Freestanding Walgreens in Rochester
2985 Crooks Rd Rochester Hills, MI
2985 Crooks Rd, Rochester Hills, MI, 00000
Contact for pricing
For Sale
Contact for pricing
Single tenant Walgreens in Rochester Hills, Michigan for sale.
Property Size14,820 SF
Lot Size12.81 Acres
Price / SF$326.78
Days on Market646
Property Features for 2985 Crooks Rd
General Information
- Standard status
- Active
- Size
- 14,820 SF
- Lot size
- 12.81 Acres
- Property subtype
- RETAIL
Listing agency
Legacy Real Estate Advisors
(248) 892-9691
Listed by
Rami Gulli · License ##6501439384
(248) 892-9691
Source
Moodyscre
Added: Oct 15, 2024 Updated: Jul 6 at 8:53AM Checked: Jul 21 at 5:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Legacy Real Estate Advisors
Investment Insights
Based on property information with market context.
This single-tenant, freestanding Walgreens property is located in Rochester Hills, Michigan, within the Detroit MSA, which is ranked among the top 15 in the U.S.A. The surrounding area has a dense population, with over 60,000 residents within a 3-mile radius. Daytime employment exceeds 41,000+ people within the same radius. The area is affluent, with an average household income exceeding $123,000+ within 3 miles. The property operates under an absolute NNN lease structure, meaning zero landlord responsibilities. As an essential retailer, the tenancy is pandemic and recession-resistant. The property size is 14,820 square feet.
Key Highlights
- Absolute NNN lease structure - zero landlord responsibilities
- Single tenant freestanding Walgreens
- Located in an affluent area with average household income exceeding $123,000+ within a 3‑mile radius
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $320.1k | $21.60 |
| − Vacancy | −$21.8k | −$1.47 |
| EGI | $298.3k | $20.13 |
| − OpEx | −$74.6k | −$5.03 |
| NOI | $223.8k | $15.10 |
14,820 SF · lease $21.60/SF/yr · vacancy 6.80% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.20M
$2.80M – $3.73M
NOI $223,758 @ 7.0% cap · market cap 4.62%
Second Best
Retail
$2.28M
$1.99M – $2.66M
NOI $159,469 @ 7.0% cap · market cap 3.29%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Drug stores
Similar For Sale Nearby
Similar Off Market Nearby
- Burton Chan, BSc — 2985 Crooks Rd, Rochester Hills, MI 48309
- Eliana Malouf, RPH — 2985 Crooks Rd, Rochester Hills, MI 48309, United States
- Bok Hee Lee, RPh — 2985 Crooks Rd, Rochester Hills, MI 48309
- Auburn Pharmacy — 2040 W Auburn Rd, Rochester Hills, MI 48309
- COVID-19 Drive-Thru Testing at Walgreens — 2985 Crooks Rd, Rochester Hills, MI 48309
FAQs
What type of property is this?
Drug store - Single tenant Walgreens in Rochester Hills, Michigan for sale.
Where is this drug store located?
The property is located at 2985 Crooks Rd Rochester Hills, MI.
What is the asking price?
The asking price for this property is $4,842,857.
What are key features of this property?
This property features: Absolute NNN lease structure - zero landlord responsibilities; Single tenant freestanding Walgreens; Located in an affluent area with average household income exceeding $123,000+ within a 3‑mile radius
