Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    300 E F St Iron Mountain, MI 49801

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Walgreens NNN lease extended through 2038 with options.

    Property size:
    18,776 SF
    Lot size:
    1.85 Acres

    Property Features for 300 E F St

    General Information

    Standard status
    Active
    Size
    18,776 SF
    Lot size
    1.85 Acres

    Building Details

    Year built
    2008

    We can help!

    Listing Contact
    Thomas Carr
    Thomas Carr
    Source: Crexi

    Listing Agency: CBRE Atlanta Listing Agent: Thomas Carr

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

    Learn more

    Overview

    Walgreens NNN Lease Investment Opportunity

    This property, suitable for commercial real estate and retail purposes, is located at the hard corner, signalized intersection of East F Street and South Stephenson Avenue, which experiences a combined traffic volume of 25,644 vehicles per day. The property is situated approximately 88 miles north of Green Bay, WI. The absolute NNN lease with Walgreens, originally set to expire in 2034, has been extended through 2038 and now features approximately 12.3 years of primary term remaining, along with eleven 5-year options to renew. The property size is 18776 square feet.
    Location Intelligence

    Current Use by Public Records

    Walgreens Photo (Bike/Boat/Book/etc) Store FedEx OnSite Postal Service Walgreens Cosmetic Store LibertyX Bitcoin ATM Atm Walgreens Pharmacy Pharmacy

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Similar Places Nearby

    Iron Mountain VA Medical Center, Staley Barbara, Kari Waise, BS, Michael C. Nelson, RPH, Leonard A. Graham, RPH

    Location Insight

    • Map
    • Local Demand
    City
    Iron Mountain
    County
    Dickinson
    State
    Michigan
    Longitude
    -88.063663
    Latitude
    45.813726

    Nearby Similar for Sale

    • $425,000
      8,852 SF

      Versatile Commercial Property on Two Acres

      9,000+ sq ft commercial property with living quarters.
      5000 N Stephenson Ave, Iron Mountain, MI 49801
      View Details
    • New
      $329,500
      3,288 SF

      Iron Mountain Commercial Building For Sale

      3,288 SF commercial building with high traffic visibility.
      1605 N Stephenson Ave, Iron Mountain, MI 49801
      View Details
    • $519,900
      2,640 SF

      Updated Office Building on Corner

      High-visibility Iron Mountain office building with modern updates.
      126 Woodward Ave, Iron Mountain, MI 49801
      View Details
    • New
      $750,000
      6,328 SF

      Prime Commercial Space on 1.15 Acres

      High-visibility commercial/retail space in a thriving location.
      W8145 Us Highway 2, Iron Mountain, MI 49801
      View Details
    • $550,000
      4,680 SF

      Turnkey Restaurant and Bar Opportunity

      Established bar and restaurant in a high-traffic historic district.
      207 E Hughitt St, Iron Mountain, MI 49801
      View Details
    • $549,900
      21,600 SF

      Versatile Industrial Property in Iron Mountain

      21,000 sq. ft. industrial space suitable for diverse businesses.
      623 Circle Dr, Iron Mountain, MI 49801
      View Details
    • $329,900
      5,200 SF

      Versatile Commercial Complex in Iron Mountain

      Two-building commercial complex on 2.6 acres ready for operations.
      W7941 E Breitung Ave, Iron Mountain, MI 49801
      View Details
    • $324,900
      3,325 SF

      Versatile Commercial Building on Corner Lot

      Retail and storage space with expansion potential in Iron Mountain.
      101 W Highitt, Iron Mountain, MI 49801
      View Details
    • $495,000
      2,528 SF

      Commercial Building on US 2

      Commercial building and land for sale on busy US 2.
      1600 S Stephenson Ave, Iron Mountain, MI 49801
      View Details
    • $1,850,000
      3,519 SF

      Turnkey Auto Service Facility Business

      Modern, fully equipped auto service facility with additional income opportunities.
      1137 S Stephenson Ave, Iron Mountain, MI 49801
      View Details
    • $275,000
      2,190 SF

      Prime Retail/Commercial Space Available

      High-visibility retail/commercial space on a .92-acre lot.
      2045 S Stephenson Ave, Iron Mountain, MI 49801
      View Details
    • $259,900
      800 SF

      Iron Mountain Commercial Property For Sale

      Highly visible commercial property suitable for retail or service-based operation.
      1208 N Stephenson Ave, Iron Mountain, MI 49801
      View Details

    FAQs

    What type of property is this?
    Drug store - Walgreens NNN lease extended through 2038 with options.
    Where is this drug store located?
    The property is located at 300 E F St Iron Mountain, MI.
    What are key features of this property?
    This property features: - Absolute NNN lease extended through 2038 provides a long-term, hands-off investment.; - **\u00b112.3 years of primary lease term remaining offers stable, predictable income.**; - Located at a high-traffic, hard corner, signalized intersection (25,644 VPD) ensures excellent visibility.
    Request Owner's contact information
    300 E F St Iron Mountain, MI 49801
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    300 E F St
    Iron Mountain, MI 49801
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    300 E F St Iron Mountain, MI 49801
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Thomas Carr
    Thomas Carr
    Real Estate License ID: 374849
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!