Taylor, MI Walgreens Investment Opportunity

20030 ECORSE RD, Taylor, MI

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For Sale

Contact for pricing

Walgreens property with long-term lease and prime location.

Type:RETAIL

Property size:

14,490 SF

Lot size:

1.20 Acres

Price / SF:

$151/SF

HighLights

Lowest rent Walgreens available in Wayne County Michigan at $9.45 Rent PSF.
True Fundamental Covered Land Play - 1.62 Acre Main on Main Corner.
Recent 10‑year lease extension with 8 years remaining in term.
Strong Credit Tenant with S&P BBB Credit.
Five (5), 5‑year options available with a one time 24% increase in the options.
Located at signalized intersection with high traffic volume (24,000+ VPD on both Ecorse and Pelham Roads).

We can help!

Contact an agent

Brandon Hanna

For Sale

Contact for pricing

Walgreens property with long-term lease and prime location.

Type:RETAIL

Property size:

14,490 SF

Lot size:

1.20 Acres

Price / SF:

$151/SF

Added:: Dec 3, 2024
Days on Market:: 571
Last Refresh:: May 20 at 8:26 pm

Property Features for 20030 ECORSE RD

General Information

Standard status: Active
Size: 14,490 SF
Lot size: 1.20 Acres
Property subtype: RETAIL

We can help!

Contact an agent

Brandon Hanna

Listing office Encore Real Estate Investment Services

Listing date Dec 3, 2024

Source Moodyscre

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 Encore Real Estate Investment Services

HighLights

Lowest rent Walgreens available in Wayne County Michigan at $9.45 Rent PSF.
True Fundamental Covered Land Play - 1.62 Acre Main on Main Corner.
Recent 10‑year lease extension with 8 years remaining in term.
Strong Credit Tenant with S&P BBB Credit.
Five (5), 5‑year options available with a one time 24% increase in the options.
Located at signalized intersection with high traffic volume (24,000+ VPD on both Ecorse and Pelham Roads).

Overview

This property is a 14,490-square-foot all-brick building constructed in 2001, situated on a 1.62-acre corner lot. It is currently occupied by Walgreens, with over 20 years at this location and a recent 10-year lease extension, leaving 8 years remaining in the term. The tenant has a strong credit rating of S&P BBB. The location features a drive-thru and ample parking. The property is located at the signalized intersection of Ecorse Road and Pelham Road, which sees traffic counts of over 24,000 vehicles per day on each road. The surrounding area includes national retailers such as Advance Auto Parts, Burger King, Dollar Tree, Kroger, McDonald's, Taco Bell, and Wendy's. There are five 5-year options available with a one-time 24% increase in the options. The property is located in Taylor, Michigan.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$260.8k	$18.00
− Vacancy	−$10.4k	−$0.72
EGI	$250.4k	$17.28
− OpEx	−$62.6k	−$4.32
NOI	$187.8k	$12.96

14,490 SF · lease $18.00/SF/yr · vacancy 4.00% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$2.68M

$2.35M – $3.13M (±1% cap)

NOI $187,790 @ 7.0% cap · market cap 8.54%

Second Best

Retail

$1.96M

$1.72M – $2.29M (±1% cap)

NOI $137,296 @ 7.0% cap · market cap 6.24%

Theoretical Best

—

same as Best Use

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Walgreens Photo (Bike/Boat/Book/etc) Store COVID-19 Drive-Thru Testing ... Medical Laboratory Walgreens Pharmacy Walgreens Pharmacy Pharmacy FedEx OnSite Postal Service

Suggested Use

Similar Places Nearby

Walgreens Pharmacy — 20030 Ecorse Rd, Taylor, MI 48180
GNC — 21552 Ecorse Rd, Taylor, MI 48180
Mukesh Vir — 20030 Ecorse Rd, Taylor, MI 481801914
Nanette Sabell — 20030 Ecorse Rd, Taylor, MI 481801914
CBD Health Crew — 18736 Philomene Blvd, Allen Park, MI 48101, United States

Location Insight

Map
Local Demand

City: Taylor
County: Wayne
State: Michigan
Longitude: -83.2317
Latitude: 42.2574

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For sale
Drug stores
MI
Taylor
20030 ECORSE RD

What type of property is this?

Drug store - Walgreens property with long-term lease and prime location.

Where is this drug store located?

The property is located at 20030 ECORSE RD Taylor, MI.

What is the asking price?

The asking price for this property is $2,200,000.

What are key features of this property?

This property features: Lowest rent Walgreens available in Wayne County Michigan at $9.45 Rent PSF.; **True Fundamental Covered Land Play - 1.62 Acre Main on Main Corner.**; Recent 10‑year lease extension with 8 years remaining in term.

20030 ECORSE RD, Taylor, MI

Walgreens property with long-term lease and prime location.

Property Features for 20030 ECORSE RD

General Information

We can help!

HighLights

Overview

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Similar Places Nearby

Location Insight

Nearby Similar for Sale

Medical Office Building with Separate Entrance

Taylor, MI Office/Retail Building

Profitable Liquor Store & Building

Turnkey Bar and Restaurant Opportunity

Restaurant in Kirklynn Plaza

Taylor, MI Commercial Building For Sale

Commercial Property with Kitchen Infrastructure

Commercial Property in Taylor, MI

Freestanding Retail and Office Building

Medical Office with Separate Entrance

Commercial Property Near I-94 Corridor

Freestanding Burger King Investment Opportunity

FAQs