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Property profile & analytics
OFF-MARKET Estimated value $1,700,000
Drug stores

66711 Gratiot Ave Richmond, MI 48062-1909

11,294 SF 1.18 ac lot Built 1996
Entity Owned 1-yr Hold ~ Est. High Equity
Property ID
US43-1430426
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Drug stores
Use group DRUG STORE, PHARMACY
Year built 1996
Total area 11,294 SF
Lot 1.18 ac (51,357 SF)
Zoning code B-3
APN 07-06-12-201-022
UPID US43-1430426
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.70M
Blend (final) Blend
$1.70M
Owner & transaction history
66711 Gratiot LLC · 1 yrs held
66711 Gratiot LLC
since 2025
3 recorded transactions
2025
Price N/A
2022
$1.7M
2019
Price N/A
Zoning & alternative use
B-3 · Richmond, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $1.6M +35.9%
Medical building $1.4M +17.7%
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