Dark Walgreens | Corporate Guarantee

Investment Highlights

• Guaranteed Walgreens Rent Through 2032: Corporate tenant owes roughly $1.93 million in remaining contractual rent through Feb. 2032.
• Premier Alma Retail Corridor Location: Neighbors include Walmart, Meijer, Harbor Freight, Starbucks, Dollar Tree and Tractor Supply.
• High-Visibility Signalized Hard Corner: 14,820 SF freestanding building sits on 1.89 acres at a lighted intersection with strong access.
• Multiple Value-Creation Exit Strategies: Investors may hold for income, negotiate buyout, or reposition for redevelopment or re-tenanting.
• Anchored by College and Medical Center: Alma College and the 86-bed MyMichigan Medical Center drive steady daytime demand nearby.

 

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.

Location Prose

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.

Location Stats

15,433 CPD : Daily traffic count on Wright Ave

21,542 : Population within a 5-mile radius

$81,699 : Average household income, 5-mile radius