Retail Building with
8531 Lansing Rd Durand, MI 48429
8531 Lansing Rd, Durand, MI, 48429
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For Sale
Contact for pricing
Former Rite Aid retail space with drive-thru in Durand.
Property Size11,082 SF
Price / SF$225.59
Days on Market737
Property Features for 8531 Lansing Rd
General Information
- Standard status
- Active
- Size
- 11,082 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1998
Listing Agency
Keystone Commercial Real Estate
(248) 406-7113
Listed by
Greg Newman · License #MI 6501288543
Source
Crexi
Added: Jul 11, 2024 Checked: Jul 16 at 11:43 am
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 Keystone Commercial Real Estate
Investment Insights
Based on property information with market context.
This 11,082 square foot retail building, formerly occupied by Rite Aid, is located in Durand, Michigan. The property features a drive-thru and an open layout. Its location is just off the freeway, offering prominent visibility and making it suitable for a range of retail businesses. The space can be leased to a single tenant or potentially split for multiple tenants.
Key Highlights
- Strategic location just off the freeway
- Equipped with a drive‑thru
- Large 11,082 SF space adaptable for single or multiple tenants
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $171.5k | $15.48 |
| − Vacancy | −$7.2k | −$0.65 |
| EGI | $164.3k | $14.83 |
| − OpEx | −$49.3k | −$4.45 |
| NOI | $115.0k | $10.38 |
11,082 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.64M
$1.44M – $1.92M
NOI $115,041 @ 7.0% cap · market cap 4.60%
Second Best
Specialty Retail
$1.59M
$1.39M – $1.86M
NOI $111,308 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,897 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Rite Aid Pharmacy
Pharmacy
Rite Aid
Pharmacy
Western Union
Bank
higi
Physician
Coinhub Bitcoin ATM ...
Atm
Similar For Sale Nearby
Similar Off Market Nearby
- Rite Aid Pharmacy — 8531 Lansing Rd, Durand, MI 48429
FAQs
What type of property is this?
Drug store - Former Rite Aid retail space with drive-thru in Durand.
Where is this drug store located?
The property is located at 8531 Lansing Rd Durand, MI.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Strategic location just off the freeway; Equipped with a drive‑thru; Large 11,082 SF space adaptable for single or multiple tenants
