Walgreens NNN Lease For
For Sale
Contact for pricing
1531 S Madison Rd, Beloit, WI 53511
Walgreens NNN lease extended through 2038 in Beloit, Wisconsin.
Property Size14,405 SF
Lot Size1.91 Acres
Price / SF$185.57
Days on Market167
Property Features for 1531 S Madison Rd
General Information
Standard status
Active
Size
14,405 SF
Total Parking Spaces
72
Lot size
1.91 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$220,534
Building Details
Year Built
2008
Buildings
1
Tenancy
Single
Listing Agency:
CBRE - Atlanta
(608) 663-5445
Listed By:
Brian Pfohl · License #GA 349355
Source:
Crexi
Added: Feb 25
Changed: Aug 7
Last Checked: Aug 10 at 9:41AM
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 CBRE - Atlanta
Investment Insights
Based on property information with market context.
This offering features a 14,405-square-foot Walgreens situated on 1.91 acres in Beloit, Wisconsin, which is part of the Janesville-Beloit, WI MSA with a population of 164,616. The absolute NNN lease with Walgreens, originally set to expire in 2034, has been extended through 2038 and now has approximately 12.4 years of primary term remaining, along with eleven 5-year options to renew.
Key Highlights
- Absolute NNN lease extended through 2038 offers a long‑term, low‑management investment.
- Boasting ±12.4 years of primary lease term remaining.
- Eleven, 5‑year options to renew for potential extended income.
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
$227,294
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
8.50%
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%
$4,545,880
$4.5M
Cap Rate 7%
$3,247,057
$3.2M
Cap Rate 9%
$2,525,489
$2.5M
Market Conditions
NOI Build-Up for 14,405 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
$311.1K $21.60/SF
− Vacancy
−$8.1K −$0.56/SF
EGI
$303.1K $21.04/SF
− OpEx
−$75.8K −$5.26/SF
NOI
$227.3K $15.78/SF
Area
Rock County, WI
Vacancy
2.60%
Lease Rate
$21.60 /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%
$4,545,880
Cap Rate 7%
$3,247,057
Cap Rate 9%
$2,525,489
Alternative Uses
Best Use
Specialty Retail
$3.25M
$2.84M – $3.79M
NOI $227,294 @ 7.0% cap · market cap 8.50%
Second Best
Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$3.46M
$3.03M – $4.04M
NOI $242,315 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53511, WI
48,659
Population
19,372
Households
2.5
Avg Household Size
38
Median Age
19%
College-Educated
89%
High-School Grad
114.9 sq mi
ZIP Area
423
Density / Sq Mi
$65,305
Median Household Income
$39,344
Median Earnings
$995
Median Rent
$160,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Walgreens Pharmacy — 1531 S Madison Rd, Beloit, WI 53511
- COVID-19 Drive-Thru Testing at Walgreens — 1531 S Madison Rd, Beloit, WI 53511
- Martin Densch — 1531 S Madison Rd, Beloit, WI 535113267
- Andrew Wiegel — 1531 S Madison Rd, Beloit, WI 535113267
Frequently Asked Questions
What type of property is this?
Drug store - Walgreens NNN lease extended through 2038 in Beloit, Wisconsin.
Where is this drug store located?
The property is located at 1531 S Madison Rd Beloit, WI.
What is the asking price?
The asking price for this property is $2,673,140.
What are key features of this property?
This property features: Absolute NNN lease extended through 2038 offers a long‑term, low‑management investment.; Boasting ±12.4 years of primary lease term remaining.; Eleven, 5‑year options to renew for potential extended income.
