Freestanding Drug Store
For Sale
Contact for pricing
Pending
4350 Dixie Hwy, Waterford, MI 48329
Corporate-guaranteed drug store with a double-net lease and multiple renewal options.
Property SizeContact for details
Days on Market143
Property Features for 4350 Dixie Hwy
General Information
Standard status
Pending
Property subtype
Retail
Building Details
Tenancy
Single
Listing Agency:
Pharma Property Group
(619) 297-0055
Listed By:
Jason Pongsrikul · License #CA 01918332
Source:
Crexi
Added: Apr 11
Changed: Aug 30
Last Checked: Aug 30 at 9:14AM
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 freestanding drug store property at 4350 Dixie Hwy in Waterford Township, Michigan, operates under a double-net lease with more than 3 years remaining before the first of five 5-year renewal options. Contractual rent increases include a 53% adjustment in 2023, followed by approximate 4% increases at the start of each remaining option period.
Rite Aid provides corporate income support and is identified as an S&P B-rated Fortune 500 company with ±2,500 locations. The store has operated at this site for 20+ years, and a CVS is located directly across the street. The property is approximately 35 miles northwest of downtown Detroit, within a 5-mile area reporting 143,897 residents and average household income of $76,400.
Rite Aid provides corporate income support and is identified as an S&P B-rated Fortune 500 company with ±2,500 locations. The store has operated at this site for 20+ years, and a CVS is located directly across the street. The property is approximately 35 miles northwest of downtown Detroit, within a 5-mile area reporting 143,897 residents and average household income of $76,400.
Key Highlights
- Double‑net lease with more than 3 years remaining
- Five 5‑year renewal options follow the current lease term
- 53% contractual rent increase in 2023
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
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
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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 - Corporate-guaranteed drug store with a double-net lease and multiple renewal options.
Where is this drug store located?
The property is located at 4350 Dixie Hwy Waterford, MI.
What are key features of this property?
This property features: Double‑net lease with more than 3 years remaining; Five 5‑year renewal options follow the current lease term; 53% contractual rent increase in 2023
