2532 Illinois StSwansea, IL 62226

Property Details for 2532 Illinois St

Year built

1997

Construction

STEEL FRAME

Lot size

1.82 AC

Property size (Sq ft)

13,836 SF

Property type

Commercial real estate

APN

08-15-0-100-020

APU

8150100020

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $3,619,978

  Hospitality

  $3,315,881

  Educational

  $2,758,774

  Medical

  $2,853,652

  Retail

  $4,291,426

Location Insight

City

Swansea

County

St. Clair

State

Illinois

Latitude

38.5409

Longitude

-89.9828

CBSA code

41180

CBSA name

ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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