Walgreens - Net Lease Property for Sale
Garden City, MI
Key Investment Metrics
Price
$5,288,889
Cap Rate
9.0%
Net Operating Income
$476,000
Building Size
14560 SF
Lot Size
14,560 SF
Land Area
1.62 Acres
Remaining Term
3 years
Lease Expiration
01/31/2030
Lease Term
25.1 years
Lease Commencement
01/08/2005
Lease Type
Absolute NNN
Tenant Credit
Credit Rated, Corporate Guarantee
Year Built
2005
Tenancy
Single
About This Walgreens Net Lease Property
This Walgreens NNN (triple net lease) property is located in Garden City, MI and represents an excellent investment opportunity for commercial real estate investors. The property features 14560 square feet of building space and was built in 2005.
With a cap rate of 9.0%, this Walgreens net lease property offers stable income potential. The asking price is $5,288,889, making it an attractive option for 1031 exchange investors seeking quality Walgreens commercial properties.
Why Invest in Walgreens NNN Properties?
- Stable Income: Walgreens net lease properties provide predictable cash flow with minimal landlord responsibilities.
- Strong Tenant: Walgreens is a nationally recognized brand with proven operational success.
- 1031 Exchange Eligible: This property qualifies for 1031 tax-deferred exchanges, allowing investors to defer capital gains taxes.
- Triple Net Lease: The tenant is responsible for property taxes, insurance, and maintenance, reducing landlord obligations.
Garden City, MI Market Overview
Located in Garden City, MI, this Walgreens property benefits from strong local demographics and market fundamentals. The Garden City area offers excellent visibility and accessibility, making it an ideal location for Walgreens operations and a solid investment for net lease property buyers.