Walgreens NNN
New
For Sale
$4,320,000
1713 West Springfield Ave, Champaign, IL 61820
An absolute NNN lease includes rent increases every five years during the initial term and option periods.
Property Size15,040 SF
Days on Market3
Property Features for 1713 West Springfield Ave
General Information
Standard status
Active
Size
15,040 SF
Property subtype
Retail
Net Operating Income
$317,520
Site & Location
Corner Location
Yes
Traffic Count
35,000 vehicles/day
Building Details
Building Size
15,040 SF
Year Built
1998
Listing Agency:
Faris Lee Investments
Listed By:
Nick Miller · License #CalDRE #02059453
(562) 756-7490
Source:
Farislee
Added: Oct 11
Last Checked: Oct 12 at 5:32PM
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 Faris Lee Investments
Investment Insights
Based on property information with market context.
Built in 1998, this Walgreens property is offered with fee simple ownership and an absolute NNN lease. Rent increases are scheduled every five years during the initial lease term and option periods. The reported rent-to-sales ratio is 1.18%, and the store is described as ranking in the top 8% of Walgreens locations by sales.
The property is at 1713 West Springfield Ave in Champaign, approximately 2 miles from the University of Illinois, which has 60,000 students. The hard-corner location is reported to see 35,000 vehicles per day.
The property is at 1713 West Springfield Ave in Champaign, approximately 2 miles from the University of Illinois, which has 60,000 students. The hard-corner location is reported to see 35,000 vehicles per day.
Key Highlights
- Absolute NNN lease with five‑year rent increases during the initial term and option periods
- Fee simple ownership
- Reported rent‑to‑sales ratio of 1.18%
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$169,947
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,398,940
$3.4M
Cap Rate 7%
$2,427,814
$2.4M
Cap Rate 9%
$1,888,300
$1.9M
Market Conditions
NOI Build-Up for 15,040 SF
Gross rent
$240.0K $15.96/SF
− Vacancy
−$13.4K −$0.89/SF
EGI
$226.6K $15.07/SF
− OpEx
−$56.6K −$3.77/SF
NOI
$169.9K $11.30/SF
Area
Champaign County, IL
Vacancy
5.60%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,398,940
Cap Rate 7%
$2,427,814
Cap Rate 9%
$1,888,300
Alternative Uses
Best Use
Specialty Retail
$2.43M
$2.12M – $2.83M
NOI $169,947 @ 7.0% cap · market cap 3.93%
Second Best
Retail
$1.82M
$1.59M – $2.12M
NOI $127,157 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$3.13M
$2.74M – $3.65M
NOI $219,031 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
35,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
825
Businesses Nearby
Explore this area
Business Placement
Demographics for 61820, IL
40,822
Population
18,672
Households
2.2
Avg Household Size
25
Median Age
55%
College-Educated
93%
High-School Grad
5.9 sq mi
ZIP Area
6,919
Density / Sq Mi
$31,031
Median Household Income
$14,828
Median Earnings
$1,077
Median Rent
$175,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
NNN property - An absolute NNN lease includes rent increases every five years during the initial term and option periods.
Where is this nnn property located?
The property is located at 1713 West Springfield Ave Champaign, IL.
What is the asking price?
The asking price for this property is $4,320,000.
What are key features of this property?
This property features: Absolute NNN lease with five‑year rent increases during the initial term and option periods; Fee simple ownership; Reported rent‑to‑sales ratio of 1.18%
