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Walgreens 1007 Memorial Rd 14,550 SF Retail Building Houghton, MI 49931 $5,698,823 CAD ($391.67 CAD/SF) 8.50% Cap Rate
Investment Highlights
- Only National Pharmacy Chain in 100-Mile Radius
- Excellent Rent/Sales Ratio
- 2015 Construction
- Strong Store Sales – Over $7M Reported Annually
- 9+ Years of Primary Term Remaining
- Hard Corner Location / High Visibility
Executive Summary
Landmark Investment Sales is pleased to exclusively present the single-tenant, net-leased Walgreens located in Houghton, Michigan. This asset represents a rare opportunity to acquire the only national pharmacy within a 100-mile radius and serves as the primary healthcare and retail destination for the Keweenaw Peninsula and Northwest Upper Peninsula. Positioned on a high-visibility hard corner, the 2015-constructed property benefits from over nine years remaining on the primary lease term and reports strong store sales, reinforcing its dominance in a market with no direct national pharmacy competition. Offered at an attractive price point, this investment combines strong real estate fundamentals, a mission-critical location, and long-term, corporate-backed income.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,550 SF
Building Class
B
Year Built
2015
Price
$5,698,823 CAD
Price Per SF
$391.67 CAD
Cap Rate
8.50%
NOI
$484,400 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.44 AC
Zoning
B-3 - Business use
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- -
-
Lorem Ipsum
-
Jan 0000
Walgreens began in Chicago in 1901, after pharmacist Charles R. Walgreen Sr. purchased the drugstore where a pharmacy career began. The company grew from a neighborhood drugstore into a broad retail health business offering prescription services, health and wellness products, photo services, home delivery, specialty pharmacy, and virtual healthcare. Walgreens serves customers through a wide network of community pharmacies and digital platforms, with a focus on accessible medicine, everyday essentials, and healthcare support.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | - | Lorem Ipsum | Jan 0000 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $1,630,528 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,630,528 CAD
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Walgreens | 1007 Memorial Rd
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