Building Details

Building Size 13,905 SF

Year Built 1999

Listing Agency: Encore Real Estate Investment Services

Listed By: Matt Weber · License #6501365625 Show Phone

Source: Commercialcafe

Added: Oct 14 Changed: Oct 15 Last Checked: Oct 16 at 6:14AM

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Investment Insights

Based on property information with market context.

This drug store property at 18133 Torrence Ave in Lansing, Illinois, was built in 1999. The listing identifies it as a retail property; no building layout or other physical features are specified.

Lansing is served regionally by I-80/94 and I-394 and is part of the Chicago metropolitan area.

Key Highlights

• Built in 1999
• Located at 18133 Torrence Ave, Lansing, IL 60438
• Lansing is served regionally by I‑80/94 and I‑394

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$232,770

Cap Rate

5.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,655,400 $4.7M

Cap Rate 7%

$3,325,286 $3.3M

Cap Rate 9%

$2,586,333 $2.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,905 SF

Gross rent

$333.7K $24.00/SF

− Vacancy

−$23.4K −$1.68/SF

EGI

$310.4K $22.32/SF

− OpEx

−$77.6K −$5.58/SF

NOI

$232.8K $16.74/SF

Area

Cook 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 Rate 5%

$4,655,400

Cap Rate 7%

$3,325,286

Cap Rate 9%

$2,586,333

Alternative Uses

Best Use

Specialty Retail

$3.33M

$2.91M – $3.88M (±1% cap)

NOI $232,770 @ 7.0% cap · market cap 5.74%

Second Best

Retail

$2.76M

$2.41M – $3.22M (±1% cap)

NOI $193,004 @ 7.0% cap · market cap 4.76%

Theoretical Best

Office A

$4.80M

$4.20M – $5.60M (±1% cap)

NOI $336,053 @ 7.0% cap · market cap 8.28%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Jennifer K. Powe, ... Pharmacy Angela R. Turman, ... Pharmacy Walgreens Photo (Bike/Boat/Book/etc) Store COVID-19 Drive-Thru Testing ... Pharmacy Coinhub Bitcoin ATM ... Atm

Suggested Use

Top Pick Real Estate Agency Law Firm Spa & Massage Center Restaurant Hair Salon Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

502

Businesses Nearby

135k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 70% Shops & Services 30%

McDonald's Dining

34,668 visits/mo 0.4 miles

Dollar Tree Shops & Services

20,926 visits/mo 0.1 miles

Starbucks Dining

16,328 visits/mo 0.2 miles

Popeyes Louisiana Kitchen Dining

15,371 visits/mo 0.1 miles

Chipotle Mexican Grill Dining

10,622 visits/mo 0.2 miles

Demographics for 60438, IL

29,661

Population

12,230

Households

2.4

Avg Household Size

40

Median Age

28%

College-Educated

93%

High-School Grad

8.1 sq mi

ZIP Area

3,662

Density / Sq Mi

$72,043

Median Household Income

$44,632

Median Earnings

$1,271

Median Rent

$168,600

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

• Jennifer K. Powe, Pharm — 18133 Torrence Ave, Lansing, IL 60438
• COVID-19 Drive-Thru Testing at Walgreens — 18133 Torrence Ave, Lansing, IL 60438
• Walgreens Pharmacy — 18133 Torrence Ave, Lansing, IL 60438
• Michael Caffarini, RPH — 18133 Torrence Ave, Lansing, IL 60438
• Robin Brown — 18133 Torrence Ave, Lansing, IL 604382157

Frequently Asked Questions

What type of property is this?

Drug store - Built in 1999, the retail asset is located on Torrence Avenue in Lansing.

Where is this drug store located?

The property is located at 18133 Torrence Ave Lansing, IL.

What is the asking price?

The asking price for this property is $4,056,988.

What are key features of this property?

This property features: Built in 1999; Located at 18133 Torrence Ave, Lansing, IL 60438; Lansing is served regionally by I‑80/94 and I‑394