Walgreens

17071 Fort Street Riverview, MI 48193

FOR SALE
Property Type:
Street Retail
Amount:
$5,442,000
Last Verified:
Sep 21, 2022

Highlights

  • NNN LEASE | 6+ YEARS REMAINING | INCREASING STORE SALES
  • NO LANDLORD RESPONSIBILITIES | LOW-RISK INVESTMENT
  • (8) 5-YEAR OPTIONS | WALGREENS AT SITE SINCE 1998
  • WALGREENS (S&P BBB) CORPORATE GUARANTEE
  • FORTUNE 500 COMPANY | 9,000+ LOCATIONS | $139B IN REVENUE
  • FEE SIMPLE ASSET | OFFERED FREE & CLEAR
  • LOCATED ON FORT STREET (M-85) | 27,000+ VPD
  • MULTIPLE POINTS OF INGRESS/EGRESS ACCESS TO SITE
  • FORT STREET CONSISTS OF 67,000+ VPD COMBINED EACH DIRECTION
  • COMBINED VPD AT INTERSECTIONS IS OVER 81,000 VPD
  • STRONG AND GROWING DEMOS | 183k PEOPLE IN 5-MILE RADIUS
  • ABOVE AVERAGE INCOME | $78K IN 5-MILE RADIUS
  • LIMITED COMPETITION | ONLY PHARMACY IN CITY
  • RETAILERS IN IMMEDIATE VICINITY INCLUDE: LOWE’S, KROGER, MEIJER, STARBUCKS, AUTOZONE, ADVANCE AUTO PARTS, PLANET FITNESS, BUFFALO WILD WINGS, ARBY’S, KFC, DOLLAR GENERAL, ETC.
  • 10-MINUTE DRIVE TO HENRY FORD WYANDOTTE HOSPITAL
  • 10-MINUTE DRIVE TO BEAUMONT HOSPITAL TRENTON
  • 20-MINUTE DRIVE TO METRO DETROIT AIRPORT | TOP 20 BUSIEST IN US

Description

Jonna Group at Colliers has been selected to exclusively represent for sale the NNN Walgreens located in Riverview, Michigan. CVS signed an original 20-year triple-net lease with zero landlord responsibilities and has over 6 years remaining of term. The lease features eight five-year options and offers a corporate guarantee by Walgreens, backed by over 9,000 locations. The property was built for Walgreens in 1998. This Walgreens site has limited competition and serves as the only pharmacy in the city.

The subject site is located with high visibility and frontage on Fort Street/M-85 (27,000+ VPD) and Pennsylvania Road (13,000+ VPD). The property features ingress/egress from both streets. Several national retailers in the immediate vicinity include Lowe’s, Kroger, Meijer, Starbucks, AutoZone, Advance Auto Parts, Planet Fitness, Buffalo Wild Wings, Arby’s, KFC, Dollar General, etc. The Walgreens is adjacent to both Lowe’s Home Improvement and Kroger. The location features excellent demographics with over 183,000 people in a 5-mile radius and $78,000 average household income which is well above the national average. The Walgreens is just a 20-minute drive from Detroit Metro Airport, one of the busiest airports in the United States.

Riverview (Downriver), Michigan


Year Built: 1998
Building Size: 13905sq ft
Lot Size: 2.82 acres

Map of 17071 Fort Street , Riverview, MI, 48193

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