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.