Walgreens

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Walgreens

378 Baldwin St Jenison MI Ottawa County

Sales Price: $6,257,250

Cap Rate: 5.60%

Contact Person(s): Daniel Kukes
Maxwell Lippitt
Jason Greenspan

Description:

STRONG PERFORMING LOCATION:

  • Reported unit-level sales are higher than the Midwest average
  • Sales reporting annual growth
  • Reported sales figures available upon request from broker
  • Walgreens is reporting historically strong sales at this location and has been operating at this location since 1999

CORPORATE GUARANTEE BY WALGREENS COMPANY (NASDAQ: WBA):

  • S&P Rated “BBB”
  • 2021 Revenue: $132.51 Billion, 2021 Net Income $1.99B – a 8.63% increase over 2020

SIX MILES FROM DOWNTOWN GRAND RAPIDS:

  • The second largest city in Michigan with an estimated population of 1,087,592
  • Grand Rapids has recently been ranked the 7th fastest growing economy in the U.S based on Gross Regional Product over the last five years
  • In the same study by Headlight Data, Grand Rapids ranked 2nd only to Las Vegas in most improved growth over the same period

Building Size: 13,905 SF

Lot Size: 1.67 AC

Traffic Count: Baldwin St (22,039 VPD)
Cottonwood Drive (15,407 VPD)

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 5,365 49,039 125,491
Avg. HH Income: $65,298 $89,392 $84,115
Daytime Population: 3,965 23,685 42,245

LANDMARK INVESTMENT SALES – Licensed Real Estate Brokers. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs.