Single-Tenant Walgreens
2404 S Perryville Rd Rockford, IL 61108
2404 S Perryville Rd, Rockford, IL, 61108
Contact for pricing
For Sale
Contact for pricing
Single-tenant Walgreens asset offered for sale under an absolute net lease structure.
Property Size14,490 SF
Price / SF$393.37
Days on Market114
Property Features for 2404 S Perryville Rd
General Information
- Standard status
- Active
- Size
- 14,490 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2008
Listing agency
Bryant Commercial Group
(815) 218-1371
Listed by
Nathan Bryant · License #IL 471.013468
Source
Crexi
Added: Mar 31 Updated: Jul 21 at 12:49AM Checked: Jul 21 at 9:18AM
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
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
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $278.2k | $19.20 |
| − Vacancy | −$8.3k | −$0.58 |
| EGI | $269.9k | $18.62 |
| − OpEx | −$67.5k | −$4.66 |
| NOI | $202.4k | $13.97 |
14,490 SF · lease $19.20/SF/yr · vacancy 3.00% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Walgreens Photo
(Bike/Boat/Book/etc) Store
LibertyX Bitcoin ATM
Atm
Redbox
Cinema
Walgreens
Pharmacy
FedEx OnSite
Postal Service
Similar For Sale Nearby
Similar Off Market Nearby
- Walgreens Pharmacy — 2404 S Perryville Rd, Rockford, IL 61108
- COVID-19 Drive-Thru Testing at Walgreens — 2404 S Perryville Rd, Rockford, IL 61108
- Gary Peterson — 2404 S Perryville Rd, Rockford, IL 611088231
- Andrew Davis — 2404 S Perryville Rd, Rockford, IL 611088231
- Rebecca Bogacki — 2404 S Perryville Rd, Rockford, IL 611088231
FAQs
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
