Walgreens Drug
110 Walnut Street, Highland, IL 62249
For Sale
Contact for pricing
Walgreen Co. occupies the freestanding store under an absolute NNN lease with tenant responsibility for property expenses and maintenance.
Property Size14,820 SF
Lot Size1.35 Acres
Price / SF$237.52
Days on Market52
Property Features for 110 Walnut Street
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Corner Location
Highway Access
Building Details
Tenancy
Listing Agency:
Ripco Real Estate
Listed By:
Ari Ravi · License IL SL-3210827
(727) 452-6864
Source:
Crexi
Added: Sep 23
Changed: Nov 8
Last Checked: Nov 12 at 4:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ripco Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding drug store contains ±14,820 square feet on a ±1.35-acre parcel. Walgreen Co. is the direct corporate tenant, with 9.5 years remaining on an absolute NNN lease. The tenant pays real estate taxes and carries property and liability insurance, while also handling maintenance and replacement of the roof, structure, parking lot, and other property components. The arrangement has no CAM, reconciliations, or management fee.
At the southwest corner of US Highway 40 and Walnut Street in Highland, Illinois, the property is about 4.2 road miles from Interstate 70 access via Illinois Route 143. The three-mile trade area has 12,311 residents.
At the southwest corner of US Highway 40 and Walnut Street in Highland, Illinois, the property is about 4.2 road miles from Interstate 70 access via Illinois Route 143. The three-mile trade area has 12,311 residents.
Key Highlights
- Freestanding drug store with ±14,820 square feet on ±1.35 acres
- Absolute NNN lease to Walgreen Co., with 9.5 years remaining
- Tenant handles taxes, insurance, and maintenance of the roof, structure, parking lot, and other property components
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$181,877
Cap Rate
5.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,637,540
$3.6M
Cap Rate 7%
$2,598,243
$2.6M
Cap Rate 9%
$2,020,856
$2.0M
Market Conditions
NOI Build-Up for 14,820 SF
Gross rent
$266.8K $18.00/SF
− Vacancy
−$6.9K −$0.47/SF
EGI
$259.8K $17.53/SF
− OpEx
−$77.9K −$5.26/SF
NOI
$181.9K $12.27/SF
Area
Madison County, IL
Vacancy
2.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,637,540
Cap Rate 7%
$2,598,243
Cap Rate 9%
$2,020,856
Alternative Uses
Best Use
Retail
$2.60M
$2.27M – $3.03M
NOI $181,877 @ 7.0% cap · market cap 5.17%
Second Best
Specialty Retail
$2.51M
$2.20M – $2.93M
NOI $175,763 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$4.04M
$3.53M – $4.71M
NOI $282,766 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
626
Businesses Nearby
106k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Shops & Services 37%
Apparel 8%
Home Improvements & Furnishings 5%
McDonald's
Dining
20,604 visits/mo
0.4 miles
Circle K
Shops & Services
18,785 visits/mo
0.3 miles
Scooter's Coffee
Dining
9,412 visits/mo
0.5 miles
SONIC Drive In
Dining
8,694 visits/mo
0.3 miles
Hardee's
Dining
6,728 visits/mo
0.1 miles
Demographics for 62249, IL
16,052
Population
7,317
Households
2.2
Avg Household Size
42
Median Age
36%
College-Educated
96%
High-School Grad
88.7 sq mi
ZIP Area
181
Density / Sq Mi
$88,986
Median Household Income
$53,122
Median Earnings
$779
Median Rent
$220,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Highland Nutrition Center — 320 Walnut St, Highland, IL 62249
- Walgreens Pharmacy — 110 Walnut St, Highland, IL 62249
- CVS Pharmacy — 12630 IL-143, Highland, IL 62249
- CVS — 12630 IL-143, Highland, IL 62249
- Susan Mccray, RPH — 110 Walnut St, Highland, IL 62249
Frequently Asked Questions
What type of property is this?
Drug store - Walgreen Co. occupies the freestanding store under an absolute NNN lease with tenant responsibility for property expenses and maintenance.
Where is this drug store located?
The property is located at 110 Walnut Street Highland, IL.
What is the asking price?
The asking price for this property is $3,520,000.
What are key features of this property?
This property features: Freestanding drug store with ±14,820 square feet on ±1.35 acres; Absolute NNN lease to Walgreen Co., with 9.5 years remaining; Tenant handles taxes, insurance, and maintenance of the roof, structure, parking lot, and other property components
