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Drug Store

Walgreens

797 Capital Ave NE, Battle Creek, MI 49017

Listing Price: $6,054,000

Cap Rate
5.60%
Tenant Name
Walgreens
Years Remaining On Lease
12.6
Gross SF
14,550
Guarantor
Corporate Guarantee
Rentable SF
14,550
Price/Gross SF
$416.08
Lease Type
Absolute Net
Rent Per Square Feet
$23.30

Investment Overview

Marcus & Millichap is proud to present this Walgreen's Drug Store located at 797 Capital Avenue Northeast, Battle Creek, Michigan. The existing lease is a 20-year absolute-net (NNN) lease with over 12.5 years remaining. The triple net lease also includes ten five-year renewal options. The signalized, hard corner intersection was chosen as a built-to-suit location for the tenant due to strong traffic counts, multiple points of ingress/egress, and a shared parking lot with Little Caesar and T-Mobile, which helps increase foot traffic to the store. The City of Battle Creek is committed to fostering economic vitality through business recruitment and retention, to attract new investment to the community. The city, working with numerous partners -- like Battle Creek Unlimited -- works hard to help entrepreneurs and startup companies plan, implement, and sustain their new businesses, and assist existing business owners with their growth and development. Battle Creek Unlimited provides economic development services to large businesses and the city's Fort Custer Industrial Park. The city's Economic Development Fund (EDF) team, under the direction of the city manager's office, services small businesses, and commercial and retail development. The EDF team will help guide your business through the regulatory process, providing assistance with planning and zoning, code and inspections, access to incentives, and more. Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the U.S. and Europe. Walgreens Boots Alliance and the companies in which it has equity method investments together have a presence in more than 25 countries and employ more than 385,000 people. The Company is a global leader in pharmacy-led, health and wellbeing retail and, together with the companies in which it has equity method investments, has approximately 14,500 stores in 11 countries as well as one of the largest global pharmaceutical wholesale and distribution networks, with more than 390 distribution centers delivering to more than 230,000 pharmacies, doctors, health centers and hospitals each year in more than 20 countries.

Investment Highlights

  • ~ Walgreens Corporately Guaranteed Lease ~
  • ~ Over 12.5 Years Remaining on the Lease ~
  • ~ Absolute Triple Net Lease - No LL Responsibilities ~
  • ~ 2014 Built-to-Suit Location for Walgreens ~
  • ~ Signalized Hard Corner Intersection ~
  • ~ Ten Five-Year Options to Extend ~

Exclusively Listed By

Financing By

Listing Price: $6,054,000

Cap Rate
5.60%
Tenant Name
Walgreens
Years Remaining On Lease
12.6
Gross SF
14,550
Guarantor
Corporate Guarantee
Rentable SF
14,550
Price/Gross SF
$416.08
Lease Type
Absolute Net
Rent Per Square Feet
$23.30

Investment Highlights

  • ~ Walgreens Corporately Guaranteed Lease ~
  • ~ Over 12.5 Years Remaining on the Lease ~
  • ~ Absolute Triple Net Lease - No LL Responsibilities ~
  • ~ 2014 Built-to-Suit Location for Walgreens ~
  • ~ Signalized Hard Corner Intersection ~
  • ~ Ten Five-Year Options to Extend ~

Investment Overview

Marcus & Millichap is proud to present this Walgreen's Drug Store located at 797 Capital Avenue Northeast, Battle Creek, Michigan. The existing lease is a 20-year absolute-net (NNN) lease with over 12.5 years remaining. The triple net lease also includes ten five-year renewal options. The signalized, hard corner intersection was chosen as a built-to-suit location for the tenant due to strong traffic counts, multiple points of ingress/egress, and a shared parking lot with Little Caesar and T-Mobile, which helps increase foot traffic to the store. The City of Battle Creek is committed to fostering economic vitality through business recruitment and retention, to attract new investment to the community. The city, working with numerous partners -- like Battle Creek Unlimited -- works hard to help entrepreneurs and startup companies plan, implement, and sustain their new businesses, and assist existing business owners with their growth and development. Battle Creek Unlimited provides economic development services to large businesses and the city's Fort Custer Industrial Park. The city's Economic Development Fund (EDF) team, under the direction of the city manager's office, services small businesses, and commercial and retail development. The EDF team will help guide your business through the regulatory process, providing assistance with planning and zoning, code and inspections, access to incentives, and more. Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the U.S. and Europe. Walgreens Boots Alliance and the companies in which it has equity method investments together have a presence in more than 25 countries and employ more than 385,000 people. The Company is a global leader in pharmacy-led, health and wellbeing retail and, together with the companies in which it has equity method investments, has approximately 14,500 stores in 11 countries as well as one of the largest global pharmaceutical wholesale and distribution networks, with more than 390 distribution centers delivering to more than 230,000 pharmacies, doctors, health centers and hospitals each year in more than 20 countries.

Exclusively Listed By

Financing By

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