Walgreens Anchored Retail
For Sale
Contact for pricing
806 S 4th St, Clinton, IA 52732
Strategic corner location with rent escalation and redevelopment potential.
Property Size13,799 SF
Lot Size2.06 Acres
Price / SF$199.29
Days on Market168
Property Features for 806 S 4th St
General Information
Standard status
Active
Size
13,799 SF
Lot size
2.06 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Building Details
Tenancy
Single
Listing Agency:
Coldwell Banker Commercial Howes & Jefferies
Listed By:
Matthew Brisch · License #IA
Source:
Crexi
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 8 at 6:38AM
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 Coldwell Banker Commercial Howes & Jefferies
Investment Insights
Based on property information with market context.
This property offers an opportunity to acquire a Walgreens-anchored asset on a 2.06-acre corner lot. Situated at the junction of US Highway 30 and US Highway 67, it serves as a primary retail entrance to Iowa for traffic from Illinois. The property is shadow-anchored by Hy-Vee Supermarket and Hy-Vee Fast & Fresh. The site exceeds standard pharmacy lot sizes, providing long-term flexibility for multi-tenant conversion, QSR outparcels, or higher-density redevelopment. The lease features five-year renewal options with a 30% rent escalation at the next option. Clinton serves as a primary retail destination for Western Illinois residents, with a concentration of national tenants, including Home Depot, Walmart Supercenter, Hobby Lobby, Aldi, and Harbor Freight. The corporate-backed Double Net (NN) lease expires May 31, 2034, with approximately 8 years of guaranteed term prior to the next option with rent escalation. The 13,799 SF facility is equipped with a drive-thru and benefits from visibility to south-bound US-67 and west-bound US-30 traffic. Located 1.5 miles from the Clinton Marina, it services a stable local population and seasonal regional tourism.
Key Highlights
- Strategic location at the junction of US‑30 and US‑67 with high traffic volume.
- Corporate‑backed Double Net (NN) lease with approximately 8 years of guaranteed term expiring May 31, 2034.
- Significant rent growth with a 30% rent escalation at the next five‑year renewal option.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$142,043
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,840,860
$2.8M
Cap Rate 7%
$2,029,186
$2.0M
Cap Rate 9%
$1,578,256
$1.6M
Market Conditions
NOI Build-Up for 13,799 SF
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.
Gross rent
$207.0K $15.00/SF
− Vacancy
−$17.6K −$1.28/SF
EGI
$189.4K $13.73/SF
− OpEx
−$47.3K −$3.43/SF
NOI
$142.0K $10.29/SF
Area
Clinton County, IA
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,840,860
Cap Rate 7%
$2,029,186
Cap Rate 9%
$1,578,256
Alternative Uses
Best Use
Specialty Retail
$2.03M
$1.78M – $2.37M
NOI $142,043 @ 7.0% cap · market cap 5.17%
Second Best
Retail
$1.96M
$1.71M – $2.28M
NOI $136,906 @ 7.0% cap · market cap 4.98%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 52732, IA
25,808
Population
12,911
Households
2
Avg Household Size
42
Median Age
21%
College-Educated
90%
High-School Grad
109.6 sq mi
ZIP Area
235
Density / Sq Mi
$58,380
Median Household Income
$37,181
Median Earnings
$768
Median Rent
$118,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- CBD for Life — 1106 Camanche Ave, Clinton, IA 52732
- Walgreens Pharmacy — 806 S 4th St, Clinton, IA 52732
- Riverview Chiropractic Center P.C — 822 S 4th St, Clinton, IA 52732
- COVID-19 Drive-Thru Testing at Walgreens — 806 S 4th St, Clinton, IA 52732
- Lam Vo — 806 S 4th St, Clinton, IA 527325729
Frequently Asked Questions
What type of property is this?
Drug store - Strategic corner location with rent escalation and redevelopment potential.
Where is this drug store located?
The property is located at 806 S 4th St Clinton, IA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Strategic location at the junction of US‑30 and US‑67 with high traffic volume.; Corporate‑backed Double Net (NN) lease with approximately 8 years of guaranteed term expiring May 31, 2034.; Significant rent growth with a 30% rent escalation at the next five‑year renewal option.
