria and surrounding areas. The property is situated in a densely populated area, more than 166,000 residents live within a five-mile radius, with an average household income exceeding $81,000. The location also enjoys strong visibility and traffic flow, bolstered by nearby national and regional retailers including Jewel-Osco, Salvation Army, Starbucks, O’Reilly Auto Parts, Shell, UnityPoint Health, and others. Walgreens is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc., a global leader in retail pharmacy. As America’s most loved pharmacy, health and beauty company, Walgreens purpose is to champion the health and wellbeing of every community in America. Operating more than 8,600 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving approximately 8 million customers each day. Walgreens pharmacists play a critical role in the U.S. healthcare system by providing a wide range of pharmacy and healthcare services.

FOR SALE DETAILS

PRICE

$4,074,000 USD

PRICE/SF

$320 USD /SF

CAP RATE

8.1%

% 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

2002

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.69 AC

LAND SF

73,616 SF

ZONING

MOL

APN/PARCEL ID

17-06-235-026

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 Policy.