Walgreens for Sale in Houghton, MI
Houghton, MI
Key Investment Metrics
Price
$4,117,647
Cap Rate
8.5%
Net Operating Income
$350,000
Building Size
14550 SF
Land Area
1.44 Acres
Remaining Term
9 years
Lease Expiration
10/31/2035
Lease Term
20 years
Lease Commencement
10/26/2015
Lease Type
Absolute NNN
Year Built
2015
Occupancy
100%
Tenancy
Single
Property overview
Walgreens in Houghton
Review the reported property and lease details, then request the supporting documents for your acquisition review.
- Building area
- 14,550 SF
- Land area
- 1.44 acres
- Year built
- 2015
- Lease type
- Absolute NNN
- Lease expiration
- 10/31/2035
Confirm current availability, pricing and lease terms through the inquiry form before relying on this listing.
Before you make an offer
Four things to verify
- 1
Lease and guaranty
Request the executed lease and amendments. Identify the legal tenant, guarantor and landlord obligations.
- 2
Income and expenses
Obtain the rent roll and operating statement supporting the advertised NOI and cap rate.
- 3
Property condition
Review survey, title, condition and environmental information relevant to this property.
- 4
Exchange requirements
For a 1031 exchange, confirm eligibility and deadlines with your qualified intermediary and tax adviser.