Quincy, IL - Walgreens

Description:

SRS Real Estate Partners–Midwest, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NNN-leased Walgreens investment property located in Quincy, Illinois. The tenant, Walgreens, has 11 years remaining on their current initial term with ten (5-year) options to extend, demonstrating their commitment to the site. The site features a drive-thru, enhancing tenant functionality and long-term retail viability. The property also features an attractive assumable financing, providing buyers the opportunity to take advantage of favorable loan terms and potentially below-market interest rates. The lease is an absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for an investor.

The Walgreens is located on the signalized, hard corner intersection of Broadway Street and N 18th Street with a combined (29,900 VPD). Broadway Street, is the major retail thoroughfare serving the city of Quincy. The asset is adjacent to Quincy University, a private institution with over 1,300 enrolled students, generating consistent consumer traffic. In addition, Walgreens is also across from Quincy Common Shopping Center, a 182,292 square foot center anchored by Hobby Lobby and Hy-Vee. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Target, AMC Theatres, Staples, Raising Cane’s, Mcdonald’s, Taco Bell, and more, further increasing consumer traffic to the site. The subject property is in close proximity to Blessing Hospital (347 beds), which, according to Placer. ai, ranks in the 82nd percentile nationally for visit volume. The 5-mile trade area is supported by a population of over 46,000 and 35,000 employees with an average household income of $82,141.

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Listing ID: a28TP000002OdVJYA0