Absolute NNN Pharmacy
For Sale
Contact for pricing
Pending
1400 E Roosevelt Rd, Wheaton, IL 60187
CVS Pharmacy is offered for sale with an absolute NNN lease subleased to Dollar General.
Property Size10,836 SF
Days on Market154
Property Features for 1400 E Roosevelt Rd
General Information
Standard status
Pending
Size
10,836 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Net Operating Income
$460,800
Building Details
Year Built
2005
Tenancy
Single
Listing Agency:
JLL Chicago | Americas Headquarters
Listed By:
Josh Katlin · License #IL 475.202814
Source:
Crexi
Added: Apr 6
Changed: Aug 8
Last Checked: Jul 24 at 8:57AM
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 JLL Chicago | Americas Headquarters
Investment Insights
Based on property information with market context.
JLL is pleased to offer the opportunity to acquire the CVS Pharmacy at 1400 E Roosevelt Rd in Wheaton, Illinois. The property is currently subleased to Dollar General, and the tenant operates under an absolute NNN lease structure.
The lease includes approximately 4.5 years remaining in the primary term, with two five-year renewal options. The arrangement is described as providing zero landlord responsibility.
This offering is presented as a specialty retail/drug store asset with the existing leasehold in place through Dollar General under the absolute NNN terms.
The lease includes approximately 4.5 years remaining in the primary term, with two five-year renewal options. The arrangement is described as providing zero landlord responsibility.
This offering is presented as a specialty retail/drug store asset with the existing leasehold in place through Dollar General under the absolute NNN terms.
Key Highlights
- CVS Pharmacy at 1400 Roosevelt Rd., Wheaton, IL 60187
- Property built in 2005
- Subleased to Dollar General (NYSE: DG) under an absolute NNN lease
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$181,395
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,627,900
$3.6M
Cap Rate 7%
$2,591,357
$2.6M
Cap Rate 9%
$2,015,500
$2.0M
Market Conditions
NOI Build-Up for 10,836 SF
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.
Gross rent
$260.1K $24.00/SF
− Vacancy
−$18.2K −$1.68/SF
EGI
$241.9K $22.32/SF
− OpEx
−$60.5K −$5.58/SF
NOI
$181.4K $16.74/SF
Area
DuPage County, IL
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,627,900
Cap Rate 7%
$2,591,357
Cap Rate 9%
$2,015,500
Alternative Uses
Best Use
Specialty Retail
$2.59M
$2.27M – $3.02M
NOI $181,395 @ 7.0% cap · market cap 6.15%
Second Best
Retail
$2.15M
$1.88M – $2.51M
NOI $150,405 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$3.74M
$3.27M – $4.36M
NOI $261,882 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
126k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 37%
Beauty & Spa 5%
Casey's
Shops & Services
26,768 visits/mo
0.3 miles
BP
Shops & Services
22,569 visits/mo
0.5 miles
Culver's
Dining
18,365 visits/mo
0.4 miles
Dunkin' Donuts
Dining
12,306 visits/mo
0.4 miles
Wendy's
Dining
11,712 visits/mo
0.4 miles
Demographics for 60187, IL
30,059
Population
10,619
Households
2.8
Avg Household Size
37
Median Age
62%
College-Educated
95%
High-School Grad
6.6 sq mi
ZIP Area
4,554
Density / Sq Mi
$119,048
Median Household Income
$49,625
Median Earnings
$1,744
Median Rent
$432,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- CVS — 1400 E Roosevelt Rd, Wheaton, IL 60187
- Jeanine Campa — 1400 E Roosevelt Rd, Wheaton, IL 601876804
- Walgreens Pharmacy — 324 Roosevelt Rd, Glen Ellyn, IL 60137
- COVID-19 Drive-Thru Testing at Walgreens — 324 Roosevelt Rd, Glen Ellyn, IL 60137
Frequently Asked Questions
What type of property is this?
Drug store - CVS Pharmacy is offered for sale with an absolute NNN lease subleased to Dollar General.
Where is this drug store located?
The property is located at 1400 E Roosevelt Rd Wheaton, IL.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: CVS Pharmacy at 1400 Roosevelt Rd., Wheaton, IL 60187; Property built in 2005; Subleased to Dollar General (NYSE: DG) under an absolute NNN lease
