632 N Dibble Ave
Lansing, MI 48917
CVS Pharmacy · Retail Property For Sale

The Jonna Group of Marcus & Millichap is pleased to present the exclusive fee-simple CVS investment located in Lansing, Michigan. CVS signed a double-net lease with 4.5 years remaining on the base term. The subject property benefits from being positioned in a main retail corridor of the capital city of Lansing, located in Ingham County. This CVS has a brand new roof installed 2017 that includes a new 20-year warranty. The CVS asset is strategically located off the busy corner of West Saginaw Highway (M-43) and North Waverly Road that sees over 34,000 vehicles traveling per day. The subject property is located within a dense residential area of Lansing, Michigan, that consists of over 58,000 households in a 5-mile radius and a heavily populated area that consists of over 138,000 people in a 5-mile radius. Retailers in the immediate vicinity include: McDonald's, AutoZone, O'Reilly Auto Parts, Taco Bell, Walgreens, Dollar General, Wendy's, Little Caesars, Rite Aid, Arby's, Domino's Pizza, Subway, Hungry Howie's and many more. The subject property lies in the Lansing, MI Metropolitan Statistical Area which consisting of three counties (Clinton, Eaton and Ingham) approximately 95 miles west of Detroit. The market is home to roughly 472,000 residents, with nearly 115,000 people residing in the city of Lansing. The market is expected to add more than 13,600 citizens by 2021, a 2.9 percent growth rate, buoyed by Michigan State University. Lansing is the capital city of Michigan, contributing tens of thousands of jobs to the employment base. It is an important center for educational, cultural, governmental, commercial, and industrial functions. The area is home to two medical schools, one veterinary school, two nursing schools, and two law schools – Michigan State University College of Law and Western Michigan University Cooley Law School. It is the site of the Michigan State Capitol, the state Supreme Court, the Court of Appeals, a federal court, the Library of Michigan and Historical Center, and headquarters of four national insurance companies.