Walgreens

1007 Memorial Rd, Houghton, MI 49931

  • For Sale $4,827,586
  • Property Type Retail - Street Retail
  • Property Size 14,550 SF
  • Lot Size 1.44 Acre
  • Property Tenancy Single Tenant
  • Year Built 2015
  • Date Updated Jan 23, 2025
Houghton is the largest city and county seat in Houghton County in the state of Michigan, in the U.S. Located on the Keweenaw Peninsula, Houghton is the largest city in the Copper Country region. It is the fifth-largest city in the Upper Peninsula, with a population of 8,386 at the 2020 census. Houghton is the principal city of the Houghton micropolitan area, which includes all of Houghton and Keweenaw counties. Houghton lies upon the Keweenaw Waterway, a partly natural, partly artificial waterway connecting at both ends to Lake Superior. Across the waterway from Houghton lies the city of Hancock. The city of Houghton was named after Douglass Houghton, an American geologist, and physician primarily known for his exploration of the Keweenaw Peninsula. Houghton is home to Michigan Technological University, a public research university founded in 1885. Michigan Tech hosts a yearly Winter Carnival in February, drawing thousands of worldwide visitors. Michigan Tech's athletic teams are nicknamed the Huskies and compete primarily in the NCAA Division II Great Lakes Intercollegiate Athletic Conference (GLIAC). The Michigan Tech Huskies men's ice hockey team competes in the NCAA Division I Central Collegiate Hockey Association (CCHA) and has won three national championships in 1962, 1965, and 1975. Houghton County is part of the Houghton Micropolitan Statistical Area, which includes Keweenaw County, and was part of Copper Country during the mining boom of the latter half of the 19th century and the early 20th century. 1843, the Upper Peninsula was divided into Mackinac, Chippewa, Marquette, Schoolcraft, Delta, and Ontonagon Counties. 1845 Houghton County boundaries were defined, with areas partitioned from Marquette and Ontonagon Counties. The new county was named after Douglass Houghton, the new state's first State Geologist, who extensively explored the Upper Peninsula's mineralogy. The original boundaries of Houghton County included the future Keweenaw and Baraga Counties.[8] In 1846, the county was organized into three townships: Eagle Harbor, Houghton, and L'Anse.[8] Keweenaw County was set off from Houghton County in 1861, and Baraga County was set off in 1875.
Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Highlights

  • Absolute Net Lease | Zero Landlord Responsibilities | Passive Investment
  • 10+ Years Remaining on Original 20-Year Lease W/ 11, 5-Year Options
  • Prototypical Free-Standing Walgreens W/ Drive-Thru On 1.44 Acres
  • Close Proximity to Michigan Technological University (2.1 Miles Away) - Over 7,300 Students
  • Corporate Guarantee | 6.2% Revenue Growth for Fiscal Year Ending 8/31/24 Reaching $147.7 Billion
  • Above Average Store Sales (Inquire W/ Agent for More Details)
  • Excellent Visibility Along W Memorial Drive With 21,888 VPD+
  • 5-Mile Population: 20,064 | 1-Mile Household Income Exceeds $90,493
  • Limited Drug-Store Competition - Only Walgreens/CVS In a 50-Mile Radius
  • Surrounded by Major Retailers: Walmart, Tractor Supply Co, Harbor Freight, Dollar Tree, Applebee's, O'Reilly Auto Parts, Advance Auto Parts, Pizza Hut, Dairy Queen, Culver's, Goodwill, Burger King, Taco Bell, McDonald's and Many More

Contacts

broker

Encore Real Estate Investment Services

Location

Getting Around

  • Walk Score ®

    46/100 Car-Dependent
  • Bike Score ®

    55/100 Bikeable
Powered by Walk Score ®
  • City Houghton, MI
  • Zip Code 49931

Points of Interest

  • Shell

    0.14 miles

  • Murphy USA

    0.27 miles

  • Mobil

    0.67 miles

  • Freedom Station Store

    0.93 miles

  • Krist

    1.01 miles

  • Holiday

    1.07 miles

  • BP

    1.12 miles

  • Visitor Parking

    1.82 miles

  • Parking Meters

    1.87 miles

  • Maasto Hiihto Trailhead Parking

    2.40 miles

  • Churning Rapids Trailhead parking

    4.55 miles

  • Houghton-Douglass Falls Parking

    9.88 miles

  • Pizza Hut

    0.06 miles

  • Taco Bell

    0.08 miles

  • Dairy Queen

    0.09 miles

  • Culver's

    0.09 miles

  • Burger King

    0.10 miles

  • Border Grill

    0.13 miles

  • KFC

    0.13 miles

  • McDonald's

    0.15 miles

  • Subway

    0.16 miles

  • Ming's Asian Bistro

    0.17 miles

  • Tadych's Marketplace Foods

    0.21 miles

  • Walmart Supercenter

    0.38 miles

  • Portage Plaza

    0.52 miles

  • Festival Foods

    0.57 miles

  • Copper Country Mall

    0.66 miles

  • Pat's Foods IGA

    1.36 miles

  • Keeweenaw Co-op Natural Food Store

    1.58 miles

  • Jim's Food Mart

    1.65 miles

  • Louie's Fresh Markets

    9.75 miles

Frequently Asked Questions

How much does Walgreens cost?

The space currently listed for sale at Walgreens asks for $4,827,586.

What is the total square footage of Walgreens?

Walgreens totals 14,550 square feet.

When was this property built?

Walgreens was built in 2015.

Looking for more in-depth information on this property?

Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.

Contact Listing Broker
broker

Encore Real Estate Investment Services

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.