Lucky's Market - Tallahassee, FL
US - Tallahassee, FL
A$18,257,000 | 5,079 m²
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire the fee-simple interest in a Walgreens located 400 W Fairchild St, Danville, IL (the “Property” or “Asset”). The property is within a dense retail trade area along West Fairchild Street and North Gilbert Street with direct exposure to over 32,000 vehicles per day. The Property is less than three miles from Danville Area Community College, a 75-acre campus and has over 5,250 students enrolled annually and has hosted the NJCAA Division II Men's National Basketball Tournament since 1994.
Walgreens benefits from the pharmacy demand in the area due to its positioning less than one mile from OSF Sacred Heart Medical Center, a 174-bed hospital with 95+ physicians, and high performing recognition in COPD (U.S. News & World Report, 2022-2023).
Upon close of escrow, Walgreens will execute a brand new 15-year absolute NNN lease with contractual increases and (12) 5-year renewal options.
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Attributes
Asking Price
A$7,505,000
Building area Net
1,346 m²
Occupancy
100.00%
Year built
2010
Cap Rate
5.70%
NOI
A$428,000
Media
Investment Highlights
- Brand new 15-year Absolute NNN lease with no landlord responsibilities
- Investment-grade tenancy (S&P:BBB) with corporate guaranty
- Less than one mile from OSF Sacred Heart Medical Center
- 5% rent escalations every 5-years
- Along Major transportation Interstate 74
- Adjacent to Danville Area Community College
- Situated on hard corner along W Fairchild St & N Gilbert St (32,000 VPD)
Contact brokers
Walgreens - Danville, IL (0 Properties)
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Last updated
5 Sep 2023
