20030 Ecorse Rd Taylor, MI 48180
Property profile & analytics
20030 Ecorse Rd Taylor, MI 48180
- Drug stores
- 14,378 SF
- 1.60 lot acres
Property ID
US43-5290102
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- COVID-19 Drive-Thru Testing at Walgreens / Medical Laboratory
- Walgreens / Pharmacy
- Walgreens Pharmacy / Pharmacy
- FedEx OnSite / Postal Service / Courier Service
Property Details for 20030 Ecorse Rd
- Year built
- 2001
- Lot size
- 1.60 lot acres
- Property size
- 14,378 SF
- Zone code
- B-1
- Property type
- Drug stores
- APN
- 60 004 01 0014 304
- APU
- 60004010014304
Description
This exceptional investment opportunity presents a 14,490-square-foot Walgreens pharmacy located in Taylor, Michigan. The property, built in 2001, sits on a 1.62-acre lot at a signalized intersection with high daily traffic volume (Ecorse Road and Pelham Road, both exceeding 24,000 vehicles per day). The building is a single-tenant, all-brick structure with a drive-thru and ample parking. The current lease, a Net Net (NN) agreement with Walgreens (S&P BBB credit rating), has a remaining term of eight years, with five additional five-year options available, including a one-time 24% rent increase across the option terms. The current lease commenced November 24, 2001, and expires November 30, 2032. The asking price is $2,341,880, representing a 5.85% cap rate and a net operating income (NOI) of $137,000. The property is zoned B-1 and enjoys a 100% occupancy rate. The location benefits from its proximity to numerous national retailers, including Advance Auto Parts, Burger King, Dollar Tree, Kroger, McDonald's, Taco Bell, and Wendy's. This is a rare opportunity to acquire a Walgreens property with a low rent per square foot ($9.45) and a strong, long-term tenant commitment exceeding 20 years at this location. The property's prime location and favorable lease terms make it an attractive investment for discerning buyers.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,915,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,270,000
- 6.5%
- $2,095,000
- 7%
- $1,945,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,496,000
- AI Estimate
- $2,496,000
Market price range: $1.04M - $2.50MMarket price range: $1.04M - $2.50M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,695,000 Current use
- APARTMENT HOUSE (5+ UNITS)
- $3,285,000 Change: +94% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $1,580,000 Change: -7% Conversion: Easy
- RESTAURANT
- $1,490,000 Change: -12% Conversion: Easy
- OFFICE BUILDING
- $1,395,000 Change: -18% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Taylor
- County
- Wayne
- State
- Michigan
- Longitude
- -83.2318
- Latitude
- 42.2567
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$0.00
$0.00
$0.00
$875,100
-
$0.00
$0.00
$1,750,200
