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29425 Orchard Lake Rd 13,210 SF Retail Building Farmington Hills, MI 48334 $5,950,000 ($450.42/SF) 6% Cap Rate
Investment Highlights
- Absolute NNN Ground Lease with Zero Landlord Responsibility
- Long-Term Lease with 9+ Years of Remaining Term
- Prime Hard-Corner Location with Exceptional Traffic Exposure (47K VPD)
- Corporate CVS Credit – Investment-Grade Tenant
- Strong Rent Growth via 5% Increases in Option Periods
- Dense, Affluent Suburban Detroit Demographics | High-Income Trade Area | 140K Average Household Income
Executive Summary
CVS Pharmacy -Absolute NNN Ground Lease | Farmington Hills, MI | Corporate CVS Credit (9,160+ Locations) | High-Income Trade Area | High Visibility & Traffic Exposure (47K VPD)
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
13,210 SF
Building Class
B
Year Built
2008
Price
$5,950,000
Price Per SF
$450.42
Cap Rate
6%
NOI
$357,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
1.23 AC
Zoning
Commerical
Parking
30 Spaces (1.12 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Signage
- Monument Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 23-10-228-001 | Improvements Assessment | $858,160 |
| Land Assessment | $168,350 | Total Assessment | $1,026,510 |
Property Taxes
Parcel Number
23-10-228-001
Land Assessment
$168,350
Improvements Assessment
$858,160
Total Assessment
$1,026,510
Contacts
-
Sal Yaldo -
Ayson Shammami -
Divon Shammami -
APEX Commercial Real Estate Advisors
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29425 Orchard Lake Rd
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