For Auction
Asset Snapshot
Investment Highlights
Offering Summary
Brokered by Landmark Commercial Real Estate Services and powered by RealINSIGHT Marketplace, 1420 Wright Ave in Alma, Michigan is a 14,820 SF freestanding former Walgreens on 1.89 acres at a signalized hard corner. Although the store has closed, Walgreens remains contractually obligated to pay $29,166 in monthly rent ($350,000 annual NOI) through February 2032, representing approximately $1.93 million of remaining guaranteed corporate rent under a NNN lease. The vacant building gives an investor more than five years of stable, bondable cash flow while evaluating the asset's long-term use, with the added ability to negotiate an immediate lease buyout to accelerate redevelopment or owner-user conversion. The site sits along Alma's primary retail corridor on Wright Avenue (15,433 CPD), surrounded by national retailers including Walmart, Meijer, Harbor Freight, Starbucks, Dollar Tree, Taco Bell, McDonald's and Tractor Supply, and near Alma College and the 86-bed MyMichigan Medical Center. With Walgreens' continued corporate guaranty, a hard-corner infill location, and multiple paths to value creation, this offering appeals to investors seeking guaranteed income today and redevelopment upside tomorrow.
Due Diligence
Location
Located at 1420 Wright Ave on a signalized hard corner in Alma, Michigan, the site fronts the city's primary retail corridor, where Wright Avenue carries 15,433 cars daily. Walmart, Meijer, Harbor Freight and Tractor Supply anchor the corridor, while Alma College and the 86-bed MyMichigan Medical Center each sit less than two miles from the site, driving steady daytime traffic.
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Buyer pays a minimum platform fee of 5% or $25,000 at closing.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
