Rite Aid-Xtra Large Lot/Well Below Rep Cost

Retail Property For Sale

Price:

$1,849,000

Building Size:

11,520 SF

Price/SF:

$160.50

Property Type:

Retail

Property Sub-type:

Free Standing Bldg

Property Use Type:

Net Lease Investment with

2 years left on lease

Commission Split:

1.5%

Cap Rate:

11.09%

Occupancy:

100%

Tenancy:

Single

Lot Size:

1.23 AC

Listing ID

19006423

Last Updated

2 days ago

Highlights

• Tenant at this same location since 1990 and exercised first option already.
• Strong store sales: 2013 = $3.4+ mil
• Signalized corner location
• Tenant respon for expenses incl roof. LL minimal responsbilities (see Lease for details).
• 3 street frontage w/ approx. 40,000 veh/day
• Extra large lot (potential to build add'l 6,000 sf building).

Description

Single tenant net leased building on hard corner with traffic light. Tenant has been in place since 1990 and exercised 1st option early showing tenants commitment to the location.

BONUS, extra large lot. Former 6,000 sf auto parts store. May be buildable subject to tenant's approval.

High density Detroit MSA with population of 443,000+ within 5 miles.Detroit is the most populous city in the U.S. state of Michigan, and is the seat of Wayne County, the most populous county in the state and the largest city on the United States-Canada border. It is a primary business, cultural, financial and transportation center in the Metro Detroit area, a region of 5.2 million people, and serves as a major port on the Detroit River connecting the Great Lakes system to the Saint Lawrence Seaway.