For Sale
$3,200,000

2532 Illinois StSwansea, IL 62226

High-yield Walgreens, 10+ year lease.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a freestanding Walgreens located at 2532 N Illinois St, Swansea, IL 62226. The 13,905 square foot property boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $223,992. The property benefits from a 100% occupancy rate with Walgreens, a highly reputable tenant, under a net lease with over 10.1 years remaining. The lease includes nine five-year renewal options, providing long-term stability and predictable cash flow. Built in 1997, this single-tenant retail property is strategically positioned along North Illinois Street and Fullerton Road, enjoying high visibility with over 33,200 vehicles passing daily. Its adjacency to Swansea Plaza, a shopping center attracting over 1.7 million annual visitors, further enhances its desirability. The surrounding area demonstrates strong demographics, with over 6,377 residents within a one-mile radius and average annual household incomes exceeding $109,570. Nearby businesses, including a high-performing McDonald's and Scooter's Coffee, contribute to the area's vibrancy. The property's location near High Mount School adds to its appeal. This investment offers a compelling opportunity for passive income generation, backed by a leading tenant in a prime market with excellent real estate fundamentals. The asking price is $3,200,000, translating to a price per square foot of $230.13. The Walgreens store reports strong sales of $2,234,000 (excluding prescription sales). This is a rare opportunity to acquire a stable, high-performing retail asset with significant long-term potential.

Highlights

  • NN lease with over 10 years remaining, minimal landlord responsibilities.
  • High-traffic location on North Illinois Street and Fullerton Road, exceeding 33,200 vehicles per day.
  • Adjacent to Swansea Plaza, a high-traffic shopping center with over 1.7 million annual visitors.
  • Located in an affluent Indianapolis submarket, with average household incomes exceeding $109,000 within one mile.
  • Strong demographics: over 114,000 residents within a five-mile radius.
  • High-performing tenants: Top-performing McDonald's and Scooter's Coffee locations.

Property Details for 2532 Illinois St

Property type
Retail properties, Drug stores
Square Feet
13,905 SF
Year Built
1997

Location Insight

City
Swansea
County
St. Clair
State
Illinois
Latitude
38.54108778098
Longitude
-89.983143395655
2532 Illinois St, Swansea, Illinois

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2532 Illinois St
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