2985 Crooks Rd - Drug Store FOR SALE


Rochester Hills, MI 48309- Rochester
$4,035,714 USD
847-562-0003
2985 Crooks Rd, Rochester Hills, MI for Sale
$4,035,714 USD
Drug Store - FOR SALE
1/7
null | 8.4% Cap Rate

2985 Crooks Rd
Rochester Hills, MI 48309
Rochester


HIGHLIGHTS

  • Positioned within the Detroit MSA
  • Lease extended through July 2035
  • NNN – No landlord responsibilities
  • Signalized intersection with 52,000 vehicles per day
  • Minutes from State Highway 59 (103,000 VPD)
  • Over 185,000 people live within five miles of the property

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property located within the Detroit MSA in Rochester Hills, Michigan. Walgreens has been successfully operating at this location since 2005 and recently extended the lease through July 2035, demonstrating commitment. Walgreens has nine 5-year renewal options remaining. The lease is absolute triple net and features no landlord responsibilities. The 14,820 square-foot building is positioned at a signalized intersection with 52,000 vehicles per day, enhanced by its proximity to State Highway 59 (103,000 VPD). The surrounding affluent community boasts an average household income exceeding $150,000, with a population of 185,000 within a five-mile radius. The property is minutes from major employers, including Stellantis North America (Headquarters), Volkswagen Group, FANUC America, and BorgWarner. It is also less than five miles from Oakland University (15,000 students) and Oakland Community College (13,000 students). Nearby retailers include Target, Meijer, Lowe’s, Walmart, Kroger, Tractor Supply Company, Kohl’s, Petco, T.J. Maxx, Bath & Body Works, Old Navy, and Harbor Freight. Walgreens is a leading American retail pharmacy chain founded in 1901 by Charles R. Walgreen in Chicago, Illinois, where it continues to maintain its headquarters. Operating nearly 8,500 stores across the United States, Walgreens serves approximately 9 million customers and patients daily, offering prescription medications, health and wellness products, and general merchandise. The company has a storied history of nearly 125 years, evolving from a single drugstore to a cornerstone of American healthcare and retail. On August 28, 2025, Walgreens Boots Alliance, Inc. was acquired by New York-based private equity firm Sycamore Partners in a $10 billion deal.

FOR SALE DETAILS

PRICE

$4,035,714 USD

PRICE/SF

$272 USD /SF

CAP RATE

8.4%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

53

LAND DETAILS

LAND ACRES

1.91 AC

LAND SF

83,200 SF

ZONING

BI

APN/PARCEL ID

15-28-353-001

ASK ABOUT THIS PROPERTY

Randy BlanksteinThe Boulder GroupMore Info
847-562-0003

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Randy BlanksteinThe Boulder GroupMore Info
847-562-0003

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