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Walgreens 1007 Memorial Rd

14,550 SF Retail Building Houghton, MI 49931 $6,940,572 CAD ($477 CAD/SF) 7.25% Cap Rate

Retail Buildings Michigan Houghton 1007 Memorial Rd, Houghton, MI 49931

INVESTMENT HIGHLIGHTS

  • Absolute Net Lease | Zero Landlord Responsibilities | Passive Investment
  • Prototypical Free-Standing Walgreens W/ Drive-Thru On 1.44 Acres
  • Corporate Guarantee | 6.2% Revenue Growth for Fiscal Year Ending 8/31/24 Reaching $147.7 Billion
  • 10+ Years Remaining on Original 20-Year Lease W/ 11, 5-Year Options
  • Close Proximity to Michigan Technological University (2.1 Miles Away) - Over 7,300 Students
  • Above Average Store Sales (Inquire W/ Agent for More Details)

EXECUTIVE SUMMARY

Absolute Net Lease | Zero Landlord Responsibilities | Passive Investment
10+ Years Remaining on Original 20-Year Lease W/ 11, 5-Year Options
Prototypical Free-Standing Walgreens W/ Drive-Thru On 1.44 Acres

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,550 SF
Building Class
B
Year Built
2015
Price
$6,940,572 CAD
Price Per SF
$477 CAD
Cap Rate
7.25%
NOI
$503,192 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.44 AC
Zoning
B-3 - Business use

LINKS

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1007 Memorial Rd, Houghton, MI - AERIAL map view - Image1
1007 Memorial Rd, Houghton, MI - AERIAL map view - Image2

NEARBY MAJOR RETAILERS

Huntington National Bank
Snap Fitness 24/7
Applebee's
IGA
CrossFit

PROPERTY TAXES

Parcel Number 052-052-001-09 Improvements Assessment $0 CAD
Land Assessment $0 CAD Total Assessment $1,726,400 CAD

PROPERTY TAXES

Parcel Number
052-052-001-09
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,726,400 CAD
(248) 702-0288

CONTACTS

  • Listing ID: 34508315

  • Date on Market: 2025-01-16

  • Last Updated:

  • Address: 1007 Memorial Rd, Houghton, MI 49931

The Retail Property at 1007 Memorial Rd, Houghton, MI 49931 is currently available for sale. Contact Encore Real Estate Investment Services for more information.

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1007 Memorial Rd, Houghton, MI for sale Building Photo- Image 1 of 7
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1007 Memorial Rd, Houghton, MI for sale Building Photo- Image 2 of 7
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1007 Memorial Rd, Houghton, MI for sale Building Photo- Image 3 of 7
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1007 Memorial Rd, Houghton, MI for sale Building Photo- Image 4 of 7
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1007 Memorial Rd, Houghton, MI for sale Aerial- Image 5 of 7
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1007 Memorial Rd, Houghton, MI for sale Aerial- Image 6 of 7
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Walgreens | 1007 Memorial Rd
(248) 702-0288 x

Walgreens | 1007 Memorial Rd

1/3

Deno Bistolarides

(248) 702-0288

(248) 702-0288

Nick Yaldo

(248) 924-5644

(248) 924-5644

Brent Hanna

(248) 702-0293

(248) 702-0293

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