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    1311 Il-48 Decatur, IL 62526

    Sponsored
    For Sale
    $3,638,873

    High-yield Walgreens NNN lease, Decatur, IL

    Property size:
    12,918 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a fee-simple, 12,918 square-foot Walgreens pharmacy located at 1311 IL-48, Decatur, Illinois. The property sits on a 1.9-acre lot and boasts a strong 7.10% cap rate, generating a substantial Net Operating Income (NOI) of $258,360. Secured by a long-term NNN lease with Walgreens, expiring August 31, 2035, this investment offers 11 years of remaining lease term with twelve 5-year renewal options. The lease includes rent increases every five years, ensuring consistent cash flow growth. The property benefits from a prime location near Decatur Memorial Hospital, serving a dense population exceeding 74,000 within a 5-mile radius, with an average household income exceeding $82,000. Built in 2002, this single-tenant property offers a hands-off investment opportunity with minimal landlord responsibilities, making it an attractive option for passive income seekers. The Walgreens location features a drive-thru pharmacy, enhancing customer convenience and contributing to its strong performance, which surpasses the national average. The asking price is $3,638,873. This is a rare chance to acquire a high-performing, low-maintenance retail asset with significant long-term potential.

    Property Features for 1311 Il-48

    General Information

    Property type
    Individual retail properties
    Square Feet
    12,918 SF
    Lot Size
    82,764 SF

    Building Details

    Year Built
    2002

    HighLights

    • Strong Walgreens performance exceeding national averages.
    • 13‑year NNN lease; no landlord responsibilities.
    • 5% rent increases every five years.
    • Proximity to Decatur Memorial Hospital, serving a large population.
    • Dense population exceeding 74,000 within a 5‑mile radius.
    • Average household income exceeding $82,730 within a 5‑mile radius.
    Property Profile Location Intelligence

    Current Use by Public Records

    Drug stores

    Map

    City
    Decatur
    County
    Macon
    State
    Illinois
    Longitude
    -88.974308026855
    Latitude
    39.855287237064

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    FAQs

    What type of property is this?
    Individual retail property - High-yield Walgreens NNN lease, Decatur, IL
    Where is this individual retail property located?
    The property is located at 1311 Il-48 Decatur, IL.
    What is the asking price?
    The asking price for this property is $3,638,873.
    What are key features of this property?
    This property features: Strong Walgreens performance exceeding national averages.; 13-year NNN lease; no landlord responsibilities.; 5% rent increases every five years.
    Request Owner's contact information
    1311 Il-48 Decatur, IL 62526
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    Decatur, IL 62526
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1311 Il-48 Decatur, IL 62526
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