Free-Standing NNN Retail
1156 W Huron St Waterford, MI 48328
1156 W Huron St, Waterford, MI, 48328
Contact for pricing
For Sale
Contact for pricing
Single-tenant free-standing retail building on 1.16 acres with an absolute NNN structure and lease obligation through March 2027.
Property Size10,922 SF
Lot Size1.16 Acres
Price / SF$160.08
Days on Market594
Property Features for 1156 W Huron St
General Information
- Standard status
- Active
- Size
- 10,922 SF
- Lot size
- 1.16 Acres
- Property subtype
- RETAIL
Listing agency
Encore Real Estate Investment Services
(248) 702-0289
Listed by
Dante Hargis · License #6501373153
(248) 702-0289
Source
Moodyscre
Added: Dec 4, 2024 Updated: Jul 21 at 1:49AM Checked: Jul 21 at 5:34AM
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
Investment Insights
Based on property information with market context.
This is a 10,922 SF, single-tenant, free-standing retail building situated on 1.16 acres. The property is currently vacated by CVS, and the lease obligation runs through March 2027. The asset may be delivered free and clear of the lease for immediate occupancy, or as an opportunity to collect remaining rent while working to re-tenant the property.
The offering is an absolute NNN net lease, with no landlord responsibilities. The site is described as supported by dense demographics, with 161,000+ residents within 5 miles, and strong traffic counts of 18,000+ vehicles per day on W Huron. The property is also located less than 3/4 mile from a new 75,000 SF DTE customer service center employing 200 workers.
In total, the property provides a straightforward single-tenant NNN structure with flexibility around immediate occupancy versus collecting remaining lease income through March 2027.
The offering is an absolute NNN net lease, with no landlord responsibilities. The site is described as supported by dense demographics, with 161,000+ residents within 5 miles, and strong traffic counts of 18,000+ vehicles per day on W Huron. The property is also located less than 3/4 mile from a new 75,000 SF DTE customer service center employing 200 workers.
In total, the property provides a straightforward single-tenant NNN structure with flexibility around immediate occupancy versus collecting remaining lease income through March 2027.
Key Highlights
- 10,922 SF single‑tenant, free‑standing retail building on 1.16 acres in Waterford, MI
- Absolute NNN net lease with no landlord responsibilities
- CVS has vacated; lease obligation runs until March 2027
Local Financial Insights For 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 | $183.5k | $16.80 |
| − Vacancy | −$15.6k | −$1.43 |
| EGI | $167.9k | $15.37 |
| − OpEx | −$50.4k | −$4.61 |
| NOI | $117.5k | $10.76 |
10,922 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$2.36M
$2.06M – $2.75M
NOI $164,905 @ 7.0% cap · market cap 9.43%
Second Best
Retail
$1.68M
$1.47M – $1.96M
NOI $117,525 @ 7.0% cap · market cap 6.72%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Drug stores
Similar For Sale Nearby
Similar Off Market Nearby
- Global Health Pharmacy — 135 s telegraph rd, pontiac, mi 48341
- Walgreens Pharmacy — 20 S Telegraph Rd, Waterford Twp, MI 48328
- Rashmin Patel — 20 S Telegraph Rd, Waterford Twp, MI 483283860
- Jamila Austin — 20 S Telegraph Rd, Waterford Twp, MI 483283860
- Huron Market Pharmacy — 1116 W Huron St, Waterford Twp, MI 48328
FAQs
What type of property is this?
Drug store - Single-tenant free-standing retail building on 1.16 acres with an absolute NNN structure and lease obligation through March 2027.
Where is this drug store located?
The property is located at 1156 W Huron St Waterford, MI.
What is the asking price?
The asking price for this property is $1,748,400.
What are key features of this property?
This property features: 10,922 SF single‑tenant, free‑standing retail building on 1.16 acres in Waterford, MI; Absolute NNN net lease with no landlord responsibilities; CVS has vacated; lease obligation runs until March 2027
