31415 Ford Rd - Drug Store FOR SALE


Garden City, MI 48135
$5,288,889 USD
781-776-4003
31415 Ford Rd, Garden City, MI for Sale
$5,288,889 USD
Drug Store - FOR SALE
1/6
null | 9% Cap Rate

31415 Ford Rd
Garden City, MI 48135


HIGHLIGHTS

  • LONG TERM LEASE
  • ZERO MANAGEMENT RESPONSIBILITIES
  • INVESTMENT GRADE CREDIT
  • STRATEGIC LOCATION
  • OUTSTANDING TRAFFIC COUNTS
  • STRONG DEMOGRAPHICS

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the single-tenant, Absolute NNN leased, Walgreens located at 31415 Ford Road in Garden City, Michigan (Detroit MSA) (the “Property). Walgreens has been at the Property since its construction in 2005 and has 3+ years remaining on an absolute triple-net lease with ten (10), 5-year renewal options. The Property is situated at the signalized intersection of Merriman Road and Ford Road (MI Route 153), the area’s primary commercial and commuter corridor connecting downtown Detroit (14 miles to the east) and Ann Arbor (18 miles to the west). The Property benefits from excellent visibility and frontage as well as two points of access. The Property is located in the center of a strong trade area with numerous national and local retailers and restaurants, businesses, and several area schools that drive traffic to the area. The trade area is surrounded by densely populated residential neighborhoods, providing a strong consumer base. Garden City is 10 miles west of Detroit and is part of the Detroit MSA.

FOR SALE DETAILS

PRICE

$5,288,889 USD

PRICE/SF

$363 USD /SF

CAP RATE

9%

% 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

23

LAND DETAILS

LAND ACRES

1.62 AC

LAND SF

70,567 SF

ZONING

CR

APN/PARCEL ID

35-020-01-0768-300

ASK ABOUT THIS PROPERTY

Robert HorvathHorvath & TremblayMore Info
781-776-4003

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

Robert HorvathHorvath & TremblayMore Info
781-776-4003

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