For Sale
$4,000,000
110 Walnut St Highland, IL 62249
High-yield Walgreens, 11.9 years remaining.
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 127
Highlights
- Walgreens-occupied retail property at 110 Walnut St, Highland, IL 62249. 14,820 sq ft building on 1.35 acres, built in 2004, with drive-thru.
- Absolute NNN lease with credit-rated corporate guarantor; 11.9 years remaining (expires 03/31/2036). 7.00% cap rate, $280,000 NOI, $4,000,000 asking price ($269.91/sq ft).
- 10% rent-to-sales ratio, mitigating vacancy risk; lease recently extended. Walgreens significantly outperforms CVS in the local market.
- Located less than one mile from HSHA St. Joseph's Hospital, serving Highland and surrounding communities for over 135 years. Ideal for a 1031 exchange.
Property Details for 110 Walnut St
- Property type
- Retail properties, Drug stores
- Square Feet
- 14,820 SF
- Year Built
- 2004
- Buildings
- 1
- Lot Size (sq. ft)
- 58,806 SF
Location Insight
- City
- Highland
- County
- Madison
- State
- Illinois
- Latitude
- 38.7475947
- Longitude
- -89.6815474
110 Walnut St, Highland, Illinois
Nearby Similar for Sale
FAQs
- What type of property is this?
- Retail property - High-yield Walgreens, 11.9 years remaining.
- Where is the retail property located?
- The property is located at 110 Walnut St Highland, IL.
- What is the asking price?
- The asking price for this property is $4,000,000.
- What are key features of this property?
- This property features: Walgreens-occupied retail property at 110 Walnut St, Highland, IL 62249. 14,820 sq ft building on 1.35 acres, built in 2004, with drive-thru.; Absolute NNN lease with credit-rated corporate guarantor; 11.9 years remaining (expires 03/31/2036). 7.00% cap rate, $280,000 NOI, $4,000,000 asking price ($269.91/sq ft).; 10% rent-to-sales ratio, mitigating vacancy risk; lease recently extended. Walgreens significantly outperforms CVS in the local market.
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