8706 Telegraph Rd Dearborn Heights, MI 48127-1457
Property profile & analytics
8706 Telegraph Rd Dearborn Heights, MI 48127-1457
- Drug stores
- 13,836 SF
- 1.45 lot acres
Property ID
US43-1433989
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
- Redbox / Cinema / (Bike/Boat/Book/etc) Store
- FedEx OnSite / Postal Service / Courier Service
- Walgreens / Pharmacy
- Walgreens Pharmacy / Pharmacy
- Western Union / Bank / Credit Union
Property Details for 8706 Telegraph Rd
- Year built
- 1998
- Lot size
- 1.45 lot acres
- Property size
- 13,836 SF
- Property type
- Drug stores
- APN
- 33 001 02 0108 300
- APU
- 33001020108300
Description
This exceptional investment opportunity presents a 13,905-square-foot Walgreens pharmacy, strategically located at 8706 N Telegraph Rd, Dearborn Heights, MI 48127. The property, built in 1997 and boasting a brand new roof (2022), sits on a 1.45-acre lot in a high-traffic area with over 346,000 residents within a 5-mile radius. The hard corner location at a signalized intersection on Telegraph and Joy Road ensures exceptional visibility, benefiting from traffic counts exceeding 53,000 vehicles. This single-tenant, net-lease property features a corporate guarantee from an investment-grade tenant (S&P rated "BBB"). The current lease, with a remaining term of 9.3 years, includes five 5-year options, and a significant 33% rent increase in the first option. The property's strong performance is reflected in its 7.50% cap rate and a Net Operating Income (NOI) of $289,312. The lease commenced February 7, 1997, and expires February 28, 2034. The asking price is $3,857,493, translating to a price per square foot of $277.42. The property is situated in the Detroit MSA, less than 17 miles from downtown, and is surrounded by other national tenants, including Aldi, CVS, and Starbucks, further solidifying its prime location and investment potential. This is a rare opportunity to acquire a well-established, high-performing Walgreens property with a long-term lease and significant upside potential.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,160,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,185,000
- 6.5%
- $2,015,000
- 7%
- $1,875,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,612,000
- AI Estimate
- $2,612,000
Market price range: $1.30M - $2.61MMarket price range: $1.30M - $2.61M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,950,000 Current use
- APARTMENT HOUSE (5+ UNITS)
- $3,160,000 Change: +62% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Dearborn Heights
- County
- Wayne
- State
- Michigan
- Longitude
- -83.2733
- Latitude
- 42.3562
- 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
$57,511
$0.00
$0.00
$900,600
-
$0.00
$0.00
$1,801,200
