53069 Van Dyke Ave | Utica, MI 48316
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- LoopNet Team
53069 Van Dyke Ave
Utica, MI 48316
CVS · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Single Ownership Structure – No rent holiday; property consists of both the ground lease and sublease under common ownership
- Replaceable Rent – Rent is at market levels, ensuring long-term stability and strong re-leasing potential.
- Corporate Guarantee – Lease backed by CVS Health (NYSE: CVS), an investment-grade tenant with a Standard & Poor’s credit rating of “BBB."
- Absolute NNN Lease – Zero landlord responsibilities; tenant covers property taxes, insurance, and all maintenance
- Long-Term Commitment – Recent 10-year lease extension with three (3) additional five-year option periods, each including 10% rent increases
- High Quality Construction – High-quality all-brick building featuring retail on the first floor and storage on the second floor
PROPERTY FACTS
Property Type
Retail
Property Subtype
Drug Store
Building Size
15,300 SF
Building Class
B
Year Built
2006
Tenancy
Single
Building Height
2 Stories
Slab To Slab
10’
Building FAR
0.22
Lot Size
1.60 AC
Zoning
RETAIL 5K
Parking
53 Spaces (3.46 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signalized Intersection
- Drive Thru
PROPERTY TAXES
| Parcel Number | 23-07-09-478-033 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,120,800 |
PROPERTY TAXES
Parcel Number
23-07-09-478-033
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,120,800
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