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Walgreens 1290 W Main St 14,490 SF Retail Building Gaylord, MI 49735 $3,570,000 ($246.38/SF) 9.75% Cap Rate
Investment Highlights
- Absolute NNN lease with no landlord responsibilities and ±5.75 years remaining.
- Prime location just off I-75 (Exit 279) with ±29,300 vehicles per day.
- No other Walgreens within 25+ miles, ensuring limited competition.
- Freestanding ±14,490 SF Walgreens with drive-thru on ±1.90 acres.
- Dominant retail corridor with Walmart, Lowe’s, Starbucks, and more nearby.
- Built in 2006 with ample parking and multiple access points for customers.
Executive Summary
Matt Fitzgerald
Matthews Real Estate Investment Services, Inc
License # 6505432273, 6502432668 (MI)
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Matthews Real Estate Investment Services, Inc
License # 6505432273, 6502432668 (MI)
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
14,490 SF
Building Class
B
Year Built
2007
Price
$3,570,000
Price Per SF
$246.38
Cap Rate
9.75%
NOI
$348,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.90 AC
Opportunity Zone
Yes
Amenities
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 14,490 SF
- $24.00
- Triple Net
- Dec 2081
Walgreens began in 1901 on Chicago's South Side, when pharmacist Charles R. Walgreen Sr. opened a neighborhood drugstore that grew into a national chain. Walgreens later combined with Alliance Boots to form Walgreens Boots Alliance, bringing together retail pharmacy, pharmaceutical wholesaling, and healthcare services under one business. Walgreens Boots Alliance operates an integrated healthcare, pharmacy, and retail model spanning U.S. and international operations, with businesses centered on prescription filling, consumer health products, beauty items, and related services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 14,490 SF | $24.00 | Triple Net | Dec 2081 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 101-032-000-005-01 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $961,700 |
Property Taxes
Parcel Number
101-032-000-005-01
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$961,700
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