2301 Ludington St - Drug Store FOR SALE


Escanaba, MI 49829
$3,876,000 USD
703-477-1315
2301 Ludington St, Escanaba, MI for Sale
$3,876,000 USD
Drug Store - FOR SALE
1/2
null | 6.5% Cap Rate

2301 Ludington St
Escanaba, MI 49829


HIGHLIGHTS

  • NNN Lease with Renewal Options | 5.00% Escalations Every 5 Years
  • Located at the Signalized Intersection of Ludington Street (10,244 VPD) and South Lincoln Road (16,236 VPD).
  • 2.1 MSF retail within a 3-mile radius | Walmart Supercenter, Menards, Meijer, ALDI, Anytime Fitness, Marshalls, Harbor Freight, etc.
  • Delta County, Michigan Advantage (Population 36,605)

OVERVIEW

The CBRE Net Lease Property Group is pleased to offer for sale the 15,268-square-foot Walgreens positioned on 1.22 acres in Escanaba, Michigan. The site is subject to a ±14.0-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.

FOR SALE DETAILS

PRICE

$3,876,000 USD

PRICE/SF

$254 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens Escanaba, MI

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

55

LAND DETAILS

LAND ACRES

1.22 AC

LAND SF

53,143 SF

ZONING

-

APN/PARCEL ID

210511202825429006

ASK ABOUT THIS PROPERTY

Thomas CarrCBREMore Info
703-477-1315

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Thomas CarrCBREMore Info
703-477-1315

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