2240 Cedar St - Drug Store FOR SALE


Holt, MI 48842
$3,260,741 USD
404-441-3849
2240 Cedar St, Holt, MI for Sale
$3,260,741 USD
Drug Store - FOR SALE
1/11
null | 6.75% Cap Rate

2240 Cedar St
Holt, MI 48842


HIGHLIGHTS

  • Recently-Extended Absolute NNN Lease with Guaranty
  • Long-Term Operating History
  • Excellent Access & Visibility | Hard Corner Location
  • Across from Coffee Barrel, Quality Dairy Store, Village Inn Motel (30 rooms), and Midway Early Learning Center (±300 students)
  • 5.3 MSF of industrial, 9,282 multifamily units and 431 hotel rooms within a 3-mile radius
  • Surrounded by a dense concentration of residential with over 4,260 households and 1,841 multifamily units within a mile

OVERVIEW

This investment offering features a corporate-guaranteed CVS Pharmacy located in Holt, Michigan, just south of Lansing, backed by approximately 9.3 years remaining on an absolute NNN lease that extends through 2035. Supported by CVS Health Corporation—an investment-grade tenant (S&P: BBB) with 2025 revenues exceeding $402 billion—the asset features a 28-year operating history, a 6.72% rent escalation in its first renewal option, and nine 5-year extension terms. Positioned on a signalized hard corner at Cedar Street and Aurelius Road near I-96, the property benefits from a dense retail and commercial corridor anchored by 3.6 million square feet of retail space, major national brands like Target and Meijer, local schools, proximity to Michigan State University, and strong demographics with an average annual household income of $85,497 within a 3-mile radius.

FOR SALE DETAILS

PRICE

$3,260,741 USD

PRICE/SF

$295 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS: Holt, MI

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

1.95 AC

LAND SF

84,942 SF

ZONING

TC

APN/PARCEL ID

25-05-14-152-020

ASK ABOUT THIS PROPERTY

Christopher BosworthCBRE, Inc.More Info
404-441-3849

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Christopher BosworthCBRE, Inc.More Info
404-441-3849

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