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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.

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

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Financing By

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.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

Financing By

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