13601 W Warren Ave - Drug Store FOR SALE


Dearborn, MI 48126
$5,307,525 USD
619-297-0055
13601 W Warren Ave, Dearborn, MI for Sale
$5,307,525 USD
Drug Store - FOR SALE
1/2
null | 8% Cap Rate

13601 W Warren Ave
Dearborn, MI 48126


HIGHLIGHTS

  • Absolute NNN lease with zero landlord obligations whatsoever and has 5% rental increases every 5 years throughout the first four option periods.
  • According to Placer.ai, this location ranks in the top 10% in customer visits for all Walgreens locations in Michigan.
  • 4 miles NE of Ford's Global Headquarters which includes their new, 2.1 million square foot building (14,000 employees).
  • 154,000 residents, and 51,000 households within a 3-mile radius of the property.
  • Located on the signalized hard-corner of Schaefer Rd & Warren Ave, (46K total VPD). Close proximity to the I-94 (131K VPD).

OVERVIEW

We are pleased to market for sale the Walgreens property located at 13601 West Warren Avenue, Dearborn, Michigan 48126 (the "Property"). Walgreens has just over three and a half years of guaranteed lease term before the option periods. This lease calls for 5% rental increases every five years with the next rental increase coming in May of 2029. According to Placer.ai, this Walgreens is one of the highest trafficked locations in Michigan, ranking in the 10% of all stores within the state. The subject property benefits from its position on the signalized hard corner of Schafer Road and Warren Avenue, with a combined daily traffic count of 46,091 vehicles per day. Additionally, this Walgreens is positioned in close proximity to the I-94 interstate which connects Dearborn to Detroit and sees over 131,000 vehicles per day. The surrounding area is densely populated with over 154,000 residents and 51,000 households within a 3-mile radius. Ford Global Headquarters is located about 4 miles southwest and includes a new 2.1 million square foot building which will be home to 14,000 employees. Listed in association with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, MI DRE Lic. #6502428679.

FOR SALE DETAILS

PRICE

$5,307,525 USD

PRICE/SF

$384 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dense Residential Population | Detroit MSA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

69

LAND DETAILS

LAND ACRES

1.3 AC

LAND SF

56,628 SF

ZONING

BB

APN/PARCEL ID

32-10-072-06-019

ASK ABOUT THIS PROPERTY

Chris BarryPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Chris BarryPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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