34899 Groesbeck Hwy, Clinton Township, MI 48035
15,120 SF | Retail Building | Clinton Township, MI 48035 | $2,376,000 ($157/SF) | 7% Cap Rate
For Sale
Active
17 pictures
Asking Price $2,376,000
- Property Type
-
Retail
- Square Feet
- 15,120 SF
- Price / Square Foot
- $157
Listing Contacts
- Property Info
Property Overview
This is the opportunity to purchase a net leased Walgreens in Clinton
Township, Michigan. The property is 15,120 square feet and has a long
operating history of over 20 years at this location. The property consists
of 15,120 square feet and a received new roof in 2019. The lease
expires in 2037 with a 2.5% rental increase in 2029 and 2034 and
thereafter 5% increases every 5 years with five, 5-year renewal options.
This Walgreens boast high performance and has massive sales. The
asset benefits from its hard corner location on a major commercial
thoroughfare with exposure to 30,448 vehicles per day and also strong
demographics in the area. The property neighbors Burger King, Wendy's,
Captain D's, Taco Bell, KFC, Tim Horton's, 7-Eleven and more.
Township, Michigan. The property is 15,120 square feet and has a long
operating history of over 20 years at this location. The property consists
of 15,120 square feet and a received new roof in 2019. The lease
expires in 2037 with a 2.5% rental increase in 2029 and 2034 and
thereafter 5% increases every 5 years with five, 5-year renewal options.
This Walgreens boast high performance and has massive sales. The
asset benefits from its hard corner location on a major commercial
thoroughfare with exposure to 30,448 vehicles per day and also strong
demographics in the area. The property neighbors Burger King, Wendy's,
Captain D's, Taco Bell, KFC, Tim Horton's, 7-Eleven and more.
Property Details
- Class
- C
- Year Built
- 2002
- Stories
- 1
- Property Subtype
- Drug Store
- Lot Size (sq. ft)
- 86,249 SF
Highlights
- Net Leased Offering
- Rental Increases of 2.5% in 2029 & 2034 and Thereafter 5% Increases Every 5 Years
- High Performing Location - Massive Sales
- Corporate Guarantee - NASDAQ:WBA | S&P Rated BBB- Investment Grade Credit
- Desirable Demographics - 103,152 Residents within a 3-Mile Radius
- Located on a Major Commercial Thoroughfare - Heavily Trafficked Area (30,448 VPD)
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