Walgreens | 2131 W Grand River Ave
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Walgreens 2131 W Grand River Ave
14,550 SF Retail Building Okemos, MI 48864 $4,900,000 ($337/SF) 8% Cap Rate
Investment Highlights
- Original 25-Year Lease with 12+ Years Remaining in Term.
- Close Proximity to Michigan State University | Over 50,000 Students at the Main Campus.
- Excellent Demographics: Population Exceeds 113,707 within 5 Miles.
- Corporate Back Guarantee | Walgreens Boots Alliance S&P “BBB”.
- Prototypical Free Standing Building Equipped with Drive-Thru.
- Hard Corner Location With Excellent Visibility on Signalized 4-Way Intersection.
Executive Summary
Absolute Net Lease | Zero Landlord Responsibilities.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,550 SF
Building Class
B
Year Built
2012
Price
$4,900,000
Price Per SF
$337
Cap Rate
8%
NOI
$392,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
1.31 AC
Parking
35 Spaces (2.41 Spaces per 1,000 SF Leased)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 02-02-21-254-037 | Improvements Assessment | $918,600 |
| Land Assessment | $598,200 | Total Assessment | $1,516,800 |
PROPERTY TAXES
Parcel Number
02-02-21-254-037
Land Assessment
$598,200
Improvements Assessment
$918,600
Total Assessment
$1,516,800
Contacts
-
Deno Bistolarides -
Tommy Hannawa -
Brandon Hanna -
Ryan Vinco -
Encore Real Estate Investment Services
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Walgreens | 2131 W Grand River Ave
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