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602 Woodlawn Rd Lincoln, IL 62656

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High-Occupancy Retail Strip in IL

Property size:
5,800 SF

Property Features for 602 Woodlawn Rd

General Information

Property type
Drug stores
Square Feet
5,800 SF
Lot Size
40,075 SF

Building Details

Year Built
2024
Buildings
1
Units
1

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Listing Contact
Nathan D. Whalen
Nathan D. Whalen

Listing Agency: Marcus & Millichap | Indianapolis Listing Agent: Nathan D. Whalen

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional investment opportunity presents a 5,800 square foot, two-tenant retail building in Lincoln, Illinois, boasting 100% occupancy. Built in 2024 and situated on a 0.92-acre lot at 602 Woodlawn Rd, 62656, this property offers excellent visibility and accessibility with over 11,500 vehicles passing daily. Anchored by Central Illinois Urgent Care (3,800 sq ft) and OSF Healthcare (2,000 sq ft), the property benefits from a strong tenant mix and minimal lease rollover risk until 2029. The lease structure includes rare 3% annual rent increases in renewal options for both tenants, promising significant future rent growth. While one tenant operates under a triple net lease, the other offers potential upside for conversion to a NNN lease, maximizing future returns. The property's strategic location near CVS, Walgreens, Walmart, and Lincoln Memorial Hospital ensures high traffic and strong tenant demand. The asking price is $1,575,000, representing a compelling 7.15% cap rate. This is a turnkey investment with exceptional stability and growth potential. The property is a single-unit building with a multi-tenant occupancy.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

OSF Medical Group ... Physician Central Illinois Urgent ... Medical Clinic

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Lincoln
County
Logan
State
Illinois
Longitude
-89.3754639
Latitude
40.15797

FAQs

What type of property is this?
Drug store - High-Occupancy Retail Strip in IL
Where is this drug store located?
The property is located at 602 Woodlawn Rd Lincoln, IL.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: 5,800 square foot, two-tenant retail building in Lincoln, IL, 100% occupied.; Anchored by Central Illinois Urgent Care and OSF Healthcare, with no lease rollover until 2029.; Features rare 3% annual rent increases in renewal options for both tenants.
(317) 218-5329 Call to check price and availability
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