20 Telegraph Rd Waterford, MI 48328-3860
- Drug stores
- 14,780 SF
- 1.63 lot acres
Current Use by Public Records
- Drug stores
Property Details for 20 Telegraph Rd
- Year built
- 2007
- Lot size
- 1.63 lot acres
- Property size
- 14,780 SF
- Zone code
- BI
- Property type
- Drug stores
- APN
- W -13-25-477-033
- APU
- W1325477033
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Waterford
- County
- Oakland
- State
- Michigan
- Longitude
- -83.3264
- Latitude
- 42.6347
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
