31010 John R Rd
Madison Heights, MI 48071
CVS - Madison Heights, MI · Retail Property For Sale

The Jonna Group of Marcus & Millichap is pleased to exclusively present this fee-simple CVS Pharmacy Ground Lease offering located in Madison Heights, MI. CVS occupies the drive-thru 10,880-square foot building with over 7 years remaining on their ground lease. The lease also features 6 (5 year) subsequent option periods with increases every 5 years. The 1.31+ acre parcel is situated on the hard corner signalized intersection of John R Road and 13 Mile Road with over 60,000 VPD , having ingress/egress to both John R Road and 13 Mile Road. CVS is shadow anchored by Sam' s Club situated directly behind it, adding an abundance of car and foot traffic to the site. The subject site is located approximately two miles south of Oakland Mall Shopping Center, an enclosed 1,500,000 square foot super regional mall located in the city of Troy, Michigan. Oakland Mall features approximately 120 stores, including a food court, plus several big box stores including Macy' s, JCPenney, and Sears. Madison Heights is located in Oakland County, Michigan, one of the 10 highest income counties in the United States with populations of over one million people. Oakland County is part of the Detroit metropolitan area, though the city of Detroit is located in neighboring Wayne County, south of Eight Mile Road. Oakland County is home to 62 cities, villages and townships. These communities range from blue-collar, inner-ring suburbs like Ferndale and Hazel Park, to affluent cities such as Birmingham, Clarkston, West Bloomfield Township, Oakland Township and Franklin. The white-collar cities of Bloomfield Hills, Southfield, Farmington Hills, and Auburn Hills host a rich mix of Fortune 500 companies and international firms. Oakland County is also home to Oakland University, a large public institution that straddles the Auburn Hills and Rochester Hills border.