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    835 W Galena Ave Freeport, IL 61032

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    For Sale
    $1,636,000

    NN leased Walgreens in Freeport, IL with corporate guarantee.

    Property size:
    12,023 SF
    Lot size:
    0.98 Acres

    Property Features for 835 W Galena Ave

    General Information

    Size
    12,023 SF
    Lot size
    0.98 Acres

    Source: SRS Real Estate Partners | Chicago Agent Sean Lutz

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Walgreens NN Lease Investment Opportunity

    This is a fee simple interest (land & building ownership) opportunity to acquire a NN leased, corporate guaranteed, investment grade Walgreens investment property in Freeport, IL (Rockford MSA). The tenant, Bond Drug Company of Illinois, LLC, has over 3 years remaining on their initial term with 5 (5-year) option periods left to extend. The tenant has operated at this location for more than 20 years and extended their lease by an additional 10 years, demonstrating long-term commitment to the site. The lease is guaranteed by the corporate entity and is NN with limited landlord responsibilities. Headquartered in Deerfield, IL, Walgreens operates more than 9,200 stores across all 50 states and was recently included in FORTUNE’s 2020 list of the World’s Most Admired Companies for the 27th consecutive year. Walgreens is currently ranked number 16 on the Fortune 500. The property is suitable for passive investors.
    Insight Report Location Intelligence

    Current Use by Public Records

    Drug stores

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Walgreens Pharmacy, Nicole R. Gerber, Pharm, Brian Reusch, Nicole Gerber, Skin Beauty by Stacie Green

    Location Insight

    • Map
    • Local Demand
    City
    Freeport
    County
    Stephenson
    State
    Illinois
    Longitude
    -89.6328669
    Latitude
    42.30138

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    FAQs

    What type of property is this?
    Drug store - NN leased Walgreens in Freeport, IL with corporate guarantee.
    Where is this drug store located?
    The property is located at 835 W Galena Ave Freeport, IL.
    What is the asking price?
    The asking price for this property is $1,636,000.
    What are key features of this property?
    This property features: - Corporate guaranteed lease by Walgreens (S&P: BBB), an investment-grade tenant.; - NN lease structure with limited landlord responsibilities, ideal for passive investors.; - Tenant has a long operating history (20+ years) at this location, demonstrating commitment.
    (312) 437-8598
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    835 W Galena Ave Freeport, IL 61032
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