Retail Business for Sale in Kalamazoo, MI

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Kalamazoo, MI 49007

Description

Marcus and Millichap is pleased to present Walgreens, an absolute net lease investment located at 760 West Michigan Avenue in downtown Kalamazoo, Michigan, along a high traffic corridor with approximately 20,707 vehicles per day on West Michigan Avenue and 15,397 vehicles per day on nearby West Main Street. The 14,550 square foot building sits on approximately 1.49 acres and benefits from strong frontage, visibility, and convenient access near the I 94 Business Loop. Walgreens operates under an absolute net lease with a corporate guarantee and approximately eight years remaining on the lease term, providing investors with stable passive income and no landlord responsibilities. The store features a convenient drive thru and offers beer and wine sales, further enhancing daily traffic and reinforcing its role as a necessity based retail destination serving both residents and commuters. Kalamazoo is the largest city in Southwest Michigan and a well established college town positioned between Chicago and Detroit, benefiting from strong regional connectivity and access to major Midwest markets. The property is supported by strong surrounding demographics with 144,151 residents and an average household income of $82,766, reinforcing sustained consumer demand within this dense urban trade area. The local economy is anchored by higher education and healthcare, with Western Michigan University enrolling approximately 16,343 students and major medical institutions including Bronson Methodist Hospital and Beacon Kalamazoo Hospital supporting a stable employment base and consistent demand for nearby retail and service uses. The property is located approximately 1.5 miles from Western Michigan University’s main campus and roughly one mile from Kalamazoo College, placing it near two of the region’s most influential institutional anchors. Together, these universities drive a younger median age, strong daytime population, and year round consumer traffic throughout the downtown core.

Market Context

This retail in Kalamazoo, MI is listed for sale. It is offered at an approximate 8.7% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 68 days. Compare it against other retail listings for sale in Kalamazoo, MI — <a href="/search/sale/retail/michigan/kalamazoo">view the full market</a>.

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