34899 Groesbeck Hwy - Drug Store FOR SALE


Clinton Township, MI 48035
$2,376,000 USD
925-231-1770
34899 Groesbeck Hwy, Clinton Township, MI for Sale
$2,376,000 USD
Drug Store - FOR SALE
1/6
null | 7% Cap Rate

34899 Groesbeck Hwy
Clinton Township, MI 48035


HIGHLIGHTS

  • Net Leased Offering
  • Rental Increases of 2.5% in 2029 & 2034 and Thereafter 5% Increases
  • High Performing Location - Massive Sales
  • New Roof Replaced in 2019
  • Corporate Guarantee - NASDAQ:WBA
  • Desirable Demographics - 103,152 Residents within a 3-Mile Radius

OVERVIEW

This is the opportunity to purchase a net leased Walgreens in Clinton Township, Michigan. The property is 15,120 square feet and has a long operating history of over 20 years at this location. The property consists of 15,120 square feet and a received new roof in 2019. The lease expires in 2037 with a 2.5% rental increase in 2029 and 2034 and thereafter 5% increases every 5 years with five, 5-year renewal options. This Walgreens boast high performance and has massive sales. The asset benefits from its hard corner location on a major commercial thoroughfare with exposure to 30,448 vehicles per day and also strong demographics in the area. The property neighbors Burger King, Wendy's, Captain D's, Taco Bell, KFC, Tim Horton's, 7-Eleven and more.

FOR SALE DETAILS

PRICE

$2,376,000 USD

PRICE/SF

$157 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Net Leased Walgreens Offering

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2002

SPRINKLERS

-

PARKING SPACES

80

LAND DETAILS

LAND ACRES

1.98 AC

LAND SF

86,249 SF

ZONING

RETAIL 5K

APN/PARCEL ID

16-11-33-102-028

ASK ABOUT THIS PROPERTY

Jacob AbusharkhThe Kase GroupMore Info
925-231-1770

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Jacob AbusharkhThe Kase GroupMore Info
925-231-1770

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.