25015 Little Mack Ave Saint Clair Shores, MI 48080

Property Details for 25015 Little Mack Ave

Year built

2004

Lot size

1.34 lot acres

Property size

14,456 SF

Zone code

B-2

Property type

Drug stores

APN

09-14-28-228-058

APU

91428228058

Description

This exceptional investment opportunity presents a 12,727 square foot Walgreens located at 25015 Little Mack Ave, St. Clair Shores, MI 48080. The property is offered at $7,970,000, boasting a 5.77% cap rate and a substantial net operating income (NOI) of $460,267. The property operates under a triple-net (NNN) lease, meaning the tenant is responsible for all operating expenses, minimizing landlord responsibilities. The lease features a corporate guarantee from Walgreens, providing significant credit strength and security. The current lease term commenced September 1, 2021, and expires September 30, 2033, leaving approximately 8.9 years remaining. The lease includes twelve, five-year renewal options, with built-in rent bumps of 5% in year 3 and year 8, and during option periods, ensuring consistent income growth. This single-tenant retail property is classified as a convenience store, grocery store, and pharmacy/drug store, benefiting from Walgreens' established brand recognition and consistent customer traffic. The property's price per square foot is $626.23. This investment offers a secure, long-term income stream backed by a highly reputable tenant in a desirable retail location. The assumable CMBS loan further enhances the investment's appeal. This is a rare opportunity to acquire a stable, high-performing retail asset with significant upside potential.

Location Insight

City

Saint Clair Shores

County

Macomb

State

Michigan

Longitude

-82.9079

Latitude

42.4802

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments