6421 W Saginaw Hwy
Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in an absolute net leased Walgreens Drug Store in Lansing, Michigan. The lease has over nine years of firm term remaining, protects the landlord from all maintenance responsibilities and is backed by investment grade credit. With currently available financing options, at list price, the investment produces positive leverage and will cash flow at over 6% on a cash on cash basis.
Positioned at a hard corner, signalized intersection, this Walgreens has exposure to over 40,000 vehicles per day. Across the street is a Kroger and Kohl's retail center, and a number of other dominant national tenants are located within a mile of the subject property, including Walmart, Menard's, Target, Lowe's and ALDI. The exit and on ramp of I-96 and I-69 (combined 60,000 vehicles per day) is located a mile west of this location.