802 E Cloverland Dr - Drug Store FOR SALE
Ironwood, MI 49938 |
802 E Cloverland Dr
Ironwood, MI 49938
HIGHLIGHTS
- Walgreens has a 30+ year operating history and is signing a new, 15-year absolute NNN lease with 5% rent increases showing their commitment to the loc
- Absolute Net Lease: Allows for a true, passive investment with no management required
- Located at the intersection of US Highway 2, Ironwood’s main thoroughfare, and Lake Street, with traffic counts in excess of nearly 15,000 VPD
- Investors can depreciate the building due to fee simple ownership. Rental increases in initial term and option periods provide a hedge against inflati
FOR SALE DETAILS
PRICE
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CAP RATE
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% LEASED
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TENANCY
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BUILDING DETAILS
PROPERTY NAME
Walgreens
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Drug Store
ADD'L SUBTYPES
Convenience Store, Freestanding
TOTAL BUILDING SIZE
13650
STORIES
1
YEAR BUILT
2008
SPRINKLERS
-
PARKING SPACES
56
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
-
APN/PARCEL ID
52-14-362-110
