Single-Tenant Walgreens
For Sale
Contact for pricing
2404 S Perryville Rd, Rockford, IL 61108
Single-tenant Walgreens asset offered for sale under an absolute net lease structure.
Property Size14,490 SF
Price / SF$393.37
Days on Market213
Property Features for 2404 S Perryville Rd
General Information
Standard status
Active
Size
14,490 SF
Class
A
Property subtype
Retail
Zoning
CC
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$414,130
Building Details
Year Built
2008
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Bryant Commercial Group
Listed By:
Nathan Bryant · License #IL 471.013468
(815) 218-1371
Source:
Crexi
Added: Mar 31
Changed: Oct 25
Last Checked: Oct 28 at 7:36AM
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 Bryant Commercial Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This offering presents a single-tenant Walgreens retail asset leased under an absolute net lease structure. Under the NNN arrangement, the tenant is responsible for operating expenses, including taxes, insurance, and maintenance, which keeps landlord responsibilities limited.
The property is located at 2404 S Perryville Rd in Rockford, Illinois, positioned along an established commercial corridor.
This is a straightforward acquisition opportunity for investors seeking a Walgreens lease with tenant-paid operating expenses.
The property is located at 2404 S Perryville Rd in Rockford, Illinois, positioned along an established commercial corridor.
This is a straightforward acquisition opportunity for investors seeking a Walgreens lease with tenant-paid operating expenses.
Key Highlights
- Single‑tenant Walgreens asset built in 2008
- Leased to Walgreens under an absolute net lease structure
- Tenant responsible for operating expenses including taxes, insurance, and maintenance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$202,396
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,047,920
$4.0M
Cap Rate 7%
$2,891,371
$2.9M
Cap Rate 9%
$2,248,844
$2.2M
Market Conditions
NOI Build-Up for 14,490 SF
Gross rent
$278.2K $19.20/SF
− Vacancy
−$8.3K −$0.58/SF
EGI
$269.9K $18.62/SF
− OpEx
−$67.5K −$4.66/SF
NOI
$202.4K $13.97/SF
Area
Rockford, IL
Vacancy
3.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,047,920
Cap Rate 7%
$2,891,371
Cap Rate 9%
$2,248,844
Alternative Uses
Best Use
Specialty Retail
$2.89M
$2.53M – $3.37M
NOI $202,396 @ 7.0% cap · market cap 3.55%
Second Best
Retail
$2.52M
$2.20M – $2.94M
NOI $176,184 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$3.85M
$3.37M – $4.50M
NOI $269,792 @ 7.0% cap · market cap 4.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
235k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 31%
Home Improvements & Furnishings 27%
Dining 17%
Groceries 14%
Menards
Home Improvements & Furnishings
63,494 visits/mo
0.3 miles
Macy's
Apparel
36,473 visits/mo
0.2 miles
Schnucks
Groceries
32,724 visits/mo
0.1 miles
JCPenney
Apparel
26,425 visits/mo
0.3 miles
Circle K
Shops & Services
20,352 visits/mo
0.1 miles
Demographics for 61108, IL
29,660
Population
12,650
Households
2.3
Avg Household Size
39
Median Age
24%
College-Educated
87%
High-School Grad
10.9 sq mi
ZIP Area
2,721
Density / Sq Mi
$63,046
Median Household Income
$34,856
Median Earnings
$986
Median Rent
$128,300
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
Similar Off Market Nearby
- Walgreens Pharmacy — 2404 S Perryville Rd, Rockford, IL 61108
- Gary Peterson — 2404 S Perryville Rd, Rockford, IL 611088231
- Rebecca Bogacki — 2404 S Perryville Rd, Rockford, IL 611088231
- COVID-19 Drive-Thru Testing at Walgreens — 2404 S Perryville Rd, Rockford, IL 61108
- Andrew Davis — 2404 S Perryville Rd, Rockford, IL 611088231
Frequently Asked Questions
What type of property is this?
Drug store - Single-tenant Walgreens asset offered for sale under an absolute net lease structure.
Where is this drug store located?
The property is located at 2404 S Perryville Rd Rockford, IL.
What is the asking price?
The asking price for this property is $5,700,000.
What are key features of this property?
This property features: Single‑tenant Walgreens asset built in 2008; Leased to Walgreens under an absolute net lease structure; Tenant responsible for operating expenses including taxes, insurance, and maintenance
