Walgreens | Low Rent & Strong Sales

Walgreens | Low Rent & Strong Sales

3803 Auburn Street
Rockford, IL

Price: $1,964,000
Cap: 7.25%
NOI: $142,374
Building Size: 12,544 SF
Lot Size: 1.36 AC

Investment Highlights

LOWER RENT & PRICE POINT WALGREENS
• This Walgreens has a lower rent of $142,374 per year which equates to a lower price point of under $2M.
 
1 MILE FROM ROCKFORD MEMORIAL HOSPITAL (396 BEDS)
• This Walgreens is 1 mile from Rockford Memorial Hospital. This the main hospital in the city with 396 beds and 1,938 employees. • Located at the signalized intersection of Auburn St & N Central Ave with a combined 19,500 VPD.
• The property is also located directly next to an ALDI.
 
5 MILE POPULATION: 132,080
• Located in a dense residential infill with 132,080 residents in a 5 mile radius.
 
ROCKFORD, IL
• Rockford is the county seat of Winnebago County and is the 5th largest city in the state.
• The city is located in the burgeoning I-90 growth corridor and is part of the 3rd largest economic corridor in the U.S.
• Rockford has high performing world class industry clusters in aerospace, automotive, logistics and advanced manufacturing. Rockford is also a growing regional center for health care.
• Rockford is home to the operations of several large companies such as: Mercy Health System, Swedish American, part of UW Health, Collins Aerospace, United Parcel Service, OSF St. Anthony’s Healthcare, Fiat Chrysler, Woodward Inc., Lowe’s Distribution Center, Mondelez International, and Packaging Coordinators Inc.
• Rockford is 60 minutes from O’Hare International Airport (ORD) and is served by the city’s own international airport – Chicago Rockford International Airport (RFD). RFD is home to the second largest UPS air cargo hub in the country.
 
8.5 YEAR CORPORATE NN LEASE | 33 YEAR OPERATING HISTORY
• This is a 12,544 SF Walgreens that has been operating at this location since 1991.
• The subject property has a corporate guaranteed NN Lease with Walgreens that commenced in April 1992 and expires in April 2032
• Tenant has options to terminate the lease every 5 years beginning on April 30, 2032 with 6 months notice
• The Tenant is responsible for Parking Lot Repair, non-structural CAM, Taxes, and Insurance
• The Landlord is responsible for Roof, Structure, and parking lot replacement
 
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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