66711 Gratiot Ave Richmond, MI 48062-1909
This exceptional 11,294-square-foot retail property, formerly a Rite Aid, presents a unique investment or leasing opportunity in the thriving Richmond, Michigan market. Situated on Gratiot Avenue, a major north retail corridor serving Southeast Michigan, this single-tenant building boasts a highly desirable location. The property features a convenient drive-thru, prominent pylon signage ensuring excellent visibility, and easy ingress and egress. Ample parking is provided with 42 spaces. The strategic location offers significant advantages, positioned directly across from a Kroger-anchored shopping center, the area's dominant grocery store. Further enhancing its appeal, the property shares a parking lot with a Family Farm and Home store, creating a synergistic retail environment. The 1.18-acre lot provides ample space and potential for future development or expansion. The owner is open to both lease and sale options, making this a versatile opportunity for a variety of retail businesses seeking a high-traffic location in a strong retail corridor within Macomb County's South East Michigan submarket, specifically the Metro Detroit cluster. The property's history as a successful drug store demonstrates its suitability for a range of retail uses, and its prime location ensures high visibility and accessibility for customers. This is an exceptional opportunity to acquire a well-positioned retail property in a growing market. The property is located at 66711 Gratiot Ave, Richmond, MI 48062.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
B-3 · Richmond, MIRichmond. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.