21790 21 Mile Rd 14,820 SF Retail Building Macomb Township, MI 48044 $4,475,000 ($301.96/SF) 8% Cap Rate

PRICE REDUCED AGAIN - Motivated Seller - Submit All Offers - This offering presents the opportunity to acquire a premier Walgreens-occupied retail asset strategically located in Macomb County, Michigan. The property features a freestanding, purpose-built Walgreens pharmacy with a drive-thru, situated on a high-visibility, signalized corner with strong traffic counts and excellent ingress/egress. The store benefits from dense surrounding residential development, nearby schools, and a robust retail trade area with national tenants.
The Walgreens is operated under a long-term, absolute net lease (NNN), with zero landlord responsibilities. The property features durable construction and high-quality Walgreens prototype design, ensuring long-term functionality and minimal capital expenditure risk for ownership.
Located in a densely populated suburban area just north of Detroit, the site sees strong daily traffic volumes and benefits from proximity to established residential neighborhoods, schools, and major retail centers. Macomb County continues to demonstrate stable economic growth, rising property values, and ongoing infrastructure investment, reinforcing the strength of the tenant’s location selection.
In July 2025, Walgreens Boots Alliance’s U.S. was acquired by Sycamore Partners, a New York-based private equity firm specializing in consumer and retail investments. The acquisition includes over 8,000 Walgreens retail pharmacy locations across the United States.
This move is part of Walgreens’ larger restructuring strategy to streamline operations and refocus on its core retail pharmacy business. Under Sycamore’s stewardship, Walgreens is expected to benefit from enhanced capital support and operational discipline, with no disruption to its store-level operations. Leases, staffing, and customer service are expected to remain unchanged at the store level. Sycamore has a strong track record of investing in and growing major retail platforms, including Staples, Belk, and The Limited.
This corporate event underscores the long-term viability of the Walgreens brand and enhances the investment profile of single-tenant assets under its banner.