Building Details

Buildings 1

Listing Agency: Reichle | Klein Group Show Phone

Listed By: Duke Wheeler · License #2002018621 Show Phone

Source: Moodyscre

Added: Aug 21 Changed: Oct 13 Last Checked: Oct 12 at 6:47PM

Report an Issue

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 Reichle | Klein Group

Investment Insights

Based on property information with market context.

The property is a 10,942-square-foot former drug store building suited to single-tenant or multi-tenant retail redevelopment. Existing features include monument signage, building signage, ample parking, and multiple points of access. The site also has potential for a drive-through or pickup window.

Access includes Sterns Rd., while Secor Rd. carries 14,921 vehicles per day and Sterns Rd. carries 9,046 vehicles per day. The building and site configuration provide a retail-oriented setting with established vehicular access and exposure along both roads.

Key Highlights

• 10,942‑square‑foot former drug store building
• Multiple access points, including Sterns Rd.
• Potential for drive‑through or pickup window

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$106,578

Cap Rate

5.33%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,131,560 $2.1M

Cap Rate 7%

$1,522,543 $1.5M

Cap Rate 9%

$1,184,200 $1.2M

Market Conditions

NOI Build-Up for 10,942 SF

Gross rent

$153.6K $14.04/SF

− Vacancy

−$11.5K −$1.05/SF

EGI

$142.1K $12.99/SF

− OpEx

−$35.5K −$3.25/SF

NOI

$106.6K $9.74/SF

Area

Monroe County, MI

Vacancy

7.50%

Lease Rate

$14.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,131,560

Cap Rate 7%

$1,522,543

Cap Rate 9%

$1,184,200

Alternative Uses

Best Use

Specialty Retail

$1.52M

$1.33M – $1.78M (±1% cap)

NOI $106,578 @ 7.0% cap · market cap 5.33%

Second Best

Retail

$1.50M

$1.31M – $1.75M (±1% cap)

NOI $105,125 @ 7.0% cap · market cap 5.26%

Theoretical Best

Warehouse

$11.29M

$9.87M – $13.17M (±1% cap)

NOI $789,970 @ 7.0% cap · market cap 39.50%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Rite Aid Pharmacy Coinhub Bitcoin ATM ... Atm Dalal Nassif Pharmacy Western Union Bank Amazon Hub Counter ... Postal Service

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Law Firm Auto Repair Shop Restaurant Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

14,921 VPD

Traffic count

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

323

Businesses Nearby

237k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 42% Groceries 26% Shops & Services 24% Home Improvements & Furnishings 5%

Kroger Groceries

62,720 visits/mo 0.1 miles

McDonald's Dining

27,277 visits/mo 0.1 miles

Dollar Tree Shops & Services

21,586 visits/mo 0.2 miles

Kroger Fuel Center Shops & Services

20,765 visits/mo 0.1 miles

Taco Bell Dining

13,677 visits/mo 0.1 miles

Demographics for 48144, MI

10,331

Population

4,179

Households

2.5

Avg Household Size

46

Median Age

31%

College-Educated

95%

High-School Grad

7.9 sq mi

ZIP Area

1,308

Density / Sq Mi

$97,371

Median Household Income

$48,077

Median Earnings

$1,116

Median Rent

$241,200

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this drug stores located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• Rite Aid Pharmacy — 7358 Secor Rd, Lambertville, MI 48144
• Lindsay LeBlanc, PharmD — 7420 Secor Rd, Lambertville, MI 48144
• COVID-19 Drive-Thru Testing at Walgreens — 7420 Secor Rd, Lambertville, MI 48144
• Jennifer Koskie — 7420 Secor Rd, Lambertville, MI 481449607
• Dalal Nassif — 7358 Secor Rd, Lambertville, MI 48144

Frequently Asked Questions

What type of property is this?

Drug store - Former retail pharmacy building with multiple access points, on-site parking, signage, and drive-through or pickup-window potential.

Where is this drug store located?

The property is located at 7358 Secor Rd Lambertville, MI.

What is the asking price?

The asking price for this property is $2,000,000.

What are key features of this property?

This property features: 10,942‑square‑foot former drug store building; Multiple access points, including Sterns Rd.; Potential for drive‑through or pickup window