625 Pershing Rd, Decatur, IL 62526-1632

Property Details for 625 Pershing Rd

Lot size

1.57 lot acres

Zone code

MUNICIPAL

Property type

Drug stores

APN

04-12-03-126-013

APU

41203126013

Description

This exceptional investment opportunity presents a 14,820-square-foot Walgreens pharmacy located at 625 W Pershing Rd, Decatur, IL 62526. The property sits on a 1.6-acre lot and boasts a strong operating history since its construction in 2006. The absolute NNN lease with Walgreens, the nation's second-largest pharmacy chain, extends until March 31, 2031, with ten 5-year renewal options. The property generates a substantial net operating income (NOI) of $353,000, resulting in an attractive 8.25% cap rate. The building benefits from its high-traffic location, just off the intersection of West Pershing Road (18,300 vehicles per day) and North Monroe Street (10,700 vehicles per day), with proximity to Interstate 72 (14,300 vehicles per day). This prime location is surrounded by a variety of well-established retailers, including Kroger, ALDI, and several automotive dealerships. The area also features significant employment centers such as the Decatur Caterpillar plant (5,000 employees) and the Decatur Rail Yard. A strong demographic profile supports the investment, with over 69,800 people residing within a five-mile radius, boasting an average household income of $74,856. This is a rare opportunity to acquire a stable, high-performing net-leased property anchored by a creditworthy tenant with a long-term commitment. The asking price is $4,280,000.

Location Insight

City

Decatur

County

Macon

State

Illinois

Longitude

-88.9651

Latitude

39.8747

CBSA code

19500

CBSA name

DECATUR, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments