New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,790,000
Drug stores
20 Telegraph Rd, Waterford, MI 48328-3860
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US43-0228388
Property summary
AI-generated overview
This exceptional investment opportunity presents a fee-simple ownership of a Walgreens located at 20 S Telegraph Rd, Suite 1, Waterford Township, MI 48328. The 14,820 square foot property, built in 2008, sits on a 1.63-acre lot at a hard corner intersection with high traffic counts (45,000 VPD). The property boasts a strong absolute NNN lease with Walgreens, a corporate guaranteed tenant, with 8.1 years remaining on a 25-year lease (commencing 01/01/2008 and expiring 12/31/2032), including 10 five-year renewal options. The current NOI is $533,952, resulting in a 7.00% cap rate and a price per square foot of $514.70. The property is 100% occupied and benefits from a large population (72,944 within 3 miles) and a cell phone tower on the site leased by T-Mobile USA. This is a prime retail investment with significant long-term potential. The asking price is $7,627,885.
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2007
Total area
14,780 SF
Lot
1.63 ac (71,003 SF)
Zoning code
BI
APN
W -13-25-477-033
UPID
US43-0228388
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.79M
Blend (final)
Blend
$1.79M
Owner & transaction history
Waterford 20 LLC · 11 yrs held
Waterford 20 LLC
since 2015
7 recorded transactions
Zoning & alternative use
BI · Waterford, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.6M
+71.6%
Restaurant
$2.6M
+69.3%
Medical building
$2.3M
+54.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Waterford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waterford submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,510,000
Current use
COMMERCIAL (GENERAL)
$2,595,000
Change: +72% · Conversion: Easy
RESTAURANT
$2,560,000
Change: +69% · Conversion: Easy
MEDICAL BUILDING
$2,335,000
Change: +54% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,430,000
Change: -5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,375,000
Change: -9% · Conversion: Moderate
OFFICE BUILDING
$1,290,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$1.79M
Range $1.61M – $1.97M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$121 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$36,187
Tax year 2023
Assessed value
$734,060
Assessed 2024
Previous assessed
$659,540
+11.3% YoY
Effective rate
4.93%
On assessed value
Total market value
$1,468,120
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2007
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
14,780 SF
Lot
1.63 ac (71,003 SF)
Zoning code
BI
APN
W -13-25-477-033
UPID
US43-0228388
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Waterford, MI
Zoning BI · permitted uses
BI · Waterford, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Waterford. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$2.6M
RESTAURANT
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
1.63 ac
Current owner
From public records · entity-resolved
Waterford 20 LLC
Entity
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2015
$8,940,000
Waterford 20 LLC
P & P Real Estate Ivestment INC
Warranty Deed
$6,600,000 · The Bancorp Bank
Oct 3, 2008
—
P & P Real Estate Investment INC
Huron-telegraph Property LLC
Warranty Deed
—
Apr 4, 2007
—
Huron-telegraph Property LLC
Huron-telegraph Prop II LLC
Quit Claim Deed
related
—
Oct 17, 2006
$550,000
Huron-telegraph Properties LLC
Bank One NA
Quit Claim Deed
related
—
Mar 13, 2001
—
Bank One Michigan
Karkouklis INC
Trustees Deed
related
—
Sep 20, 1999
—
Karkoulkis INC
—
Grant Deed
related
$2,340,000 · Bank One Michigan
—
—
P & P Real Estate Investment INC
—
Deed Of Trust
related
$3,000,000 · Acacia Life Insurance Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 20 Telegraph Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
