Walgreens | 10 Year NNN LEASE | STRONG SALES

Walgreens | 10 Year NNN LEASE | STRONG SALES

2532 N. Illinois Street
Swansea (St. Louis MSA), IL

Price: $3,200,000
Cap: 7.00%
NOI: $223,992
Building Size: 13,905 SF
Lot Size: 1.87 AC

Investment Highlights

LOWER RENT & PRICE POINT WALGREENS
• This Walgreens has a lower rent of $223,992 per year which equates to a lower price point compared to most Walgreens Locations.
 
NEXT TO WELLNOW URGENT CARE & ACROSS FROM MULTIPLE MEDICAL PRACTICES
• The subject property is adjacent to a WellNow Urgent Care and is directly across the street from three Medical Practices. • Memorial Hospital-Metro East, a 207K SF hospital, is located 1.8 miles away and has 2,154 employees.
• Memorial Hospital Belleville, a 85,000 SF hospital, is located 2.5 miles away and has 2,300 employees.
5 MILE POPULATION: 113,457
• This Walgreens is located in a dense residential infill with 113,457 people in a 5 mile radius.
 
SIGNALIZED INTERSECTION (18,350 VPD)
• This Walgreens has two entrances and is located at the signalized intersection of Hwy 159 and E Fullerton Rd with a combined 18,350 VPD.
• Hwy 161 (20,500 VPD) is less than 1 mile away and I-40 (78,800 VPD) is 4 miles away.
 
ST. LOUIS SUBURB | LARGEST MSA POPULATION IN MISSOURI
• Downtown St. Louis is 15 minutes away from this store.
• St. Louis is the second largest city in Missouri with a bi state metropolitan area population of over 2.8 million. It is the largest metropolitan area in Missouri and the second largest in Illinois.
• A global city with a metropolitan GDP of more than $160 billion in 2017, metropolitan St. Louis has a diverse economy with strengths in the service, manufacturing, trade, transportation, and tourism industries.
• It is home to 8 fortune 500 companies including Wells Fargo Advisors, Ameren Corporation, Peabody Energy and more.
 
10.5 YEAR CORPORATE LEASE | 27 YEAR OPERATING HISTORY
• This is a 13,833 SF Walgreens with a drive thru that has been operating at this location since 1997
• The subject property has a corporate guaranteed NN Lease with Walgreens that commenced in June 1997 and expires in June 2034
• The tenant has the option to terminate the lease every 5 years beginning on June 30, 2034 with 12 months’ notice to the Landlord.
• The Tenant is responsible for Parking Lot HVAC, Insurance & Taxes.
• The Landlord is responsible for roof & structure.
 
WALGREENS OPERATES 9,000+ LOCATIONS IN ALL 50 STATES
• Walgreens has over 9,000 retail pharmacies across the US with 78% of the US population living with 5 miles of a Walgreens.
• Employs more than 85,000 healthcare service providers, including pharmacy technicians, nurse practitioners and other health professionals.
• In 2021, Walgreens Co. purchased the majority of VillageMD and in the beginning of 2023 VillageMD closed on its acquisition of Summit Health.
• This acquisition creates one of the largest independent provider groups in the country operating more than 680 provider locations in 26 markets with 20,000 employees.
• Walgreens Co. plans to open 600 more VillageMD locations at existing Walgreens in more than 30 markets by 2025 and 1,000 by 2027.
Don McMinn
OFFERING MEMORANDUM

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