Iron Mountain, MI

• Over 14 years of lease term remaining with 10 (5 year) options to follow.
• National retailers TownPlace Suites by Marriott, Aldi, Neuens Auto and Kwik Trip are all expected to open new locations in Iron Mountain.
• Close proximity to major health providers such as Oscar G Johnson VA Medical Center and Marshfield Medical Center.
• Marshfield Medical Center’s Cancer Center expansion 1.4 miles SE of the Property is nearing completion later this year.
• Situated with frontage on US-141 (traffic counts of 20,000 VPD).
• Only national brand name drugstore in a 47-mile radius serving the entire Iron Mountain market.

We are pleased to market for sale the Walgreens property located at 300 East F Street in Iron Mountain, Michigan ("The Property"). Walgreens has been successfully operating at this location for 16 years and recently agreed to a new 15 year extension, demonstrating Walgreens commitment to the location. This investment opportunity allows investors to purchase a long term Walgreens on an absolute net lease with no landlord obligations whatsoever.

The Property benefits from extremely limited drugstore competition and is the only national chain drugstore in a 47 mile radius. Strategically located within a dense medical HUB, the Property serves as the only national pharmacy for multiple major hospital systems. Oscar G Johnson VA Medical Center (0.25 miles south) and Marshfield Medical Center (1.4 miles southeast) combine to employ over 1,400 full time health professionals and serve over 25 counties in Michigan and Wisconsin.

Located 1.4 miles southeast of the property, Marshfield Medical Center’s new Cancer Center project is slated to open in May of 2024 bringing new advanced Cancer treatment to the region including private infusion rooms, Hematology oncology and Radiation oncology.

The Iron Mountain community is undergoing rapid expansion, with multiple major projects in the works. TownPlace Suites by Marriott, 0.5 miles north of the Property, finished construction on a new 95 room hotel in 2023 while other national retailers such as Aldi, Neuens Auto and Kwik Trip are all under construction and expected to open later this year.

Located adjacent to US-141 (S. Stevenson Ave) the Property is visible to over 20,000 vehicles per day and is situated in the main retail corridor for Iron Mountain with 966,000 square feet of retail space in the immediate 1-mile radius as well as approximately 3.8 million square feet of industrial space within a 6-mile radius.

Listed in association with Brian Brockman, Bang Realty, 513.898.1551, [email protected], MI DRE Lic. #6502428679