903 N Mission St - Drug Store FOR SALE


Mount Pleasant, MI 48858
$3,989,473 USD
619-297-0055
903 N Mission St, Mount Pleasant, MI for Sale
$3,989,473 USD
Drug Store - FOR SALE
1/3
null | 9.5% Cap Rate

903 N Mission St
Mount Pleasant, MI 48858


HIGHLIGHTS

  • The lease is an absolute NNN lease with zero landlord obligations whatsoever.
  • Located 1 mile south of the property, Central Michigan University has over 15K students and is one of the major employers in Mt. Pleasant.
  • Less than 1 mile from the property, McLaren Central Michigan is a 118-bed hospital that serves Mount Pleasant, Isabella County, and central Michigan.
  • Owned and operated by the Saginaw Chippewa Tribal Nation, Soaring Eagle Casino & Resort features a 514-room hotel and employs over 3,000 people.
  • Located on N. Mission St/Pickard St, with a combined 33K VPD. Additionally, the property is close to US-127, connecting to Lansing with 20K VPD.

OVERVIEW

We are pleased to market for sale the Walgreens property located at 903 N Mission St, Mt Pleasant, MI 48858 ("The Property"). Walgreens has been operating at the site for 17 years and has approximately 9 years of firm term remaining before the option periods. Walgreens operates under a absolute triple net lease, which provides for no landlord obligations whatsoever. Less than one mile from the Property, McLaren Central Michigan Hospital is the primary healthcare provider in the region. This 118-bed, CMS 5-star-rated acute care hospital provides comprehensive services to Mount Pleasant, Isabella County, and surrounding areas, further supporting demand for pharmacy and healthcare services in the immediate vicinity. Located just 1 mile south of the Property, Central Michigan University is one of the largest universities in the state, enrolling over 15,000 full-time students. As one of the city’s major employers, CMU provides a steady base of year-round foot traffic from students, faculty, staff, and visitors. The Property is positioned at the signalized hard-corner of N Mission Street and Pickard Street, one of the most highly trafficked intersections in Mount Pleasant, with a combined 28,400 vehicles per day. The site also benefits from its proximity to the Michigan-127 interchange, which connects Mount Pleasant to Lansing and the greater central Michigan region, with over 20,000 vehicles daily. The Property also benefits from nearby Soaring Eagle Casino & Resort, a major economic and entertainment anchor in Mount Pleasant. Listed in conjunction with Brian Brockman, Bang Realty - Michigan Inc, 513-898-1551, wg@bangrealty.com, MI DRE Lic. 6502428679.

FOR SALE DETAILS

PRICE

$3,989,473 USD

PRICE/SF

$291 USD /SF

CAP RATE

9.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Central Michigan Walgreens CMU (15K Students)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.91 AC

LAND SF

83,200 SF

ZONING

C-3

APN/PARCEL ID

17-000-15-171-00

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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