20 Telegraph Rd Waterford, MI 48328-3860

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.