Highlights
• Firm lease through 2034; renewal options extend to 2059 • 30% rent increase at start of first renewal option • Large 2.06-acre site with frontage on three streets • Population: 32,739 within 5 miles; 379,441 in Davenport-Moline-Rock Island, IA‑IL MSA • Major local employers: ADM, Nestlé Purina, Lyondell Chemical • Nearby retailers: Hy-Vee, AutoZone, Scooter’s Coffee, Ace Hardware, NAPA Auto Parts, Dollar General
Description
Marcus & Millichap is offering for sale the fee simple interest in a 13,905-square-foot single-tenant drive-through Walgreens pharmacy in Clinton, Iowa, with over eight years remaining on its double-net lease. The lease includes five five-year renewal options, featuring a 30% rent increase at the start of the first option. The property is situated on a 2.06-acre parcel at a high-traffic signalized intersection of South Fourth Street (U.S. Highways 30 and 67) and Eighth Avenue S, directly across from a Hy-Vee supermarket with a Fast & Fresh fuel station and convenience store. Located just half a mile from the Mississippi River and four miles from downtown Fulton, Illinois, via the Gateway Bridge, the site enjoys excellent regional access. Clinton benefits from strategic positioning along the Mississippi River with connectivity to U.S. Highways 30 and 67, Interstate 80, and major rail lines, making it a hub for manufacturing and industry. Key employers in the area include Archer Daniels Midland, Nestlé Purina, and Lyondell Chemical Company. Walgreens, founded in 1901 and now part of Walgreens Boots Alliance, is the second-largest pharmacy chain in the U.S., and in March 2025, WBA announced an agreement to be acquired by private-equity firm Sycamore Partners. This offering provides investors with the security of a long-term lease, a significant rent increase at the first renewal, and a prime hard-corner location across from a major supermarket.
Listing Details
- Cap Rate
9.1%
- Tenancy
Single
- Space Type
retail
- Sub Category
pharmacy
- Date Listed
10/15/2025
- Ownership Info
Corporate
- Broker/Agent Co-op
Yes
- Investment Type
Net Lease
- Net Operating Income
$250,000
- Brand Info
Walgreens
- Parking Info
84 Spaces
Property Specifics
- Property Name
Walgreens
- Property Class
B
- No of Buildings
1
- No of Stories
1
- No of Units
1
- Building Size
13,905 SF
- Lot Size
2.06 AC
- APN
80-0130-0000
- Occupancy
100%