Drug Store with Absolute NNN
New
For Sale
$5,070,560
4300 Dixie Highway, Waterford Township, MI 48329
The corporate-guaranteed lease has approximately eight years remaining, with rental increases and option periods.
Property Size12,900 SF
Days on Market2
Property Features for 4300 Dixie Highway
General Information
Standard status
Active
Size
12,900 SF
Property subtype
Retail - Freestanding
Additional Details
Traffic Count
44,000 vehicles/day
Building Details
Building Size
12,900 SF
Year Built
2009
Listing Agency:
CP Partners
Listed By:
Zeb Ripple · License #01242540
(415) 274-2702
Source:
Commercialcafe
Added: Oct 7
Last Checked: Oct 7 at 2:07PM
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
Investment Insights
Based on property information with market context.
Built in 2009, this drug store is subject to an absolute NNN lease with approximately eight years remaining. The lease includes a corporate guarantee from an investment-grade tenant rated BBB by S&P, with 10% rental escalations every five years through the option periods.
The property is on Dixie Highway, identified as Waterford’s primary retail corridor, where combined daily traffic is 44,000 VPD.
The property is on Dixie Highway, identified as Waterford’s primary retail corridor, where combined daily traffic is 44,000 VPD.
Key Highlights
- Absolute NNN lease with approximately 8 years remaining
- Corporate guarantee from an investment‑grade tenant rated BBB by S&P
- 10% rental escalations every 5 years through the 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.
Property Analytics
Current Use
Lease Details
44,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
37k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 38%
Taco Bell
Dining
11,467 visits/mo
0.4 miles
Genisys Credit Union
Shops & Services
7,746 visits/mo
0.0 miles
Family Dollar
Shops & Services
5,922 visits/mo
0.5 miles
BP
Shops & Services
5,162 visits/mo
0.5 miles
Chase Bank
Shops & Services
3,910 visits/mo
0.5 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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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-guaranteed lease has approximately eight years remaining, with rental increases and option periods.
Where is this drug store located?
The property is located at 4300 Dixie Highway Waterford Township, 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: Absolute NNN lease with approximately 8 years remaining; Corporate guarantee from an investment‑grade tenant rated BBB by S&P; 10% rental escalations every 5 years through the option periods
