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- LoopNet Team
24140 Orchard Lake Rd
Farmington, MI 48336
Walgreens · Retail Property For Sale
Investment Highlights
- STABLE INCOME - Income guaranteed by Walgreens corp., investment grade credit rating of BBB- (S&P), Fortune 500, with ±9,200 locations.
- DETROIT AREA LOCATION - Located in a suburb 24 miles NE of downtown Detroit and is near the Detroit MSA with over 3.9 million residents.
- BUSY INTERSECTION WITH ±30,000 VPD - Located at signalized corner of Orchard Lake Rd. & 10 Mile Rd. with a combined traffic count of 30,684 VPD.
- ABSOLUTE NET LEASE – Absolute net lease with 7+ yrs. of primary term remaining and 10 (5-year) options to follow.
- TWO MAJOR MEDICAL FACILITIES WITHIN 5-MILES – Near Beaumont Hospital and Beaumont Medical Center.
- ABOVE AVERAGE INCOME & DENSELY POPULATED AREA - The average HH income is $90,846 in a and total population is 204,235 in a 5-mile radius.
Property Facts
Amenities
- Pylon Sign
- Signalized Intersection
- Drive Thru
About 24140 ORCHARD LAKE RD , FARMINGTON, MI 48336
Pharma Property Group has been exclusively retained by ownership to present for sale the Walgreens property located in Farmington Hills (Detroit Area), Michigan. This property is available for purchase and operates on an absolute net lease basis with 7 years on the primary lease term, including ten (5-year) options to follow. Income guaranteed by Walgreens corporation which has an investment grade credit rating of BBB- (S&P) and is a Fortune 500 company with approximately 9,200 locations. The property is located at the SE signalized corner of Orchard Lake Road (20,544 VPD) and West 10 Mile Road (10,140 VPD) with a traffic count of 30,684 vehicles per day. Interstate 696 is located less than two miles directly north of the subject property with approximately 188,000 vehicles per day. There are two major medical facilities within a 5-mile radius: Beaumont Hospital and Beaumont Medical Center. The subject property is located in a suburb approximately 24 miles northwest of downtown Detroit and is part of the Detroit area. The Detroit MSA is the 11th most populous in the United States with a population of about 3.9 million people. The average household income is $90,846 and total population is 204,235 in a five-mile radius.
Property Taxes
| Parcel Number | 23-26-101-055 | Improvements Assessment | $555,480 |
| Land Assessment | $253,820 | Total Assessment | $809,300 |
Property Taxes
