Drug Store
Walgreens | Top Performing Location | Brand New 15 Yr. Abs. NNN | 5% Increases | Escanaba, MI
2301 Ludington St, Escanaba, MI 49829
Listing Price: $4,096,585
Cap Rate
6.15%
Tenant Name
Walgreens
Years Remaining On Lease
15.1
Guarantor
Corporate Guarantee
Rentable SF
14,820
Lease Type
Absolute Net
Rent Per Square Feet
$276.42
Investment Overview
Marcus & Millichap is pleased to bring to market Walgreens located in Escanaba, Michigan.
Walgreens | Top Performing Location | Brand New 15 Yr. Abs. NNN | 5% Increases | Escanaba, MI
Investment Highlights
- Brand-New 15 Year Absolute Net Lease | No Landlord Responsibilities | Corporately Guaranteed
- Five Percent Rental Increases Every Five-Years in the Base Term and in Each of 12, Five-Year Renewal Options
- A Top Performing Walgreens Location with Reported Store Sales of $4.6 Million
- Located On a Hard, Signalized Corner Seeing Over 29,000 Combined Vehicles per Day | High Visibility with Three Points of Ingress/Egress and a Pylon Sign
- Situated in a Dense Retail Corridor Near Multiple National Tenants Such as Walmart Supercenter, Menards, Aldi, Meijer, McDonald's, Hobby Lobby, Marshalls, Wendy's, Domino's, Sherwin Williams, Advance Auto Parts and More
- One Mile from OSF St. Francis Hospital and Medical Campus | 0.3 Miles From Escanaba High School (Over 1,100 Students)
- Escanaba is the Third Largest City in the Michigan Upper Peninsula
Drug Store
Walgreens | Top Performing Location | Brand New 15 Yr. Abs. NNN | 5% Increases | Escanaba, MI
Listing Price: $4,096,585
Cap Rate
6.15%
Tenant Name
Walgreens
Years Remaining On Lease
15.1
Guarantor
Corporate Guarantee
Rentable SF
14,820
Lease Type
Absolute Net
Rent Per Square Feet
$276.42
Investment Highlights
- Brand-New 15 Year Absolute Net Lease | No Landlord Responsibilities | Corporately Guaranteed
- Five Percent Rental Increases Every Five-Years in the Base Term and in Each of 12, Five-Year Renewal Options
- A Top Performing Walgreens Location with Reported Store Sales of $4.6 Million
- Located On a Hard, Signalized Corner Seeing Over 29,000 Combined Vehicles per Day | High Visibility with Three Points of Ingress/Egress and a Pylon Sign
- Situated in a Dense Retail Corridor Near Multiple National Tenants Such as Walmart Supercenter, Menards, Aldi, Meijer, McDonald's, Hobby Lobby, Marshalls, Wendy's, Domino's, Sherwin Williams, Advance Auto Parts and More
- One Mile from OSF St. Francis Hospital and Medical Campus | 0.3 Miles From Escanaba High School (Over 1,100 Students)
- Escanaba is the Third Largest City in the Michigan Upper Peninsula
Investment Overview
Marcus & Millichap is pleased to bring to market Walgreens located in Escanaba, Michigan.
