1007 Memorial Rd - Freestanding FOR SALE


Houghton, MI 49931
$4,117,647 USD
248-514-8156
1007 Memorial Rd, Houghton, MI for Sale
$4,117,647 USD
Freestanding - FOR SALE
1/5
null | 8.5% Cap Rate

1007 Memorial Rd
Houghton, MI 49931


HIGHLIGHTS

  • Only National Pharmacy Chain in 100-Mile Radius
  • Strong Store Sales – Over $7M Reported Annually
  • Excellent Rent/Sales Ratio
  • 9+ Years of Primary Term Remaining
  • 2015 Construction
  • Hard Corner Location / High Visibility

OVERVIEW

Landmark Investment Sales is pleased to exclusively present the single-tenant, net-leased Walgreens located in Houghton, Michigan. This asset represents a rare opportunity to acquire the only national pharmacy within a 100-mile radius and serves as the primary healthcare and retail destination for the Keweenaw Peninsula and Northwest Upper Peninsula. Positioned on a high-visibility hard corner, the 2015-constructed property benefits from over nine years remaining on the primary lease term and reports strong store sales, reinforcing its dominance in a market with no direct national pharmacy competition. Offered at an attractive price point, this investment combines strong real estate fundamentals, a mission-critical location, and long-term, corporate-backed income.

FOR SALE DETAILS

PRICE

$4,117,647 USD

PRICE/SF

$283 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.44 AC

LAND SF

62,726 SF

ZONING

B-3

APN/PARCEL ID

052-052-001-09,052-185-002-65

ASK ABOUT THIS PROPERTY

Max LippittLandmark Commercial RE ServicesMore Info
248-514-8156

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Max LippittLandmark Commercial RE ServicesMore Info
248-514-8156

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.