This Retail Property is Off-Market.

918 Riverview Dr
Kalamazoo, MI 49048 ·

13,000 SF · Retail For Sale

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Walgreens

Price N/A Property Use Type Net Lease Investment with 10+ years left on lease
Building Size 13,000 SF Cap Rate 7.50%
Property Type Retail Tenancy Single
Property Sub-type Free Standing Bldg Lot Size 1.44 AC
Listing ID: 16897990 Date Created: 11/01/2010 Last Updated: 08/04/2011

Description

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.

Highlights

  • 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

Research

918 Riverview Dr, Kalamazoo, MI 49048 (Kalamazoo County)

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