Description

Walgreens at 1001 East M-21 offers a fully occupied, single-tenant retail investment in Owosso, Michigan. The 14,820-square-foot freestanding store occupies 1.77 acres and is offered at $3,987,000, reflecting a 7.75% capitalization rate on reported annual NOI of $309,000.

Built in 2008, the property is leased to Walgreens under an absolute net structure through October 31, 2037. The corporate-backed lease places responsibility for roof, parking lot, HVAC, common-area maintenance, taxes and insurance with the tenant, providing a clearly defined ownership structure and limited landlord obligations.

The property is positioned along the M-21 commercial corridor with prominent building identity and convenient access. Nearby retailers include Walmart, Kroger, ALDI and Tractor Supply Co., reinforcing the site’s established shopping-area location.

The combination of long-term tenancy, corporate guaranty, an absolute net lease and a freestanding corner-oriented site makes this offering suitable for investors seeking durable income from a nationally recognized pharmacy operator.