Walgreens: Escanaba, MI
Retail | 6.50% CAP | 15,268 SqFt
Marketing description
The CBRE Net Lease Property Group is pleased to offer for sale the 15,268-square-foot Walgreens situated on 1.22 acres in Escanaba, MI. The site is subject to a ±13.2-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.
Investment highlights
NNN Lease with Renewal Options: The site is subject to a ±13.2-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.
Excellent Access & Visibility: Walgreens is positioned with excellent access and visibility at the signalized intersection of Ludington Street (10,244 VPD) and South Lincoln Road (16,236 VPD).
Retail & Commercial Corridor: In total, there are 2.1 MSF of retail within a 3-mile radius. Major retailers in the surrounding area include Walmart Supercenter, Menards, Meijer, ALDI, Anytime Fitness, Marhsalls, Harbor Freight, Hobby Lobby, Dunham’s Sports, Dollar Tree, Bath & Body Works, Sherwin-Williams, Starbucks, Wendy’s, Burger King, Advance Auto Parts, AutoZone Auto Parts, a Ford dealership and a Toyota dealership, to name a few.
Delta County, Michigan Advantage: Located in the ‘Upper Peninsula’ of Michigan, Delta County is home to 36,605 people. The county seat is Escanaba, MI. The economy in the area is fueled by healthcare, education and manufacturing, with a strong focus on tourism due to its natural beauty and outdoor recreational activities.
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