- Absolute Net Lease with ±8.5 years remaining.
- Across from a Rite Aid and there is no other stand-alone national brand drugstore for 11 miles.
- MyMichigan Medical Center with 96 Beds is located across the street.
- Three senior housing communities within one mile of Walgreens.
Pharma Property Group is please to present the opportunity to purchase a Walgreens in Alma, Michigan. Income guaranteed by Walgreens Corporation with over 8,900 locations. The lease has ±8.5 years of lease term remaining on an absolute net lease basis with no landlord responsibilities.
Walgreens is located across from Rite Aid, making this a strategic location for both Walgreens and Rite Aid. The closest stand-alone national brand drugstore is a Rite Aid that is 11 miles south of the subject property and the next closest Walgreens is located over 14 miles to the northwest. Walgreens is located across the street from MyMichigan Medical Center Alma which is a 96-bed hospital that includes cancer care, maternity services, surgical services, an emergency department and more. There are more than 1,000 staff members that are employed at this hospital. In addition to the strong hospital and senior care presence, there are more than 20 medical offices that include urgent care, occupational care, primary care, cardiovascular care and several private practices.
There are three senior housing communities within a one-mile radius of this Walgreens store. Masonic Pathways is .5 miles south of the subject and is home to over 400 senior residents. Arbor Grove Assisted Living has ±50 units and is .7 miles from the subject and Scottish Pines Senior Apartments is .5 miles east and has ±25 units. There is approximately 865,000 square feet of retail space within one mile of this Walgreens drugstore. The subject property is located on Wright Avenue, the busiest retail corridor in Alma and includes national tenants like Walmart Supercenter, Meijer Grocery, Tractor Supply, ACE Hardware, Rite Aid and McDonald's.