Walgreens Drug Store with NNN
For Sale
Contact for pricing
24140 Orchard Lake Rd, Farmington Hills, MI 48336
Corporate-backed occupancy is structured under an absolute net lease with extended renewal options.
Property SizeContact for details
Days on Market145
Property Features for 24140 Orchard Lake Rd
General Information
Standard status
Active
Property subtype
Retail
Listing Agency:
Pharma Property Group
(619) 297-0055
Listed By:
Jason Pongsrikul · License #CA 01918332
Source:
Crexi
Added: Apr 11
Changed: Aug 31
Last Checked: Aug 31 at 5:26AM
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 Pharma Property Group
Investment Insights
Based on property information with market context.
The Walgreens drug store at 24140 Orchard Lake Rd is offered with an absolute NNN lease structure. The primary term has 7+ years remaining, followed by ten 5-year options. The lease includes a corporate guarantee from Walgreens, which holds a BBB investment-grade credit rating from S&P. The offering reflects an 8.0 CAP rate.
The property occupies the southeast signalized corner of Orchard Lake Road and West 10 Mile Road in Farmington Hills, Michigan. Those roads record 20,544 VPD and 10,140 VPD, respectively, for a combined 30,684 vehicles per day. Interstate 696 is less than two miles north and carries approximately 188,000 vehicles per day.
Beaumont Hospital and Beaumont Medical Center are within a 5-mile radius. The property is approximately 24 miles northwest of downtown Detroit and sits within the Detroit MSA.
The property occupies the southeast signalized corner of Orchard Lake Road and West 10 Mile Road in Farmington Hills, Michigan. Those roads record 20,544 VPD and 10,140 VPD, respectively, for a combined 30,684 vehicles per day. Interstate 696 is less than two miles north and carries approximately 188,000 vehicles per day.
Beaumont Hospital and Beaumont Medical Center are within a 5-mile radius. The property is approximately 24 miles northwest of downtown Detroit and sits within the Detroit MSA.
Key Highlights
- Walgreens drug store with an absolute NNN lease
- 7+ years remain on the primary lease term
- Ten 5‑year renewal options follow the primary term
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48336, MI
26,802
Population
12,296
Households
2.2
Avg Household Size
42
Median Age
44%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
2,882
Density / Sq Mi
$85,325
Median Household Income
$54,077
Median Earnings
$1,141
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Tayler Prescriptions — 32316 Grand River Ave, Farmington, MI 48336
- A N R Associates LLC — 23020 Power Rd B, Farmington, MI 48336
- Rite Care Pharmacy — 23133 Orchard Lake Rd Unit 102, Farmington, MI 48336
- Rose Best — 23654 Tuck Rd, Farmington Hills, MI 48336
- COVID-19 Drive-Thru Testing at Walgreens — 24140 Orchard Lake Rd, Farmington Hills, MI 48336
Frequently Asked Questions
What type of property is this?
Drug store - Corporate-backed occupancy is structured under an absolute net lease with extended renewal options.
Where is this drug store located?
The property is located at 24140 Orchard Lake Rd Farmington Hills, MI.
What are key features of this property?
This property features: Walgreens drug store with an absolute NNN lease; 7+ years remain on the primary lease term; Ten 5‑year renewal options follow the primary term
