Drugstore with Absolute NNN
4274 Dixie Highway, Waterford, MI 48329
For Sale
New
Contact for pricing
The corporate lease includes scheduled rent increases and additional option periods.
Property Size12,900 SF
Price / SF$393.07
Days on Market4
Property Features for 4274 Dixie Highway
General Information
Standard status
Size
Property subtype
Site & Location
Traffic Count
Road Access
Additional Details
Tenant in Place
Building Details
Tenancy
Listing Agency:
CP Partners
(415) 274-2700
Listed By:
Zeb Ripple · License MI #01242540
(415) 274-2702
Source:
Moodyscre
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 12 at 2:38PM
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 CP Partners
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This drugstore property is occupied by CVS under a 25-year corporate absolute NNN lease, with approximately 8 years remaining and no rent holiday. The lease provides 10% rent increases every 5 years throughout its option periods. The building contains 12,900 square feet.
The property sits at the intersection of Dixie Highway and Sashabaw Road in Waterford. The intersection carries combined daily traffic of more than 44,000 vehicles. Multiple access points and dedicated left-turn lanes serve the site.
The property sits at the intersection of Dixie Highway and Sashabaw Road in Waterford. The intersection carries combined daily traffic of more than 44,000 vehicles. Multiple access points and dedicated left-turn lanes serve the site.
Key Highlights
- 12,900‑square‑foot drugstore building
- CVS corporate absolute NNN lease with approximately 8 years remaining and no rent holiday
- 10% rental escalations every 5 years during option periods
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$194,769
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,895,380
$3.9M
Cap Rate 7%
$2,782,414
$2.8M
Cap Rate 9%
$2,164,100
$2.2M
Market Conditions
NOI Build-Up for 12,900 SF
Gross rent
$278.6K $21.60/SF
− Vacancy
−$18.9K −$1.47/SF
EGI
$259.7K $20.13/SF
− OpEx
−$64.9K −$5.03/SF
NOI
$194.8K $15.10/SF
Area
Oakland County, MI
Vacancy
6.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,895,380
Cap Rate 7%
$2,782,414
Cap Rate 9%
$2,164,100
Alternative Uses
Best Use
Specialty Retail
$2.78M
$2.43M – $3.25M
NOI $194,769 @ 7.0% cap · market cap 3.84%
Second Best
Retail
$1.98M
$1.74M – $2.31M
NOI $138,809 @ 7.0% cap · market cap 2.74%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
44,000 VPD
Traffic count
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
368
Businesses Nearby
8k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Genisys Credit Union
Shops & Services
7,746 visits/mo
0.2 miles
Demographics for 48329, MI
24,391
Population
10,249
Households
2.4
Avg Household Size
45
Median Age
29%
College-Educated
94%
High-School Grad
10.3 sq mi
ZIP Area
2,368
Density / Sq Mi
$85,777
Median Household Income
$48,837
Median Earnings
$1,323
Median Rent
$245,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- CVS Pharmacy — 4300 Dixie Hwy, Waterford Twp, MI 48329
- Mark R. Comes, RPh — 4350 Dixie Hwy, Waterford Twp, MI 48329
- Hanadi Thomas — Rite Aid Pharmacy, 4350 Dixie Hwy, Waterford Twp, MI 48329
- Restorative Compounding Pharmacy + Wellness — 4450 Dixie Hwy Suite A, Waterford Twp, MI 48329
- Pritesh Patel, RPH — 4800 Dixie Hwy, Waterford Twp, MI 48329
Frequently Asked Questions
What type of property is this?
Drug store - The corporate lease includes scheduled rent increases and additional option periods.
Where is this drug store located?
The property is located at 4274 Dixie Highway Waterford, MI.
What is the asking price?
The asking price for this property is $5,070,560.
What are key features of this property?
This property features: 12,900‑square‑foot drugstore building; CVS corporate absolute NNN lease with approximately 8 years remaining and no rent holiday; 10% rental escalations every 5 years during option periods
