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Walgreens

1601 Kalamazoo Ave SE , Grand Rapids, MI 49507

  • For Sale $1,950,000
  • Property Type Retail - Freestanding
  • Property Size 12,000 SF
  • Lot Size 1 Acre
  • Property Tenancy Single Tenant
  • Year Built 1990
  • Date Updated May 16, 2022
Known for furniture making, the Grand Rapids metro is diversifying and now supports one of the fastest-growing economies in the nation while simultaneously ranking high on some “best places to live” lists. The market is home to roughly 1.1 million people, with a growth of 40,000 residents expected over the next five years. The metro consists of Barry, Kent, Montcalm, and Ottawa counties. It is roughly 160 miles west of Detroit, and Lake Michigan provides the western border. Grand Rapids is the second-largest city in Michigan and the largest city in West Michigan. It is on the Grand River about 30 miles east of Lake Michigan. As of the 2017 census, the city population was 198,000 +. In 2010, the Grand Rapids metropolitan area had a population of 1,005,648, and the combined statistical area of Grand Rapids-Muskegon-Holland had a population of 1,321,557. Grand Rapids is the county seat of Kent County.
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Location

  • City Grand Rapids, MI
  • Neighborhood Oakdale
  • Zip Code 49507
  • Market Grand Rapids

Contacts

Deno Bistolarides

Encore Real Estate Investment Services

(248) 702-0288

Highlights

  • Double Net Lease - Minimal Landlord Responsibilities
  • Extremely Low Cost of Occupancy - Rent of $9.75 Per Square Foot - Very Replaceable Rents
  • Low Price Point Pharmacy Deal
  • Tenant Recently Extended the Lease for a 5 Year Term - Strong Indication of Commitment to the Location
  • Proven Location for Walgreens - Tenant Since 1992 - 30 Years of Occupancy
  • Lease is Corporately Guaranteed by Walgreens Corp.| S&P “BBB”
  • Densely Populated Grand Rapids Neighborhood - Population Within a 5 Mile Radius Approaching 300KStrong Location in Grand Rapids - Michigan's Premier Market

Frequently Asked Questions

What is the total square footage of Walgreens?

Walgreens totals 12,000 square feet.

When was this property built?

Walgreens was built in 1990.

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Contact Listing Broker

Deno Bistolarides

Encore Real Estate Investment Services

(248) 702-0288

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