21790 21 Mile Rd - Drug Store FOR SALE


Macomb Township, MI 48044
$4,710,526 USD
310-435-9106
21790 21 Mile Rd, Macomb Township, MI for Sale
$4,710,526 USD
Drug Store - FOR SALE
1/3
null | 7.6% Cap Rate

21790 21 Mile Rd
Macomb Township, MI 48044


HIGHLIGHTS

  • Sales increased 13% over recent years
  • Easy commuter access to Hwy 59 and I-94
  • Explosive population growth over past decade
  • Wonderful family oriented neighborhood with 150+ parks, 30 miles of shoreline, 56 milse of rivers and streams

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$4,710,526 USD

PRICE/SF

$318 USD /SF

CAP RATE

7.6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

118

LAND DETAILS

LAND ACRES

1.51 AC

LAND SF

65,776 SF

ZONING

C3

APN/PARCEL ID

20-08-31-103-002

ASK ABOUT THIS PROPERTY

Daniel CorcoranCorcoran Group of CaliforniaMore Info
310-435-9106

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Daniel CorcoranCorcoran Group of CaliforniaMore Info
310-435-9106

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