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2140 Peoria Rd
Springfield, IL 62702

$1,823,529 USD

Drugstore For Sale  •  13,450 SF

Property Details

• Property Type Drugstore
• Total Building Size 13,450 SF
• Lot Size 1.43 AC
• Building Class B
• Year Built 1994
• Cap Rate 8.50 %
• Tenancy Single

30 Transit Score

50 Walk Score

Highlights

Low Rent Compared to Walgreens Store Fleet – Walgreens typically pays between $280,000 and $320,000 in annual rent at comparable locations

Established 30-Year Operating History – Walgreens has operated successfully at this location since 1994, demonstrating more than three decades

Rare 21.2% Rent Increase Opportunity – At the end of the current lease term, and upon another waived termination option

Strong Downside Protection – Comparable Walgreens properties with similar building and lot sizes are commonly valued between $3 million and $6 million

State Capital Economic Anchor – Located in Springfield, Illinois, the state capital, the property benefits from a stable, government-driven economy

Essential National Tenant – Walgreens remains one of the nation’s most important retailers, operating approximately 8,000 locations, employing 211,000

Cap Rate:

8.50 %

Major Tenants

Tenant	SF Occupied	Lease End Date
Walgreens		2/11/2030

Amenities

• Pylon Sign
• Signalized Intersection
• Drive Thru

Public Transportation

Commuter Rail	Drive	Walk	Distance
Springfield (Lincoln Service - Amtrak, Lincoln Service Missouri River Runner - Amtrak, Texas Eagle - Amtrak)	7 min	-	2.4 mi
Airport	Drive	Walk	Distance
Abraham Lincoln Capital	6 min	-	2.7 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	70
Type:	Surface
Included in Rent:	Yes