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Drug Store

Walgreens

2985 Crooks Rd, Rochester Hills, MI 48309

Listing Price: $6,476,190

Cap Rate
5.23%
Tenant Name
Walgreens
Years Remaining On Lease
8.1
Guarantor
Corporate Guarantee
Rentable SF
14,820
Lease Type
Absolute Net
Rent Per Square Feet
$22.87

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in Walgreens located at 2985 Crooks Rd, Rochester Hills, MI. The property is situated on 2.09 acres of land and contains 14,820 square feet of net leasable area. Walgreens is subject to an absolute triple-net lease, with a primary lease term expiring in July 2030. Walgreens has 10 five-year extension options. Rochester Hills is a suburb of Detroit with a population of 74,206. It is the 15th largest city in Michigan and is one of the best places to live in the state. Living in Rochester Hills offers residents a sparse suburban feel and most residents own their homes. In Rochester Hills there are a lot of restaurants, coffee shops, and parks. Many families and young professionals live in Rochester Hills. The public schools in Rochester Hills are highly rated. Founded in 1901, Walgreen Company or simply Walgreens is the first global pharmacy-led, health and well being enterprise in the world. Walgreens operates over 9,000 retail locations throughout the United States and employs more than 230,000 people. The company specializes in filling prescriptions, health and wellness products, health information and photo services.

Investment Highlights

  • Investment Grade Tenant –S&P Rated BBB
  • Absolute NNN Lease –Zero Landlord Obligations
  • Over Eight Years of Primary Lease Term Remaining
  • Average Household Income of $100k+ Within One-Mile Radius
  • Hard Corner Signalized Intersection – Traffic of 47,000+ Vehicles Per Day
  • Nearest Walgreens is Over Three Miles Away
  • Oversized 2.09 Acre Parcel With Ample On-Site Parking
  • Dense Population of 60,000+ Within Three Mile Radius

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Financing By

Listing Price: $6,476,190

Cap Rate
5.23%
Tenant Name
Walgreens
Years Remaining On Lease
8.1
Guarantor
Corporate Guarantee
Rentable SF
14,820
Lease Type
Absolute Net
Rent Per Square Feet
$22.87

Investment Highlights

  • Investment Grade Tenant –S&P Rated BBB
  • Absolute NNN Lease –Zero Landlord Obligations
  • Over Eight Years of Primary Lease Term Remaining
  • Average Household Income of $100k+ Within One-Mile Radius
  • Hard Corner Signalized Intersection – Traffic of 47,000+ Vehicles Per Day
  • Nearest Walgreens is Over Three Miles Away
  • Oversized 2.09 Acre Parcel With Ample On-Site Parking
  • Dense Population of 60,000+ Within Three Mile Radius

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in Walgreens located at 2985 Crooks Rd, Rochester Hills, MI. The property is situated on 2.09 acres of land and contains 14,820 square feet of net leasable area. Walgreens is subject to an absolute triple-net lease, with a primary lease term expiring in July 2030. Walgreens has 10 five-year extension options. Rochester Hills is a suburb of Detroit with a population of 74,206. It is the 15th largest city in Michigan and is one of the best places to live in the state. Living in Rochester Hills offers residents a sparse suburban feel and most residents own their homes. In Rochester Hills there are a lot of restaurants, coffee shops, and parks. Many families and young professionals live in Rochester Hills. The public schools in Rochester Hills are highly rated. Founded in 1901, Walgreen Company or simply Walgreens is the first global pharmacy-led, health and well being enterprise in the world. Walgreens operates over 9,000 retail locations throughout the United States and employs more than 230,000 people. The company specializes in filling prescriptions, health and wellness products, health information and photo services.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

Financing By

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