Walgreens
Hospital Location | 7.00% CAP | 2,559 SqFt
Marketing description
BRAND NEW 2023 WALGREENS | HOSPITAL-ANCHORED LOCATION | HEALTHCARE & SENIOR-DRIVEN DEMAND
TD Commercial Group is proud to present for sale a brand-new Walgreens (Corporate) located at 1841 N Michigan Ave, Saginaw, MI, strategically positioned in the heart of the city’s primary healthcare corridor. This absolute NNN lease offers investors a long-term, passive income stream backed by Walgreens’ corporate credit and supported by consistent prescription volume driven by the region’s two major hospital campuses.
Constructed in 2023, this state-of-the-art 2,559 SF prototype reflects Walgreens’ latest build-to-suit design, emphasizing operational efficiency, improved script throughput, and lower occupancy costs. The property is surrounded by a robust healthcare ecosystem—anchored by Covenant Healthcare Hospital (600 beds) just 0.3 miles away and MyMichigan Medical Center (268 beds) 1.2 miles south. Nearby Fresenius and DaVita Dialysis Centers, along with the 35-unit Bliss Park Senior Apartments, contribute to a steady, necessity-based customer base.
Located along N Michigan Ave, one of Saginaw’s key north–south arterials connecting directly to I-675, the site benefits from strong visibility, accessibility, and constant traffic from both medical and residential users. This corridor’s healthcare concentration, dense surrounding population, and resilient prescription demand make this Walgreens one of the most strategically positioned assets in the Michigan portfolio.
Investment highlights
HOSPITAL-ANCHORED LOCATION | DUAL MEDICAL CAMPUSES
Positioned less than 0.3 miles from the 600-bed Covenant Healthcare Hospital and just 1.2 miles from MyMichigan Medical Center, this Walgreens sits at the center of Saginaw’s primary healthcare corridor. Prescription volume is fueled by hospital discharges, outpatient referrals, staff demand, and senior patient traffic.
NEW 2023 CONSTRUCTION | LATEST WALGREENS PROTOTYPE
Completed in 2023, this state-of-the-art 2,559 SF store reflects Walgreens’ latest build to-suit design, emphasizing efficient operations, prescription throughput, and lower occupancy costs. The investment in new construction demonstrates long-term corporate confidence in the Saginaw trade area.
STRONG HEALTHCARE & SENIOR DEMAND BASE
The store is surrounded by medical and senior-living infrastructure, including Fresenius and DaVita dialysis centers and the 35-unit Bliss Park Senior Apartments. This healthcare cluster generates consistent necessity-based demand, making the site highly resilient and less dependent on discretionary retail traffic.
PROMINENT CORNER ALONG N MICHIGAN AVENUE
Located along Saginaw’s key north–south arterial with immediate access to I-675, the site benefits from strong visibility, commuter accessibility, and convenient proximity to downtown. Michigan Avenue connects both hospital campuses, ensuring Walgreens remains the preferred pharmacy for staff and patients alike.
ABSOLUTE NNN LEASE | PASSIVE INVESTMENT
Walgreens operates on a brand-new absolute NNN lease, offering investors a truly passive, long-term income stream. The lease includes 5% rent increases in each option period, providing predictable growth and inflation protection for years to come.
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