300 E F St - Drug Store FOR SALE


Iron Mountain, MI 49801
$3,585,300 USD
703-477-1315
300 E F St, Iron Mountain, MI for Sale
$3,585,300 USD
Drug Store - FOR SALE
1/6
null | 7.75% Cap Rate

300 E F St
Iron Mountain, MI 49801


HIGHLIGHTS

  • Absolute NNN Lease
  • 2.1 MSF of retail, 2.0 MSF of industrial and 650 multi-family units within a 5-mile radius of the site
  • 88 miles north of Green Bay, WI

OVERVIEW

Located approximately 88 miles north of Green Bay, WI, Walgreens is located at the hard corner, signalized intersection of East F Street and South Stephenson Avenue (25,644 VPD). Originally set to expire in 2034, Walgreens’ absolute NNN lease was extended through 2038 and now features ±12.3 years of primary term remaining with eleven, 5-year options to renew. Walgreens is immediately adjacent to Midtown Laundromat & Tanning, and is proximate to a variety of uses, including Anytime Fitness, McDonald’s, Dunkin’, Pizza Hut, Taco Bell, Wendy’s, Little Caesar’s Pizza and Towne Place Suites by Marriott (95 rooms), to name a few. In total, there are 2.1 MSF of retail, 2.0 MSF of industrial and 650 multi-family units within a 5-mile radius of the site. There is an abundance of traffic drivers within proximity to the site, including Iron Mountain VA Medical Center (±1,100 feet south), Iron Mountain City Park (1.35 miles northwest), Pine Grove Country Club (1.56 miles northwest), Pine Mountain Ski & Golf Resort (2.31 miles northwest) and Timberstone Golf Course (2.35 miles northwest), among others.

FOR SALE DETAILS

PRICE

$3,585,300 USD

PRICE/SF

$191 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens: Iron Mountain, MI

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

74

LAND DETAILS

LAND ACRES

1.85 AC

LAND SF

80,586 SF

ZONING

B-2

APN/PARCEL ID

051-000-219-13

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 Notice.