Walgreens NNN Lease For
1531 S Madison Rd, Beloit, WI 53511
For Sale
Contact for pricing
Walgreens NNN lease extended through 2038 in Beloit, Wisconsin.
Property Size14,405 SF
Lot Size1.91 Acres
Price / SF$185.57
Days on Market258
Property Features for 1531 S Madison Rd
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Occupancy
Lease Type
Investment Type
Net Operating Income
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
CBRE - Atlanta
Listed By:
Brian Pfohl · License GA #349355
(404) 504-7893
Source:
Crexi
Added: Feb 25
Changed: Nov 1
Last Checked: Nov 8 at 6:51AM
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
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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 / Yr
$227,294
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Balanced
Demand for This Use
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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
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Market
Vacancy Rate% for Retail in Midwest region
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.
