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
Multi-Tenant
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$5,500,000 | 45,390 SF
Ann Arbor, Michigan
$5,500,000 | 45,390 SF
Single-Tenant
17115-17117 N. Laurel Park Dr
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Cooper’s Hawk Winery & Restaurant: $4,500,000
The Capital Grille: $5,800,000 | Cooper’s Hawk Winery & Restaurant: 11,046 SF
The Capital Grille: 9,079 SF
Livonia, Michigan
Cooper’s Hawk Winery & Restaurant: $4,500,000
The Capital Grille: $5,800,000 | Cooper’s Hawk Winery & Restaurant: 11,046 SF
The Capital Grille: 9,079 SF
Multi-Tenant
6029-6035 E Virginia Beach Blvd
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$2,037,959 | 16,325 SF
Norfolk, Virginia
$2,037,959 | 16,325 SF