10613 Knoxville AvePeoria, IL 61615

This exceptional investment opportunity presents a 14,820-square-foot Walgreens conveniently located at 10613 Knoxville Ave, Peoria, IL 61615. The property boasts an absolute triple-net (NNN) lease with a corporate Walgreens guarantee, providing significant security and passive income. With 8.1 years remaining on the lease term (expiring December 30, 2032), and eleven 5-year renewal options, this investment offers long-term stability. The property sits on a 1.6-acre lot and was built in 2012. The current asking price is $4,035,388, representing a compelling 7.50% cap rate based on a net operating income (NOI) of $302,652. This prime retail location benefits from its position in a thriving retail corridor anchored by Schnucks Supermarket and surrounded by other national brands including McDonald's, Culver's, Domino's Pizza, and Jiffy Lube. The surrounding area demonstrates strong demographics, with 48,036 residents and 20,581 households within a 5-mile radius, boasting an average household income of $141,000. Walgreens' robust financial performance, with a 4.8% sales increase in FY 2023 and a 10% year-over-year sales increase in Q1 2024, further solidifies this investment's potential. This is a rare opportunity to acquire a high-performing, well-located Walgreens property with a strong lease and significant upside potential.