Walgreens
Lake Michigan | 7.00% CAP | 2,500 SqFt
Marketing description
BRAND NEW 2021 WALGREENS | AFFLUENT MICHIGAN LAKESHORE MARKET | HEALTHCARE & RETIREMENT DRIVEN DEMAND
TD Commercial Group is pleased to offer for sale a newly constructed Walgreens (Corporate) located at 4157 Red Arrow Hwy, Stevensville, MI, in one of Southwest Michigan’s most desirable and affluent suburban markets. This absolute NNN lease provides investors with passive, stable income backed by a nationally recognized tenant and a long-term commitment to the trade area.
Completed in 2021, this modern build-to-suit reflects Walgreens’ latest prototype, strategically positioned along Red Arrow Highway, the region’s main arterial paralleling I-94. The property benefits from high visibility and strong traffic counts, connecting Benton Harbor, St. Joseph, and New Buffalo. The surrounding Lakeshore trade area boasts average household incomes exceeding $100,000 within three miles, driven by affluent homeowners and a growing retiree population.
The store’s success is anchored by proximity to Corewell Health Lakeland Hospital (300 beds) and multiple senior living communities, creating a durable, healthcare-driven customer base. Seasonal tourism and retirement migration to Michigan’s “Sunset Coast” further strengthen prescription and convenience sales, providing long-term insulation from retail volatility.
Investment highlights
AFFLUENT LAKESHORE TRADE AREA
Located in the Stevensville–St. Joseph corridor, this Walgreens serves one of Southwest Michigan’s most affluent suburban pockets, with average household incomes exceeding $100,000 within 3 miles. The combination of stable homeownership and affluent retirees creates a uniquely resilient customer base.
NEW BUILD-TO-SUIT RELOCATION (2021)
Walgreens relocated less than ¼ mile to this modern prototype in 2021, reaffirming its long-term commitment to the trade area. The new build offers greater efficiency, lower occupancy costs, and demonstrates Walgreens’ confidence in the corridor’s prescription demand.
HEALTHCARE-DRIVEN DEMAND BASE
The site is positioned just 3.5 miles from Corewell Health Lakeland Hospital, a 300-bed medical hub, and surrounded by multiple senior living communities. This healthcare ecosystem fuels consistent, necessity-based prescription traffic independent of retail cycles.
PRIME HIGHWAY VISIBILITY & CONNECTIVITY
Fronting Red Arrow Hwy with immediate access to I-94, the store captures strong local, commuter, and regional traffic flows between Benton Harbor, St. Joseph, Stevensville, and down to New Buffalo/Indiana. This positioning maximizes both daily prescription demand and convenience sales.
TOURISM & RETIREMENT HALO EFFECT
Stevensville benefits from its location along Lake Michigan’s “Sunset Coast,” a retirement and second-home destination for Chicago, Detroit, and Indiana households. Seasonal population surges and retirement migration patterns provide a long-term boost to both script volumes and discretionary healthcare spending.
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