Listing Summary
Single-tenant Walgreens for sale in Owosso, MI for $3,987,000. Features an absolute NNN lease, 7.75% cap rate, $309k NOI, and a drive-thru on 1.77 acres.
Full Description
Absolute NNN Walgreens Investment Property | 7.75% Cap Rate | Owosso, MI
An exceptional net-leased commercial acquisition opportunity is now available in Owosso, Michigan, priced at $3,987,000. Offered at an attractive 7.75% capitalization rate with an annual net operating income (NOI) of $309,000, this 14,820-square-foot Class B retail drug store represents a high-yielding, zero-management asset. Built in 2008 and situated on a generous 1.77-acre parcel, the property is 100% occupied by Walgreens on an absolute NNN lease backed by a strong corporate guarantee from Walgreens Boots Alliance, an industry-leading Fortune 500 company.
Investment & Property Snapshot
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Offering Price: $3,987,000
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Cap Rate: 7.75%
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Net Operating Income (NOI): $309,000
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Price Per Square Foot: ~$269.03/SF
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Tenant: Walgreens Boots Alliance (Corporate Guarantee)
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Property Subtype: Drug Store / Single-Tenant NNN
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Lease Structure: Absolute NNN (Zero Landlord Responsibilities)
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Building Size: 14,820 SF
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Year Built: 2008
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Lot Size: 1.77 AC (77,101 SF)
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Zoning: B2 - Planned Shopping Center District
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Building Class: Class B
Key Investment Highlights
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Corporate Fortune 500 Guarantee: Guaranteed by Walgreens Boots Alliance, an essential investment-grade operator with over 8,500 stores nationwide.
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100% Passive Absolute NNN Structure: Zero landlord responsibilities for maintenance, roof, structure, or operating costs, making it an ideal acquisition for hands-off 1031-exchange investors.
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High-Yield Return: Generates an attractive $309,000 in steady annual cash flow at a competitive 7.75% cap rate.
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Modern Purpose-Built Construction: Built in 2008 with a drive-thru, high-visibility pylon signage, 24-hour access capabilities, full air conditioning, and a functional single-tenant retail layout.
Strategic Owosso, MI Location & Trade Area Located at a high-traffic signalized intersection in Shiawassee County, this property benefits from outstanding freeway visibility, prominent pylon signage, and seamless access for local and regional shoppers. Positioned in Owosso’s primary commercial district with B2 zoning, the store serves a reliable local population while taking advantage of neighboring cultural traffic drivers, including Curwood Castle, the Steam Railroading Institute, and the Shiawassee Arts Center. Surrounded by complementary retail and dining options, the site provides excellent long-term real estate stability.
Quick Glance
- Listing ID:
CL-Michigan-28419
- Status:
Active
- Year Build:
2008
- Building Size:
16,426 SqFt
- Lot Size:
1.77 Acr
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