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1277 M 89
Plainwell, MI 49080
Walgreens Grand Rapids MSA 6.15 CAP 7 Yrs · Retail Property For Sale
Investment Highlights
- STABLE INCOME - Income guaranteed by Walgreens corporate (S&P BBB-) investment grade Top 20 Fortune 500 Company with over 9,200 locations.
- 18 YEAR HISTORY OF OPERATIONS - This Walgreens has a 18 year history of operations at this location and sells beer and wine.
- WITHIN 1 MI OF ASCENSION BORGESS-PIPP HOSPITAL - Located ±1mi west of Ascension Borgess-Pipp Hospital, a full-service care facility with 43 beds.
- 7 YRS REMAINING ON ABSOLUTE NET LEASE - Lease has 7 yrs remaining on an absolute net lease with no landlord responsibilities and 10 (5-year) options.
- ONLY NATIONAL BRAND DRUGSTORE IN PLAINWELL - Only stand alone national brand drugstore in Plainwell, next closest is over 10 miles away.
- 33 MI S OF GRAND RAPIDS - Grand Rapids is the 2nd largest city in MI and has a population of over 1,000,000 residents.
Property Facts
Property Type
Retail
Property Subtype
Building Size
14,900 SF
Building Class
C
Year Built
2003
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
2.11 AC
Zoning
Commercial - Commercial district zone
Parking
58 Spaces (4.1 Spaces per 1,000 SF Leased)
Frontage
200’ on M-89
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
Property Taxes
| Parcel Number | 17-024-071-00 | Improvements Assessment | $637,000 |
| Land Assessment | $311,900 | Total Assessment | $948,900 |
Property Taxes
Parcel Number
17-024-071-00
Land Assessment
$311,900
Improvements Assessment
$637,000
Total Assessment
$948,900
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