2532 Illinois St, Swansea, IL 62226-2353
- Commercial real estate
- 13,836 SF
- 1.82 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 2532 Illinois St
- Year built
- 1997
- Construction
- STEEL FRAME
- Lot size
- 1.82 lot acres
- Property type
- Commercial real estate
- APN
- 08-15-0-100-020
- APU
- 8150100020
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Sep 30, 2022 | $3,350,000 | Ns Retail Holdings LLC | Koenig & Strey Centre Building No 1 | Special Warranty Deed | — |
| Dec 20, 2019 | — | Koenig & Strey Centre Bldg No | — | Deed · related | $2M · Prospect Bk |
| Dec 9, 1998 | $2,776,000 | Koenig LP | Swansea Acquisitions LLC | Grant Deed | $2.2M · General Electric Capital Corp |
| Dec 31, 1997 | $397,000 | Wags Swansea LLC | Magna Trust Co Trustee | Grant Deed | $1.9M · Nationsbank |
| — | — | Koenig No | — | Deed Of Trust · related | $2.4M · American Enterprise Bank |
| — | — | Koenig & Strey Centre Bldg No | — | Deed Of Trust · related | $2M · Prospect Bk |
| — | — | Koenig & Strey Centre Bldg No | — | Deed Of Trust · related | $105k · Edgar Cnty Bk&tr |
Description
This exceptional investment opportunity presents a freestanding Walgreens located at 2532 N Illinois St, Swansea, IL 62226. The 13,905 square foot property boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $223,992. The property benefits from a 100% occupancy rate with Walgreens, a highly reputable tenant, under a net lease with over 10.1 years remaining. The lease includes nine five-year renewal options, providing long-term stability and predictable cash flow. Built in 1997, this single-tenant retail property is strategically positioned along North Illinois Street and Fullerton Road, enjoying high visibility with over 33,200 vehicles passing daily. Its adjacency to Swansea Plaza, a shopping center attracting over 1.7 million annual visitors, further enhances its desirability. The surrounding area demonstrates strong demographics, with over 6,377 residents within a one-mile radius and average annual household incomes exceeding $109,570. Nearby businesses, including a high-performing McDonald's and Scooter's Coffee, contribute to the area's vibrancy. The property's location near High Mount School adds to its appeal. This investment offers a compelling opportunity for passive income generation, backed by a leading tenant in a prime market with excellent real estate fundamentals. The asking price is $3,200,000, translating to a price per square foot of $230.13. The Walgreens store reports strong sales of $2,234,000 (excluding prescription sales). This is a rare opportunity to acquire a stable, high-performing retail asset with significant long-term potential.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,555,000
- ML approach
- $2,315,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,335,000
- 6.5%
- $2,155,000
- 7%
- $2,000,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,602,000
- AI Estimate
- $1,666,000
Market price range: $570k - $1.76MMarket price range: $617k - $1.97M -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $2,770,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Swansea
- County
- St. Clair
- State
- Illinois
- Longitude
- -89.9828
- Latitude
- 38.5409
- CBSA code
- 41180
- CBSA name
- ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA
