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1277 M 89
Plainwell, MI 49080

Walgreens Grand Rapids MSA 6.15 CAP 7 Yrs · Retail Property For Sale

INVESTMENT HIGHLIGHTS

  • STABLE INCOME - Income guaranteed by Walgreens corporate (S&P BBB-) investment grade Top 20 Fortune 500 Company with over 9,200 locations.
  • 18 YEAR HISTORY OF OPERATIONS - This Walgreens has a 18 year history of operations at this location and sells beer and wine.
  • WITHIN 1 MI OF ASCENSION BORGESS-PIPP HOSPITAL - Located ±1mi west of Ascension Borgess-Pipp Hospital, a full-service care facility with 43 beds.
  • 7 YRS REMAINING ON ABSOLUTE NET LEASE - Lease has 7 yrs remaining on an absolute net lease with no landlord responsibilities and 10 (5-year) options.
  • ONLY NATIONAL BRAND DRUGSTORE IN PLAINWELL - Only stand alone national brand drugstore in Plainwell, next closest is over 10 miles away.
  • 33 MI S OF GRAND RAPIDS - Grand Rapids is the 2nd largest city in MI and has a population of over 1,000,000 residents.

PROPERTY FACTS

Property Type
Retail
Property Subtype
Drug Store
Building Size
14,900 SF
Building Class
C
Year Built
2003
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
2.11 AC
Zoning
Commercial - Commercial district zone
Parking
58 Spaces (4.1 Spaces per 1,000 SF Leased)
Frontage
200 FT on M-89

AMENITIES

  • Dedicated Turn Lane
  • Pylon Sign
  • Signage

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
17-024-071-00
Land Assessment
$288,800
Improvements Assessment
$637,000
Total Assessment
$925,800
  • Listing ID: 23630091

  • Date on Market: 7/8/2021

  • Last Updated:

  • Address: 1277 M 89, Plainwell, MI 49080

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