Offering Memorandum
Investment Sale
Walgreens
1007 Memorial Rd
Houghton, Michigan
Houghton, Michigan
eCode:054i
Sales Price
$4,117,647
NOI
$350,000
Cap Rate
8.50%
Building Size
14,550 SF
Lot Size
1.44 AC
Year Built
2015
Traffic Count
Memorial Dr (13,203 CPD)
Sharon Ave (5,662 CPD)
Highlights
- Only National Pharmacy Chain in 100-Mile Radius
- Strong Store Sales – Over $7M Reported Annually
- Excellent Rent/Sales Ratio
- 9+ Years of Primary Term Remaining
- 2015 Construction
- Hard Corner Location / High Visibility
| Radius | 1 mile | 3 mile | 5 mile |
| Population Density | 3,026 | 15,742 | 19,872 |
| Household Income | $97,883 | $87,014 | $90,761 |
| Daytime Pop | 2,342 | 6,878 | 7,088 |
SIMILAR PROPERTIES
Single-Tenant
39700 MacKenzie Dr
Novi, Michigan
Unpriced | 56,429 SF
Novi, Michigan
Unpriced | 56,429 SF
