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11635 E 13 Mile Rd
Warren, MI 48093

Walgreens Michigan 7+ Yrs 7.75 CAP NNN · Retail Property For Sale

INVESTMENT HIGHLIGHTS

  • STABLE INCOME - Income guaranteed by Walgreens corp., investment grade credit rating of BBB (S&P), top 20 Fortune 500, with ±9,800 locations.
  • DETROIT MSA LOCATION - Located in a suburb 19 miles NE of downtown Detroit and is near the Detroit MSA with over 3.9 million residents.
  • BUSY INTERSECTION WITH ±43,000 VPD - Located at signalized corner of 13 Mile Rd. & Hoover Rd. with a combined traffic count of 43,579 VPD.
  • ABSOLUTE NET LEASE – Absolute net lease with 7+ yrs. of primary term remaining and 10 (5-year) options to follow.
  • TWO MAJOR MEDICAL FACILITIES WITHIN 5-MILES – Near Ascension Macomb Oakland Hospital and Beaumont Medical Center.
  • ABOVE AVERAGE INCOME & DENSELY POPULATED AREA - The average HH income is $78,206 in a 1-mile radius and total population is 314,197 in a 5-mile radius

PROPERTY FACTS

Property Type
Retail
Property Subtype
Drug Store
Building Size
13,836 SF
Building Class
B
Year Built
2002
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.56 AC
Zoning
C1 - Local Business
Parking
46 Spaces (3.98 Spaces per 1,000 SF Leased)
Frontage
275 FT on 13 Mile Rd

AMENITIES

  • Pylon Sign
  • Signage
  • Signalized Intersection
  • Drive Thru

ABOUT 11635 E 13 MILE RD , WARREN, MI 48093

Pharma Property Group has been exclusively retained by ownership to present for sale the opportunity to acquire the Walgreens property located in Warren (Detroit Area), Michigan. This property is available for purchase and operates on an absolute net lease basis with 7 years remaining on the primary lease term, including ten (5-year) options to follow. Income is guaranteed by Walgreens corporation which has an investment grade credit rating of BBB (S&P) and is a top 20 Fortune 500 company with approximately 9,500 locations. The property is located at the northeast signalized corner of 13 Mile Road (22,810 VPD) and Hoover Rd (20,769 VPD) with a combined traffic count of 43,579 vehicles per day. Interstate 696 is located less than two miles directly north of the subject property with approximately 153,000 vehicles per day. There are two major medical facilities within a 5-mile radius: Ascension Macomb Oakland Hospital and Beaumont Medical Center. The subject property is located in a suburb approximately 19 miles northeast of downtown Detroit and is near the Detroit Metropolitan Statistical Area. This MSA is the 11th most populous in the United States with a population of about 3.9 million people. The average household income is $78,206 in a 1-mile radius and total population is 314,197 in a 5-mile radius.

PROPERTY TAXES

  • Listing ID: 17939131

  • Date on Market: 12/11/2019

  • Last Updated:

  • Address: 11635 E 13 Mile Rd, Warren, MI 48093