Relocation Site Newer Prototype Store 760 W Michigan Ave 14,550 SF Retail Building Kalamazoo, MI 49007 $5,816,333 CAD ($399.75 CAD/SF) 9% Cap Rate

We are pleased to present the Walgreens property located at 760 W Michigan Ave, Kalamazoo, MI 49007 ('"The Property"') for sale. Walgreens relocated to this site in 2014, constructing a new prototype store in a high-barrier-to-entry market. The Property offers a firm lease term with approximately 9 years remaining and eleven (5-year) renewal options. Leased on an absolute triple-net (NNN) basis, this investment guarantees no landlord responsibilities, providing a truly passive ownership experience.
Strategically located in the heart of Kalamazoo, the Property is less than half a mile from one of the city’s most significant upcoming projects, the Kalamazoo Event Center. This $300 million development, which broke ground in November of 2024, will feature a 320,000-square-foot facility designed to host over 230 events annually, including sporting events, concerts, and community gatherings. Once completed, it is projected to attract 548,000 visitors per year and contribute approximately $54 million to the local economy. The event center will also serve as the future home for Western Michigan University’s hockey, men's and women's basketball teams, as well as the Kalamazoo Wings hockey team, making it a major attraction for both residents and visitors.
The Property is located at the intersection of Michigan Avenue and Main Street, off two major thoroughfares with ±42,000 vehicles passing daily. This high-traffic area provides direct access to Western Michigan University, which serves approximately ±22,500 students, and major employers such as Pfizer, a global pharmaceutical leader, Stryker, a Fortune 500 medical technology company, and Zoetis, the world’s largest producer of medicine and vaccinations for pets and livestock.
Listed in conjunction with Matthew Callander, Callander Commercial, 269.349.1000, mcallander@ccmichigan.com, MI DRE Lic. 6505341805