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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 Chicago in 1901, after pharmacist Charles R. Walgreen Sr. purchased the drugstore where a pharmacy career began. The company grew from a neighborhood drugstore into a broad retail health business offering prescription services, health and wellness products, photo services, home delivery, specialty pharmacy, and virtual healthcare. Walgreens serves customers through a wide network of community pharmacies and digital platforms, with a focus on accessible medicine, everyday essentials, and healthcare support.
| 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 | $944,200 |
Property Taxes
Parcel Number
101-032-000-005-01
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$944,200
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Walgreens | 1290 W Main St
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