- In the past 5 years, 691 multi-family units, including the 331-unit 'Fitzroy Promenade', have been built in the immediate 2- mile radius. In addition, the 34-acre 'Crossroads at Chenal' mixed-use development is set to be completed this year.
- There is 2.7 million square feet of retail space in a 2-mile radius. Located 1 mile north of the subject property is the Promenade at Chenal, a 306,000 sf open-air lifestyle center which is home to popular retailers such as Apple, Lululemon, DSW, and Homegoods.
- Frontage on Chenal Parkway (39,000 VPD) and Wellington Hills Road (5,905 VPD).
- Subject property is located in a dense affluent area with average household income of over $121,000 and a population of more than 45,000 residents in a 3-mile radius.
- Within a 4-mile radius there are three major hospitals with a combined bed count of over 1,066 beds.
Available properties
- Listed by Brian Brockman, Bang Realty - Inc, 513-898-1551, wg@bangrealty.com, VA DRE Lic. 225245999.
- New 15-year lease signed, including 5% rent increases during 8 (5-year) option periods.
- Placer.Ai ranks this location #1 out of 5 Walgreens stores within a 10-mile radius.
- Located in a dense retail corridor with 4.7 million square feet of retail space within two miles.
- Benefits from a regional military presence of ±82,000 active-duty personnel from 15 installations, including ±23,000 employees at Joint Base Langley-Eustis.
- CVS guarantees the rental income which has 5% increases in the options and does not include a rent holiday.
- In 2020, after operating at the location for 14 years, CVS agreed to extend the lease to a rare 20 year firm term before the options showing the strong performance and commitment to the location.
- New developments include over 110,000 square feet of medical space as well as 'Orland Ridge', a brand new 300+ home community located directly across the street.
- Frontage on La Grange Road (38,700 VPD) and 171st Street (14,300 VPD) and with direct access to Interstate 80 (102,900 VPD).
- ±172,000 residents in a 5-Mile radius with an Average Household Income of ±$130,000 within 1-Mile.
- Rite Aid is currently paying $9.45 /sf in rental rate, which aligns with the local retail rent of $9.50/sf.
- The subject property supports a rent-to-sales ratio of 1.35%.
- Rite Aid restructured its lease, effective November 1, 2023, to remain open and operational throughout the Chapter 11 proceedings.
- Rite Aid has two 5-year options to extend their lease, each with 10% rental increases.
- Rite Aid has operated successfully at this location since 1988, marking over 36 years of continuous operation.
- Signalized corner in the heart of Clio at the cross-section of West Vienna Street (16,199 VPD) and South Mills Street (4,595 VPD).
- 1.5 miles from MI-75 interchange, connecting Canada to the North and Detroit to the South, with approximately 56,000 vehicles per day.
- Downtown Clio location with over 500,000 square feet of retail space within 1 mile of the Subject Property. Other national tenants in the surrounding area include Tim Horton’s, Chase Bank, Walmart Super Center, McDonald’s, Arby’s, Taco Bell, Applebee’s, and Menards.
- Located just 10 miles north of Flint, Michigan, along Interstate 75. Flint is the largest city in Genesee County, with a population of more than 79,000 residents.
- Existing double-lane drive-thru and 76 striped parking spots.
- Walgreens recently signed a new 15-year lease extension, demonstrating their long-term commitment to the site.
- Strong reported sales of ±$3 million
- The nearest Walgreens property is over 40 miles away, while the next nearest CVS store is more than 74 miles.
- The lease includes 5% rental increases every 5 years in the initial term and options.
- The subject property is 1-mile from Great Plains Regional Medical Center, a 24-hour trauma center serving the greater Western Oklahoma and the Eastern Texas Panhandle.
- Absolute net lease with no landlord responsibilities whatsoever.
- Approximately 12 years remaining on the absolute triple net (NNN) lease, ensuring a stable and passive income stream with no landlord responsibilities whatsoever.
- According to Placer.Ai this location is in the top 25% in customer visits nationwide and the #1 CVS in a 10-mile radius.
- Southern Middle School and Cornwall Terrace Elementary School, located across the street, combine for ±1,300 students.
- Over 57,000 residents within a 3-mile radius with an average household income exceeding $113,000, reflecting strong economic fundamentals.
- Sinking Spring Skilled Nursing Center and The Residence at Village Greens, both within 1 mile of the subject property, total over 345 beds.
- The property is located 3.6 miles from Tower Health/Reading Hospital, the region's largest medical provider with over 700 beds and more than 1,000 physicians and healthcare professionals.
- Seller to credit full 3-year rent credit at close of escrow.
- Walgreens is paying $12.22/SF which is significantly lower than the national average.
- Walgreens signed a 10-year lease extension in 2019 demonstrating their long-term commitment to the site.
- Located 2 miles East, Prospect Village is a new $375 million mixed-use project featuring retail, multi-family, hospitality, and sports complexes which will support the growth of the area.
- Freeman Hospital West (339 Beds), Freeman Hospital East (72 Beds), Landmark Hospital (28 Beds) and Mercy Hospital Joplin (191 Beds) are all located in a 3 Mile Radius of the Property.
- Located on the intersection of South Main Street and East 20th Street with over 27,000 VPD.
- Located less than half a mile from the Kalamazoo Event Center, a $300 million project which broke ground in November of 2024.
- Close proximity to WMU which consists of 22,500 students and employs 803 faculty as well as Kalamazoo College with 1,378 students.
- In 2014, Walgreens relocated to this site, building a new prototype store in a high-barrier-to-entry market to enhance visibility, with approximately 42,000 vehicles passing by daily.
- The Kalamazoo area serves as headquarters for Fortune 500 companies Stryker & Zoetis, with over ±1.2 million square feet in office/warehouse space. Additionally, Pfizer maintains a substantial presence in the region with their 1,300-acre manufacturing facility.
- Located less than two miles from the subject property, Bronson Methodist Hospital consists of 434 beds and operates on a 28-acre campus.
- Central Business District, which is located in Downtown Kalamazoo, is home to over 1,000 businesses in the surrounding area.
- Both the store and pharmacy are open 24 hours a day, with strong sales figures of ±$3.25 million being reported.
- Ranked in the top 10% of all Walgreens nationwide in customer visits, according to Placer.Ai.
- CVS is located directly adjacent to the subject property with the next nearest Walgreens over 11 miles to the east.
- Located two miles east of Jefferson Memorial Hospital.
- Oshkosh Corporation, a Fortune 500 company, has a 500,000 square foot facility in Jefferson City and employs approximately 300 employees.
- Walgreens benefits from being located in a 964,000 SF retail corridor with nearby national tenants such as Tractor Supply Co., CVS, Walmart Supercenter, Lowes, Dollar General, O'Reilly, Advance Auto Parts, and Food City.
- Cherokee Reservoir is located 2.5 miles to the north and attracts 1 to 2 million visitors annually.
