4814 Sheridan Rd Peoria, IL 61614-5928

Property Details for 4814 Sheridan Rd

Lot size

1.56 lot acres

Property type

Commercial real estate

APN

14-21-301-001

APU

1421301001

Description

This exceptional investment opportunity presents a fee-simple, 15,120 square-foot Walgreens located at 4814 N Sheridan Rd, Peoria, IL 61614. The property sits on a 1.57-acre lot and boasts a strong absolute NNN lease with a corporate guarantee, eliminating landlord responsibilities. The lease, expiring January 31, 2027, has a remaining term of approximately 2.2 years and includes percentage rent bumps and ten 5-year lease options. The property features a high occupancy rate of 100% and generates a substantial net operating income (NOI) of $452,630, resulting in an attractive 8.00% cap rate. The asking price is $5,657,876, translating to $374.20 per square foot. Built in 2000, this single-story building enjoys a prime location on a signalized intersection with high visibility to over 28,000 vehicles daily. The property benefits from excellent access to major roadways, including State Routes 150 and 40, providing easy access to Interstate 74 and downtown Peoria (approximately 4 miles away). The surrounding area boasts a high population density (over 68,500 residents within 3 miles) and strong average household income (over $90,900 within 1 mile). The Walgreens is strategically positioned near major employers, including Caterpillar Inc., UnityPoint Health (Peoria and Methodist Hospitals), and OSF St. Francis Medical Center, and is also close to numerous shopping centers and the Northwoods Mall, further enhancing its desirability and potential for continued success. This is a rare opportunity to acquire a stable, high-performing retail investment with a nationally recognized tenant.

Location Insight

City

Peoria

County

Peoria

State

Illinois

Longitude

-89.6024

Latitude

40.7462

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments