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Walgreens: Dearborn Heights, MI 25700 Ford Rd 14,726 SF Retail Building Dearborn Heights, MI 48127 $6,200,000 ($421.02/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- Top visited location with strong store sales.
- Proximate to a variety of traffic drivers, including several schools, golf courses and parks.
- Population of 133,200 and an average household income of $89,744 within a 3-mile radius.
- 6.8 MSF of retail, 2.6 MSF of office, 2.7 MSF of industrial and 7,547 multi-family units within a 3-mile radius.
EXECUTIVE SUMMARY
CBRE is pleased to exclusively offer for sale the 14,726 square-foot Walgreens situated on 1.55 acres in Dearborn Heights, MI - a component of Greater Detroit (MSA Population: 4.35M+). Walgreens’ absolute NNN lease features ±7.8 years of firm term remaining with the potential for up to 50 additional years of term. Situated roughly 12 miles west of downtown Detroit, Walgreens is positioned at the hard-corner, signalized intersection of Beech Daly (18,750 VPD) and Ford Road(42,583 VPD) — a crucial east-west thoroughfare connecting Downtown Detroit to the western suburbs. Additionally, the site is less than one mile away from access to US-24 (60,873 VPD) which provides over 100 miles of north-south connectivity in the Detroit metro area.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,726 SF
Building Class
B
Year Built
2008
Price
$6,200,000
Price Per SF
$421.02
Cap Rate
8%
NOI
$496,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
1.55 AC
Opportunity Zone
Yes
Parking
81 Spaces (5.5 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signalized Intersection
- Drive Thru
Walk Score®
Very Walkable (77)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 33-014-01-0001-100 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,210,100 |
PROPERTY TAXES
Parcel Number
33-014-01-0001-100
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,210,100
CONTACTS
-
Christopher Bosworth -
Thomas Carr -
Brian Pfohl -
Katie Goldberg -
Abby Kelly -
Kaitlyn Wolf -
Leah Lindell -
David Hesano -
CBRE, Inc.
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Walgreens: Dearborn Heights, MI | 25700 Ford Rd
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