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2301 Ludington St
Escanaba, MI 49829
 Walgreens Escanaba, MI · Retail Property For Sale

Drug Stores Michigan Escanaba 2301 Ludington St, Escanaba, MI 49829

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INVESTMENT HIGHLIGHTS

  • NNN Lease with Renewal Options | 5.00% Escalations Every 5 Years
  • 2.1 MSF retail within a 3-mile radius | Walmart Supercenter, Menards, Meijer, ALDI, Anytime Fitness, Marshalls, Harbor Freight, etc.
  • Located at the Signalized Intersection of Ludington Street (10,244 VPD) and South Lincoln Road (16,236 VPD).
  • Delta County, Michigan Advantage (Population 36,605)

EXECUTIVE SUMMARY

The CBRE Net Lease Property Group is pleased to offer for sale the 15,268-square-foot Walgreens positioned on 1.22 acres in Escanaba, Michigan. The site is subject to a ±13.7-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
15,268 SF
Building Class
C
Year Built
2004
Price
$5,410,586 CAD
Price Per SF
$354.37 CAD
Cap Rate
6.50%
NOI
$351,688 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.29
Lot Size
1.22 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Parking
55 Spaces (3.6 Spaces per 1,000 SF Leased)
Frontage
160’ on Ludington Street

PROPERTY TAXES

Parcel Number 210511202825429006 Improvements Assessment $0 CAD
Land Assessment $0 CAD Total Assessment $1,559,155 CAD

PROPERTY TAXES

Parcel Number
210511202825429006
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,559,155 CAD
 

  • Listing ID: 35139742

  • Date on Market: 2025-03-14

  • Last Updated:

  • Address: 2301 Ludington St, Escanaba, MI 49829

The Retail Property at 2301 Ludington St, Escanaba, MI 49829 is currently available for Sale. Contact CBRE for more information.

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