1311 Il-48 Decatur, IL 62526
- Retail properties
- 12,918 SF
- 1.90 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1311 Il-48
- Year built
- 2002
- Lot size
- 1.90 lot acres
- Property size
- 12,918 SF
- Property type
- Retail properties
- Property subtype
- Drug stores
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Decatur
- County
- Macon
- State
- Illinois
- Longitude
- -88.9743
- Latitude
- 39.8553
