20030 Ecorse Rd Taylor, MI 48180

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.

Location Insight

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