Walgreens on Illinois Route
1311 IL-48 Decatur, IL 62526
1311 IL-48, Decatur, IL, 62526
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For Sale
Contact for pricing
Net-leased Walgreens in Decatur, Illinois, a durable investment opportunity.
Property Size12,918 SF
Price / SF$268.62
Days on Market653
Property Features for 1311 IL-48
General Information
- Standard status
- Active
- Size
- 12,918 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2002
Listing agency
AiCRE Partners
Listed by
Jason Gribin · License #CA 01819611
Source
Crexi
Added: Oct 7, 2024 Updated: Jul 6 at 8:24AM Checked: Jul 21 at 9:21AM
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 AiCRE Partners
Investment Insights
Based on property information with market context.
The Walgreens property, situated at 1131 IL-48 in Decatur, Illinois, is available for acquisition. Occupied by Walgreens, a prominent pharmacy-led retailer with a widespread presence across the United States, this location serves as a key daily needs anchor within the community. Walgreens benefits from significant brand recognition and a resilient business model supported by prescription drug sales, health services, and convenience retail offerings. The property is strategically located along Illinois Route 48, a major commercial corridor in Decatur, offering high visibility, convenient access, and exposure to local and commuter traffic. Its proximity to residential neighborhoods and various retail and service establishments enables it to serve a broad customer base and benefit from consistent daily traffic. Decatur, the county seat of Macon County, functions as a regional hub for healthcare, manufacturing, education, and government in Central Illinois. The city has a stable employment base, supported by major employers, regional medical facilities, and higher education institutions, and offers connectivity to larger Midwest markets via nearby highways. The property size is 12918 square feet. This established infill location, leased to a nationally recognized tenant, presents investors with the opportunity to acquire a net-leased asset supported by long-term fundamentals and essential retail demand.
Key Highlights
- Net‑leased asset occupied by Walgreens, a nationally recognized pharmacy‑led retailer.
- Located along Illinois Route 48, a primary commercial corridor, providing excellent visibility and access.
- Strategically positioned near residential neighborhoods and complementary retail.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $220.1k | $17.04 |
| − Vacancy | −$17.6k | −$1.36 |
| EGI | $202.5k | $15.68 |
| − OpEx | −$50.6k | −$3.92 |
| NOI | $151.9k | $11.76 |
12,918 SF · lease $17.04/SF/yr · vacancy 8.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.17M
$1.90M – $2.53M
NOI $151,885 @ 7.0% cap · market cap 4.38%
Second Best
Retail
$1.66M
$1.45M – $1.93M
NOI $116,020 @ 7.0% cap · market cap 3.34%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Drug stores
Similar For Sale Nearby
Similar Off Market Nearby
- Walgreens Pharmacy — 225 E Ash Ave, Decatur, IL 62526
- Michael Lutz — 225 E Ash Ave, Decatur, IL 62526
- Karin Chang — 225 E Ash Ave, Decatur, IL 625266157
- Larry Christensen — 225 E Ash Ave, Decatur, IL 62526
- Claudia Colombo — 225 E Ash Ave, Decatur, IL 625266157
FAQs
What type of property is this?
Drug store - Net-leased Walgreens in Decatur, Illinois, a durable investment opportunity.
Where is this drug store located?
The property is located at 1311 IL-48 Decatur, IL.
What is the asking price?
The asking price for this property is $3,470,000.
What are key features of this property?
This property features: Net‑leased asset occupied by Walgreens, a nationally recognized pharmacy‑led retailer.; Located along Illinois Route 48, a primary commercial corridor, providing excellent visibility and access.; Strategically positioned near residential neighborhoods and complementary retail.
