2985 Crooks Rd Rochester Hills, MI 48309

This exceptional investment opportunity presents a single-tenant, freestanding Walgreens pharmacy located at 2985 Crooks Rd, Rochester Hills, MI 48309. The property boasts a 14,825 square foot building on a 2.09-acre lot, constructed in 2005. It features an absolute NNN lease with Walgreens, a credit-rated tenant, ensuring minimal landlord responsibilities. The current lease, commencing July 31, 2005, and expiring July 31, 2035, has a remaining term of approximately 10.7 years. The property enjoys a strong financial performance, with a net operating income (NOI) of $339,000 and a cap rate of 6.40%. The asking price is $5,300,000, translating to a price per square foot of $357.50. The property benefits from its location in a high-traffic area, with over 16,000 vehicles passing daily on W Auburn Rd and over 32,000 on Crooks Rd. Situated in a prosperous community, Rochester Hills, known for its high average household income (exceeding $123,000 within a 3-mile radius) and strong demographics (5,000+ residents within 1 mile, 60,000+ within 3 miles), this Walgreens enjoys exceptional visibility and accessibility. The property is strategically positioned on a signalized hard corner, further enhancing its appeal. Owner financing is available at 5% for the full lease term. This is a rare opportunity to acquire a stable, high-performing retail investment in a prime location.