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918 Riverview Dr, Kalamazoo, MI 49048
13,000 SF | Retail
Retail Property - Off Market
- Building Size:
- 13,000 SF
- Property Type:
- Property Sub-type:
- Free Standing Bldg
- Property Use Type:
- Net Lease Investment with
- 10+ years left on lease
- Cap Rate:
- Lot Size:
- 1.44 AC
- Listing ID
- Last Updated
- over 1 year ago
- Long-Term Net Lease to Walgreen Co.: 15 Years Remaining
- Hard Corner Location Adjacent to McDonald' s
- S&P Rated "A"
- Less than 1/2 Mile from Large Teaching Hospital
- Frontage on Highway 43
- Kalamazoo is Home to Western Michigan University
Incorporated in 1909, Walgreen Co. (NYSE: "WAG") operates 7,496 locations comprising 6,997 drugstores, 377 worksite facilities, 105 home care facilities, 15 specialty pharmacies, and 2 mail service facilities in 50 states, the District of Columbia, Puerto Rico, and Guam. It also owns 33 strip shopping malls.
For the nine months ended May 31, 2010, Walgreen reported revenue of $50.55 billion with net income of $1.62 billion and net worth of $15.11 billion. For the fiscal year ended August 31, 2009, Walgreen reported revenue of $63.35 billion with net income of $2.006 billion and net worth of $14.376 billion. Walgreen enjoys a Standard & Poor's rating of A and is ranked 32nd in the Fortune 500.
The property is located in northeast Kalamazoo with frontage on Highway 43. Walgreens is adjacent to McDonald's; other businesses at the intersection of Riverview Drive and Gull Road include Advance Auto Parts, Family Dollar Store, Lentz USA Automotive Center, Muffler Man, and Qwik Hitch. Less than half a mile northeast of the site is Borgess Medical Center, a large teaching hospital of Michigan State University. Bronson Methodist Hospital is located approximately 1.3 miles southwest of Walgreens. In 2007, the traffic count on Gull Road just west of Riverview Drive was 16,229 vehicles per day. Kalamazoo-Battle Creek International Airport in neighboring Portage, MI, is a 10-minute drive from the property.
Map of 918 Riverview Dr, Kalamazoo, MI 49048 (Kalamazoo County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P