835 Galena Ave Freeport, IL 61032

This fee-simple retail investment opportunity presents a 12,032 square foot Walgreens pharmacy located at 835 W Galena Ave, Freeport, IL 61032. The property sits on a 0.98-acre lot and boasts a 7.00% cap rate with a Net Operating Income (NOI) of $114,545. The current lease, a corporate-guaranteed Net Lease (NN) agreement with Bond Drug Company of Illinois, LLC, has approximately two years remaining until its expiration date of November 30, 2026, with five additional five-year option periods. The tenant has a long operating history at this location, exceeding 20 years, demonstrating a significant commitment to the site. The property features ample parking (4.99 spaces per 1,000 sq ft) and is situated in a high-traffic area at the signalized intersection of W. Galena Avenue and State Highway 26, averaging 32,300 vehicles daily. Its strategic location within a dense retail corridor, near Lincoln Mall (185,000 sq ft), and proximity to FHN Memorial Hospital (100 beds) and numerous residential communities, ensures a strong consumer base. The 5-mile trade area encompasses over 28,300 residents and 17,500 daytime employees, with an average annual household income of $57,607. Built in 1991, this property is zoned for commercial use and offers a low-management investment opportunity due to the limited landlord responsibilities inherent in the NN lease structure. The asking price is $1,636,000, translating to a price per square foot of $135.97. This is a prime investment opportunity with a strong tenant and favorable lease terms.