680 E Boughton Rd - Drug Store FOR SALE


Bolingbrook, IL 60440
$4,900,000 USD
312-624-7006
680 E Boughton Rd, Bolingbrook, IL for Sale
$4,900,000 USD
Drug Store - FOR SALE
1/8
null | 7.75% Cap Rate

680 E Boughton Rd
Bolingbrook, IL 60440


HIGHLIGHTS

  • 7.75% CAP absolute net leased Walgreens with zero landlord responsibilities - fully passive investment structure
  • Walgreens has over 8 years of primary lease term remaining on an original 25-year lease
  • Higher yield asset, particularly compared to competing drug stores on the market
  • Exceptional underlying real estate on the hard corner of East Boughton and Feather Sound Drive, Bolingbrook’s primary retail node just west of I-355
  • Directly across the street from The Promenade Bolingbrook Mall. Proximate to additional retail properties anchored by Costco, Meijer, and IKEA
  • Desirable demographics with over 75,000 people and $114,000 average income within a 3-mile radius

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a long-term absolute net-leased Walgreens located at 680 E Boughton Rd, Bolingbrook, IL. The asset is well sited on the hard corner of Boughton and Feather Sound Drive, a signalized intersection with traffic counts exceeding 45,000 vehicles per day. There are currently over 8 years remaining on an original 25-year, absolute net lease with zero landlord responsibilities. This Walgreens is offered at an above market yield and is highly financeable at today’s interest rates. The property has ingress and egress onto both Boughton and Feather Sound. Boughton Road is the primary east/west artery through Bolingbrook and features major retailers like Costco, Meijer, IKEA, and more. The underlying real estate is irreplaceable and draws heavy traffic flow from The Promenade Bolingbrook Mall. Built in 2007, the 750,000 square-foot open-air entertainment destination has over 50 shops and 10 restaurants. It features tenants such as Macy’s, Binny’s, Barnes and Noble, Bass Pro Shops, and Star Cinema Grill. The demographics surrounding this property are especially noteworthy, with a population of over 75,000 people living within a 3-mile radius, and average household incomes of roughly $114,000. Competitively priced at a 7.75% CAP rate, this is an opportunity to purchase a high-yield single tenant asset located within a dense and desirable retail node.

FOR SALE DETAILS

PRICE

$4,900,000 USD

PRICE/SF

$331 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7.75% CAP WALGREENS | ABS NET LEASE | +8 YRS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.85 AC

LAND SF

80,586 SF

ZONING

-

APN/PARCEL ID

12-02-01-111-041

ASK ABOUT THIS PROPERTY

Mitchell KivenMarcus & MillichapMore Info
312-624-7006

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Mitchell KivenMarcus & MillichapMore Info
312-624-7006

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