950 S Centerville Rd - Drug Store FOR SALE


Sturgis, MI 49091
$3,030,000 USD
619-297-0055
950 S Centerville Rd, Sturgis, MI for Sale
$3,030,000 USD
Drug Store - FOR SALE
1/3
null | 10% Cap Rate

950 S Centerville Rd
Sturgis, MI 49091


HIGHLIGHTS

  • Only free-standing national chain drugstore in Sturgis and only Walgreens for over 15 miles.
  • This is the closest national pharmacy to Sturgis Hospital, an 84-bed health center located 1.6 miles from the property.
  • Over 16 million square feet of industrial space within a 3-mile radius and 2.3 million square feet of retail space within a 2-mile radius.
  • Located with frontage on Centerville Road, with over 16,000 VPD, serving as Sturgis's main North/South thoroughfare.
  • Walgreens has been operating at this location for over 19 years.

OVERVIEW

We are pleased to market for sale the Walgreens property located at 950 South Centerville Road in Sturgis, Michigan ("The Property"). Walgreens has been successfully operating at this location for 19 years and has approximately 5 years of firm term remaining before 10 (5-year) option periods. The tenant is operating on an absolute triple net lease which provides for no landlord obligations whatsoever. The Property benefits from limited competition as it is the only free-standing national chain drugstore in Sturgis with the next nearest Walgreens over 15-miles away. Walgreens is also conveniently located just 1.5 Miles from Sturgis Hospital, an 84-bed facility which provides a strong prescription base for the pharmacy. Walgreens is positioned in a dense retail corridor with over 850,000 square feet of retail space within a half mile. National retail tenants in the immediate surrounding area include Walmart, ALDI, Meijer and Dollar Tree. Additionally, the property has frontage along Centerville Road (MI Route 66), which is the main thoroughfare in Sturgis with over 16,000 vehicles per day. Listed in association with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, MI DRE Lic. 6502428679.

FOR SALE DETAILS

PRICE

$3,030,000 USD

PRICE/SF

$204 USD /SF

CAP RATE

10%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

10.00 CAP | $3.2 M | Only Drugstore 15 Miles

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

58

LAND DETAILS

LAND ACRES

1.56 AC

LAND SF

67,954 SF

ZONING

CM

APN/PARCEL ID

052-640-052-00

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.