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    918 Riverview Dr Kalamazoo, MI 49048

    For Sale
    $1,488,888

    Freestanding retail property with NN lease in place until 2025.

    Property size:
    14,378 SF
    Lot size:
    1.29 Acres

    Property Features for 918 Riverview Dr

    General Information

    Size
    14,378 SF
    Lot size
    1.29 Acres

    Source: Greysteel Agent Lance Ahmadian

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Former Walgreens Available for Sale

    This property presents an opportunity to acquire a freestanding former Walgreens. The property is located on a 1.44-acre lot at a signalized corner, benefiting from approximately 15,500 vehicles per day, which provides visibility and accessibility. Walgreens vacated the premises in March 2024, but their NN lease remains in effect until March 31, 2025, allowing a prospective buyer time to identify a new tenant. The property is suitable for retail use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Walgreens Photo Passport Photo Processor FedEx OnSite Mailing Service COVID-19 Drive-thru Testing ... Pharmacy Western Union Money Transfer Service Coinhub Bitcoin ATM ... Atm

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Dennis L. Knoll, RPh, Jason R. Stewart, PharmD, Rebecca S. Maynard, PharmD, Heather L. Vandenbussche, PHARMD, Hydr8 Organics

    Location Insight

    • Map
    • Local Demand
    City
    Kalamazoo
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.564304
    Latitude
    42.303361

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    FAQs

    What type of property is this?
    Drug store - Freestanding retail property with NN lease in place until 2025.
    Where is this drug store located?
    The property is located at 918 Riverview Dr Kalamazoo, MI.
    What is the asking price?
    The asking price for this property is $1,488,888.
    What are key features of this property?
    This property features: - NN Lease in place until March 31, 2025, providing income.; - Priced at $1,992,360 ($151/SF) with an **8% cap rate** on in-place income.; - Located on a 1.44-acre lot at a **signalized corner**.
    (703) 402-6292
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    918 Riverview Dr Kalamazoo, MI 49048
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    918 Riverview Dr Kalamazoo, MI 49048
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