Walgreens

Low Rent Compared to Walgreens Store Fleet – Walgreens typically pays between $280,000 and $320,000 in annual rent at comparable locations, while this store pays only $155,000. This highly favorable lease structure enhances the location’s long-term importance to the tenant and supports ongoing occupancy.
Established 30-Year Operating History – Walgreens has operated successfully at this location since 1994, demonstrating more than three decades of sustained performance, customer loyalty, and commitment to the trade area. That commitment was further reinforced through lease amendments in 2010 and 2020, when Walgreens waived termination rights and extended its long-term occupancy.
Rare 21.2% Rent Increase Opportunity – At the end of the current lease term, and upon another waived termination option, Walgreens is scheduled to implement a 21.2% rent increase, which would increase the property’s cap rate to 10.30%.
Strong Downside Protection – Comparable Walgreens properties with similar building and lot sizes are commonly valued between $3 million and $6 million. This offering is priced below $2 million, at just $135.58 per square foot, providing investors with a lower basis and enhanced downside protection.
State Capital Economic Anchor – Located in Springfield, Illinois, the state capital, the property benefits from a stable, government-driven economy supported by approximately 72,500 jobs across more than 4,000 businesses. The region generates over $3.9 billion in annual payroll, creating a durable foundation for local consumer spending.
Essential National Tenant – Walgreens remains one of the nation’s most important retailers, operating approximately 8,000 locations, employing 211,000 team members, and serving 9 million customers daily. Prior to being taken private in 2025, Walgreens reported approximately $154.6 billion in trailing twelve-month revenue, underscoring its scale, financial strength, and critical role in providing pharmacy access across the United States.

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Matt Fitzgerald